Checklist DB 1
[1-1] Separate invoice processing from purchasing and receiving functions.[1-2] Ensure different individuals are responsible for authorizing payments and recording transactions.[2-1] Match receiving reports with vendor invoices and purchase orders.[2-2] Verify quantities, prices, and terms against purchase orders and receiving reports.[3-1] Require approval of invoices and payments by authorized personnel.[3-2] Obtain additional approval for invoices exceeding a specified amount.[4-1] Maintain detailed records of all invoices and payments.[4-2] Use pre-numbered invoices and keep a log.[5-1] Periodically review invoice processing for compliance with procedures.[5-2] Conduct surprise audits of invoice records and processes.
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