Kamlesh

• Aug 31st, 2005

 

Following steps should be taken.. 
 
>Validate the invoice once it is matched for checking any holds.. 
 
>If workflow is implemented , Initiate approval for the invoice. Once the invoice is approved/Approrval not required(status in case WF is not implemented) you can go for payments. 
 
>Create accounting after approval of invoice.. 
 
Finally for payments u need to format, build.. 
 
 
Thanks, 
 
Kamlesh

manogna

 Profile Answers by manogna 

• Sep 15th, 2005

 

check the number of invoices.

Jennifer

• Sep 20th, 2005

 

1. Check to see if the invoice matches the purchase order.

2. Check to see if you have received a goods receipt note.

Avudaiappa Moorthy

• Oct 10th, 2005

 

Invoiced quantity should get checked against the accepted quantity ie Invoiced qty can be equal or less than the (accepted qty-paidqty till now)

Material value should get calculated again from po and must get tallied with GRN value and The total of Item value must tally with the supplier invoice value

If any difference arises that should get reconcilied by giving valid entry in bills approval screen

venkat

• Oct 24th, 2005

 

For Approving Invoice to payment, at first we have verify the delivery challan and check the all material received correct and price. and all check that invoice is fullfill all terms mentioned in our purchase order copy. and check the payment terms and other basic amount and excise duty and sales tax and totals of this taxes.

if all the correct and ok, then we can approve that as payment

RAVINDRA

• Jan 6th, 2006

 

The following are the important steps one should take before approving the payment.

1. Refer the Purchase Order issued.

2. Refer the Goods Received Note (GRN) for having received goods / service as mentioned in the P.O

3. Refer the terms and conditions for making the payment ( any credit period)

4. check the bank balance before approve the invoice for payment.

Jyothirmayi

 Profile Answers by Jyothirmayi 

• Mar 24th, 2006

 

you are giving very perfect answer for everything.Keep it up.

ramu

• Jun 17th, 2006

 

Dear ravindra very good answer, i think u would continue this work in future. u pls cover more topics

SKRAJU

• Jan 28th, 2007

 

HAI, This is s k raju working in A finance department . i am new for this site..and Mr. Ravendar you are giving very perfect answers in payable module keep it toup .....thanking you givig usefull details and i wish u to be continue ........further future.............have a nice daysregardsskraju

mohammad javvad

• Jan 31st, 2007

 

The following are the important steps one should take before approving the payment.

1. Refer the Purchase Order issued.
2. Refer the Goods Received Note (GRN) for having received goods / service as mentioned in the P.O
3. Refer the terms and conditions for making the payment ( any credit period)
4. check the bank balance before approve the invoice for payment

noval

• Apr 2nd, 2007

 

 
1. We check the quantities and rates with LPO with that invoice.

2. check the due date  and terms and condition agreed by the supplier.

3.  According that we can have the supplier statement of account.

4.  Reconcile with our records and making payement voucher.

rajujdv

• May 31st, 2007

 

1. Invoice Qty   = Goods Received Note
2. Invoice Price = Purchase Order Price
3. Check whether any Credit Note exists against that vendor
4. Check the Ship To address for making correct payment to correct location of the   
     vendor.
5. The currency and the mode of payment (Cheque / EFT / Wire) should also be
    taken care.

aneel

• Oct 25th, 2015

 

After receiving Invoice from vendor, the accounts payable department follow the technique i.e three way match
1) Purchase order - What we ordered
2) GRN - What goods or products we received against PO
3) Invoice - What quantity and price mentioned in PO.
these 3 are reconciled by payable dept.