+1-415-670-9189
info@expertsmind.com
All the departments in the organization that will be
Course:- Accounting Basics
Reference No.:- EM13601491




Assignment Help
Assignment Help >> Accounting Basics

When an authorized purchase requisition comes into the system, it is checked to see that it has been authorized. Furthermore, the budget master file is acessed to ensure that the purchase is covered by the authorizer's budget. After the purchase requisition has been validated, a vendor is selected from those in the vendor master file. At this time, a purchase order is prepared and the purchase requistion is filed away in the purchase requisition file.

All the departments in the organization that will be affected by this purchase are notified. These departments are the warehouse, receiving department, and accounts payable department.

The purchase order is submitted to the vendor. The purchase order data are recorded in the open purchase order file, which is a file that stores unfilled purchase orders. The vendor sends back an acknowledgment that the order will be filled. That information is also entered into the open purchase order file.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
What financial information are such clubs likely to collect and maintain? Assuming that the club keeps manual accounting records; would you consider such systems accounting i
(Issuance of Bonds between Interest Dates, Straight-Line, Retirement) Presented below are selected transactions on the books of Simonson Corporation. May 1, 2010 Bonds payable
Prepare the journal entries on the books of preston company to record the purchase of the assets and assumption of the liabilities of saville company if the amount paid was
Once consultants and stakeholders mutually decide upon an adequate software suite for their particular organization, the development team must begin what is known as the des
I would make both Amy and Alan's relatives various methods which they can use to recover compensation for the losses. These methods vary as regards their legal binding power
State the major components of a safety and health plan, describe each component, and discuss how you would structure each component of the plan on a construction site that y
Give the required journal entries for the two events in December. Show how the amounts related to Accounts Receivable and Bad Debt Expense would be reported on the balance she
Can a nonprofit (not-for-profit) organization release restrictions on a "strike fund" and use it in the general fund for current year activity? Why or why not?