Which of these sentences of this paragraph refer to Internal control? Asset or Supply Purchase Requisition For each required purchase the department manager of the requesting department will review and approve an employee's written request . Then he/she will submit a request via the intranet system to purchasing. Once reviewed by the purchasing team it is approved by the purchasing manager. Once approved the request is assigned to a purchaser who then places the order with a vendor from an approved vendor list. Receipt of Goods Once an approved purchase has been received it is opened and all contents are compared to the original purchase order and documented by an individual in the warehouse. Once the receipt of goods is complete it is sent to purchasing for matching to relevant documents and forwarding to either accounts payable or to be filed as complete. The goods are forwarded on to the requesting department. Cash Disbursements All disbursements shall be made by check, signed by the treasurer, including reimbursements of the petty cash fund. Checks shall be made payable to a named payee and not to “cash." Blank check stock shall be kept under lock and key in the accounts payable accounting department. Under no circumstances may blank checks be signed by the treasurer. Voided checks shall be transmitted to the treasurer for inspection and later filed in numerical order with paid checks. Cash disbursement journal entries shall be dated with the date of the check. The related monthly general ledger summary entries shall carry the date of the month summarized. Note: Name each sentence pc#1, pc#2, and etc
Which of these sentences of this paragraph refer to Internal control?
Asset or Supply Purchase Requisition
For each required purchase the department manager of the requesting department will review and approve an employee's written request . Then he/she will submit a request via the intranet system to purchasing. Once reviewed by the purchasing team it is approved by the purchasing manager. Once approved the request is assigned to a purchaser who then places the order with a vendor from an approved vendor list.
Receipt of Goods
Once an approved purchase has been received it is opened and all contents are compared to the original purchase order and documented by an individual in the warehouse. Once the receipt of goods is complete it is sent to purchasing for matching to relevant documents and forwarding to either accounts payable or to be filed as complete. The goods are forwarded on to the requesting department.
Cash Disbursements
All disbursements shall be made by check, signed by the treasurer, including reimbursements of the petty cash fund.
Checks shall be made payable to a named payee and not to “cash." Blank check stock shall be kept under lock and key in the accounts payable accounting department. Under no circumstances may blank checks be signed by the treasurer. Voided checks shall be transmitted to the treasurer for inspection and later filed in numerical order with paid checks. Cash disbursement
Note: Name each sentence pc#1, pc#2, and etc
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