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Unformatted text preview: • Remittance advice sent to accounting to record • Bank deposit slip compared with debit to cash Internal Control Over Cash Payments • Payment by check Provides record of payment Must be signed by authorized official Official should study evidence supporting payment Documents Used to Control Purchases • Purchase order Prepared by purchasing company to place order • Invoice Prepared by selling company to list items sent and to request payment • Receiving report Prepared by purchasing company to show that goods were received...
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This note was uploaded on 06/14/2011 for the course ACCOUNTING 23020 taught by Professor Na during the Spring '11 term at Kent State.
- Spring '11
- Financial Accounting