Accounts Payable Question:
What steps would you take before approving an invoice for payment?
Answers:
Answer #1Following steps should be taken..
► Validate the invoice once it is matched for checking any holds..
► If workflow is implemented , initiate approval for the invoice. Once the invoice is approved/Approval not required(status in case WF is not implemented) you can go for payments.
► Create accounting after approval of invoice..
Finally for payments u need to format, build.
► Validate the invoice once it is matched for checking any holds..
► If workflow is implemented , initiate approval for the invoice. Once the invoice is approved/Approval not required(status in case WF is not implemented) you can go for payments.
► Create accounting after approval of invoice..
Finally for payments u need to format, build.
Answer #2Steps should be.
1.Match the invoice with p.o
2.Match the invoice quantity with quantity received through seller.
3.Also match the other description of the product with p.o and invoice
1.Match the invoice with p.o
2.Match the invoice quantity with quantity received through seller.
3.Also match the other description of the product with p.o and invoice
| Previous Question | Next Question |
| What is the meaning of invoice? | What is the difference between billable and non-billable expenses? |