Document control procedures are critical for processing accounts payable invoices. They will help ensure that you properly record all accounts payable invoices to the accounting general ledger and process payments for the invoices in a timely manner. A written procedure for processing accounts payable helps to alleviate mistakes in processing and to avoid late charges for failure to remit payments on time.
Date-Stamp the Invoice
Code the Invoice
Obtain Invoice Approval
Prepare the Check
- “Principles of Accounting”; A. Douglas Hillman, Richard F. Kochanek, Corine T. Norgaard; 1991
- Blue pen in front of invoice image by millann from Fotolia.com