Checklist DB 1
[1-1] Separate responsibilities for requisitioning, purchasing, and receiving from invoice processing, accounts payable, and general ledger functions.[1-2] Ensure the purchasing function is distinct from requisitioning and receiving.[2-1] Use pre-encumbered purchase orders for all costs and expenses.[2-2] Ensure procurement at competitive prices through competitive bidding or price comparisons.[2-3] Match invoices with purchase orders and receiving reports to confirm accuracy.[3-1] Require approval for all purchases by authorized personnel.[3-2] Obtain additional approval for purchases exceeding a specified amount.[4-1] Use pre-numbered purchase orders and maintain a log.[4-2] Keep detailed records of all purchase transactions, including supporting documents like invoices and receiving reports.[5-1] Secure unused purchase order forms.[5-2] Restrict access to purchase order stock to authorized personnel.[6-1] Periodically review the purchasing process for compliance with procedures.[6-2] Conduct surprise audits of purchasing records and processes.
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