This Technical Notes explains a flow procedure for handling payables in a small to medium size business. The example to be explained uses the CommerceExpert/WebClerk for PO's and inventory control and an Accounts Payable and General Ledger for tracking payables and accounting purposes. This procedure sets up controls which will be effective as the company adds new personnel.
You have an "Accounts Payable" module and CommerceExpert/WebClerk set up.
You use duplicate checks.
Creating a Purchase Order
The first part of this procedure is making a purchase. This purchase could be for inventory Items as well as office supplies, etc. Along with all the "Item" records for inventory Items, set up an "Item" record for office supplies or any other Item that you may be purchasing on a regular basis. Creating these misc. "Item" records helps in the efficiency and ease of creating PO's.
1. Production dept > POs menu > Add PO...
2. Fill in the Vendor and Items for this PO. (If you are not familiar with the "PO" or "Vendor" record, refer to Tech Notes on those subjects.)
3. Print the Purchase Order. There are a few forms that came included with CommerceExpert/WebClerk. These can be used as is, or modified. Print at least one copy for your file. If you need to give a copy to the Vendor print two copies. The copy for your file can be on colored paper to help seperate your file copy and copies to mail, fax, etc..
4. Make your order to the Vendor and verify pricing.
5. File the colored copy of PO in a file set up for PO's. File it by Vendor name.
In-shipping the Purchase
1. The person receiving the Item(s) must verify the receipt of the Item(s) by signing the Packing List or filling in a Receipt document.
2. Use a Receipt document only if a Packing List is not included with the Item(s). The Receipt document should be a simple form set up to include; Vendor, Date, Item, Qty received, how it was shipped and a sign off area. Duplicate the document and have it available for anyone who may be receiving goods.
3. Have a specific place (bin) for everyone to put the signed Packing List or Receipt document.
4. Staple the Packing List or Receipt document to the back of the PO.
5. Open the PO in CommerceExpert/WebClerk and receive the Items.
6. Put the stapled set of papers back in the PO file.
Processing the Invoice
1. Have a specific place (bin) for all Invoices.
2. Staple each Invoice to the front of it's PO and Packing List. Verify the price being charged with the PO. Any discrepancies, either in Price, Qty Received etc., should be checked out at this point.
3. Open the PO in CommerceExpert/WebClerk. On the "Vendor/Ship" page, type in the Invoice number. (If it ends up being multiple Invoices for one PO, type in "Multiple" and put Invoice numbers in the "Comment" area.)
NOTE: Putting in the Invoice number allows you to create a "QuickReport" on all Non-Invoiced PO's.
4. Open the Accounts Payable module from your accounting software. Input the Invoice information.
5. Stamp the Invoice with "Entered" and the date.
6. Put this group of papers in a Payable file. Filing by Vendor.
Paying the Invoice
1. Each Accounts Payable module may have different steps to print out the needed checks. Follow the directions for your accounting system.
2. Attach the duplicate copy of the check to the back of the appropriate group of papers in the "Payable" file. If more than one Invoice is payed with a single check, staple the check to the back of the entire group of Invoices.
3. If someone needs to review and sign the checks, paper clip the check to the front of the group of papers and give it to the appropriate person.
4. Mail signed check.
5. File the group of papers in the Paid Invoice file. File by Vendors name.