Templates
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Accounts Payable Process

Accounts Payable Process

Handle outgoing payments in an efficient and compliant manner.
1
Introduction:
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Purchase order:
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Enter purchase order details
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Send to the vendor accounting department
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Send to the receiving department
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Send to the senior accountant in your department
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File a copy for internal records
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Receiving report:
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Create a receiving report
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Document validation:
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Gather the receiving report, PO, and vendors invoice
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Double check a three-way match
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Report errors to relevant team member
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Confirm all documents have been amended
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Payment:
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Enter the invoice into the accounts payable account
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Check dates to avoid penalty charges
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Schedule the payment
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Stamp all documents
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Create voucher for the documents
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Store in paid voucher/invoice file
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Sources:
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Related checklists: