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    FLOWCHART-Expense Disbursement Cycle

    Uploaded by

    Angelyn Samande
    The document outlines the inventory control and accounts payable process. Inventory levels are monitored and purchase requisitions are created then approved. The purchasing department creates purchase orders based on requisitions. Goods are received along with invoices by receiving. Receiving creates receiving reports which are sent to accounts payable. Accounts payable reviews documents and creates vouchers which are sent to cash disbursement. Cash disbursement reviews vouchers, updates accounts payable, prints checks and files are updated.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    FLOWCHART-Expense Disbursement Cycle

    Uploaded by

    Angelyn Samande
    2K views2 pages
    The document outlines the inventory control and accounts payable process. Inventory levels are monitored and purchase requisitions are created then approved. The purchasing department creates purchase orders based on requisitions. Goods are received along with invoices by receiving. Receiving creates receiving reports which are sent to accounts payable. Accounts payable reviews documents and creates vouchers which are sent to cash disbursement. Cash disbursement reviews vouchers, updates accounts payable, prints checks and files are updated.

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    The document outlines the inventory control and accounts payable process. Inventory levels are monitored and purchase requisitions are created then approved. The purchasing department creates purchase orders based on requisitions. Goods are received along with invoices by receiving. Receiving creates receiving reports which are sent to accounts payable. Accounts payable reviews documents and creates vouchers which are sent to cash disbursement. Cash disbursement reviews vouchers, updates accounts payable, prints checks and files are updated.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    2K views2 pages

    FLOWCHART-Expense Disbursement Cycle

    Uploaded by

    Angelyn Samande
    The document outlines the inventory control and accounts payable process. Inventory levels are monitored and purchase requisitions are created then approved. The purchasing department creates purchase orders based on requisitions. Goods are received along with invoices by receiving. Receiving creates receiving reports which are sent to accounts payable. Accounts payable reviews documents and creates vouchers which are sent to cash disbursement. Cash disbursement reviews vouchers, updates accounts payable, prints checks and files are updated.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    INVENTORY CONTROL PURCHASING DEPARTMENT RECEIVING DEPARTMENT ACCOUNTS PAYABLE CLERK CASH DISBURSEMENT CLERK

    ChC
    Inventory subsidiary Purchase Supplier Buyer Review
    ledger Requisition Voucher
    Document
    Purchase order
    Monitoring Prepare Receiving Report
    Purchase
    Inventory purchas Invoice
    requisition Goods Cash Disbursement
    Record e order
    Invoice Transaction file

    2 Cash Dis. Voucher


    2 1
    PR Buyer
    2 3
    1 Purchase 3
    2 2
    Requisition Purchase Search Open 1
    Order Purchase
    Voucher File Check 3
    Prepare order
    Receiving for Item Due
    compared
    PR Report with RR
    To
    Suppl
    PO Vendor
    ier
    Buyer Purchase
    SUPER Journal &
    Buyer File
    -VISOR accounts
    Payable
    subsidiary
    To File Voucher
    Vendor Document
    Update
    File Accounts
    Payable
    INVENTORY CONTROL
    Inventory record are being monitor to determine the goods that needs to be purchase and its quantity. Purchase Requisition forms will be prepared and will be signed by the Supervisor
    who has the budgetary responsibility for the expenditure category. Multiple copies of pre-numbered Purchase Requisition will be provided and distributed internally. Copies are sent to= File
    (where documents are stored), Accounts payable Clerk, and Purchasing Department

    PURCHASING DEPARTMENT
    Approved Purchase requisitions are used to prepare Purchase orders. Multiple copies of pre-numbered Purchase Order are prepared, a copy of it is sent to the Vendor/Supplier and the
    remaining copies shall be distributed internally. Copies are sent to= Receiving Department, Accounts Payable clerk and File (to store documents)

    RECEIVING DEPARTMENT
    Receiving Department Clerk will receive the goods and the Invoice from the vendor/supplier, the Invoice will be sent to Accounts Payable Clerk. A pre-numbered receiving report will be
    prepared for each order received. Receiving report supports the existence or occurrence for purchase transactions. It will be compared with the Purchase order to check the accuracy of the
    transaction before the goods are stored. A copy of receiving report will be sent to file and one is sent to Accounts Payable Clerk.

    ACCOUNTS PAYABLE DEPARTMENT


    -Purchase order, Receiving Report, Invoice, and Cash Disbursement Voucher
    Accounts Payable Clerk will review and match these documents before recording liability. The clerk will also check the prices, compute the discounts, and then prepare a voucher. The
    voucher document shall be sent to the Cash Disbursement Clerk.

    CASH DISBURSEMENT CLERK


    The voucher document will be reviewed by the Cash disbursement clerk before payment data are entered into a cash disbursements transaction file. Cash disbursements transaction file
    will be used to update the Accounts Payable. Check will be physically matched with supporting vouchers. Pre-numbered checks should be used. A copy of check document shall be stored in a
    file signed checks shall be sent to the vendor/supplier.

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