What are the steps you would follow for processing Invoices.

Question

Accepted Answer

The steps for processing invoices include receiving the invoice, verifying the details, recording the invoice, obtaining approvals, and making the payment.

Receive the invoice from the supplier.
Verify the details on the invoice, such as the vendor name, invoice number, date, and amount.
Record the invoice in the accounting system or software.
Obtain necessary approvals, such as from the department head or manager.
Match the invoice with the purchase order or receipt of goods/services.
Ensure the invoice is coded correctly with the appropriate expense or account codes.
Process the payment by scheduling it for payment on the due date or within the agreed payment terms.
Maintain proper documentation and filing of the processed invoices for future reference or audit purposes.

Accepted Answer

Approval from purchase department reg quality and quantity check,payment terms,fund availability

Accepted Answer

Approval from purchase department reg quality and quantity check,payment terms,fund availability

What are the steps you would follow for processing Invoices.

Top Samman Lal Sher Singh Papers Executive Accountant interview questions & answers

Popular interview questions of Executive Accountant

Top HR questions asked in Samman Lal Sher Singh Papers Executive Accountant