Determine about the purchasing procedures, Accounting Basics

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Determine the Purchasing Procedures

Alarge company would use a "purchasing agent" who heads purchasing department. Small companies would use manager/owner, etc.

Seller receives order and sends an invoice (document which shows the name of buyer and seller, terms of sale, date, description, delivery, price, and total owed) sales and purchase invoice and merchandise.

When merchandise is received, it's checked against purchase order.

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