XBert Type: Standard
Accounting Software: Xero, MYOB, QuickBooks
Country Restriction: New Zealand only
Risk Type: Cash Flow Risk
Business Function: Purchases
Overview
The "Bill raised with a supplier in liquidation" XBert checks whether an open bill is owing to a supplier whose business is currently in an insolvency process on the New Zealand Business Number (NZBN) register. Paying a supplier that is insolvent is risky. The goods or services may never arrive, any prepayment may be lost, and the payment may need to go to an appointed liquidator or receiver rather than to the supplier.
What it does
XBert scans your open bills and checks each supplier against the official NZBN register. It looks for a bill where the supplier:
Is matched with high confidence to a business on the NZBN register, by its registered NZBN or GST number (never by name alone), and
Currently shows a status of in liquidation, in receivership, in statutory administration or voluntary administration (including combinations of these)
When a bill meets both conditions, XBert raises an alert and links you straight to that bill.
How it works
XBert reads each supplier's current registration status on the NZBN register. A supplier that is insolvent right now is a present risk, no matter when the bill was created. So the alert fires on any open bill held against that supplier, whether the bill is a draft, submitted or authorised, and prompts you to review it before you pay or finalise it.
XBert is deliberately careful about what it flags, to avoid false alarms. It only raises this alert when:
The supplier is confirmed by a strong identifier match (NZBN or GST number), so a different business with a similar name is never mistaken for your supplier
The bill is still open. Paid, deleted and voided bills are ignored
A supplier that has simply been removed or struck off the register, rather than placed into an insolvency process, is handled by a separate XBert and will not trigger this one. Suppliers that are inactive or closed are not flagged here either.
Example / Use Case
Mia owns a pizza shop and has an authorised bill of $6,000 owing to a supplier for a new commercial oven. Before the oven is delivered, the supplier is placed in liquidation. XBert flags the open bill. Instead of paying $6,000 into an insolvent estate for goods she may never receive, Mia holds the payment and lodges a claim with the appointed liquidator, protecting her cash and recovering what she can.
Accounting software
Xero, MYOB, QuickBooks.
Which countries it supports
New Zealand only.
Processes
This alert falls under the Purchases (AP) business area. To action this XBert:
Confirm the supplier's current status on the NZ Companies Office / NZBN register
Hold or cancel the bill until you have confirmed delivery and the supplier's position
Contact the appointed liquidator, receiver or administrator before making any payment
Avoid paying into an insolvent estate unless you are certain you will receive the goods or services
If the bill is for goods or services you have already received, lodge a claim with the appointed liquidator or receiver rather than paying the supplier directly