4. SYSTEM FLOWCHART AP Using the format presented in Figure 2-4 in the text, develop a similar flowchart for the process of paying vendor accounts payable. The Process: Vendors send invoices to the AP department where they are reviewed and approved for payment. Once approved, the invoice and a cash disbursement voucher are sent to the cash dis- bursement department, where a check is prepared and sent to the vendor. A copy of the check, the invoice, and the voucher are returned to the AP department and filed.
4. SYSTEM FLOWCHART AP Using the format presented in Figure 2-4 in the text, develop a similar flowchart for the process of paying vendor accounts payable. The Process: Vendors send invoices to the AP department where they are reviewed and approved for payment. Once approved, the invoice and a cash disbursement voucher are sent to the cash dis- bursement department, where a check is prepared and sent to the vendor. A copy of the check, the invoice, and the voucher are returned to the AP department and filed.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:4. SYSTEM FLOWCHART AP
Using the format presented in Figure 2-4 in the text,
develop a similar flowchart for the process of paying
vendor accounts payable.
The Process: Vendors send invoices to the AP
department where they are reviewed and approved
for payment. Once approved, the invoice and a
cash disbursement voucher are sent to the cash dis-
bursement department, where a check is prepared
and sent to the vendor. A copy of the check, the
invoice, and the voucher are returned to the AP
department and filed.
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