ACCOUNTS PAYABLE/PURCHASES & PROCUREMENT
MANAGEMENT (”PURCHASE-TO-PAY” SYSTEM)

Vendors list master file maintenance

Recurring vendors

Casual vendors

Purchase orders and requisitions processing

Receiving goods and services documentation

Invoice payment requests processing

Clearance/matching against order, price and delivery

Approved invoice entry

Credit notes and discounts

Automatic check generation and distribution

Manual journal entries and manual checks

Aging reports

Discounts taken and discounts lost reports

Travel and expense reports

Creditors/vendors statements and invoices file

Purchases journal/voucher register

Accounts payable ledger

Inter-company/business unit transactions and allocations

General ledger postings/accounts distribution—to specific
income statement (expense) and balance sheet (asset and
liability) accounts

Backup procedures and hard copy reports retention