Purchase Ordering Inventories Receipt & invoicing Accounting Recording, accounting and credit control- All orders for, and expenditure on, goods & services are properly authorised , are for the actually received, & for the company- Orders are only made to authorised suppliers- Orders are made at competitive prices • All expenditure is authorised & for goods actually received • All expenditure is recorded correctly in the • All credit notes received are recorded in • All entries in the PL are made to the correct PL a/ c • Cut-off applied correctly to the PL • G&S received are used for the org.'s purposes & not private • G&S are only accepted if they have been ordered with authorised order • All G&S received are accurately recorded • Liabilities recognised • All due credits are to claim • Receipt of G&S is necessary to establish a liability • Central policy for choice of suppliers • Evidence required of requirements for purchase
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This note was uploaded on 06/14/2010 for the course ACCOUNTING 123456 taught by Professor Vananh during the Spring '10 term at Vaasan ammattikorkeakoulu.