Knowing More About Accounts Payable Checklist
There are many things that you need to consider when you are going to create an accounts payable checklist. The account payable statement is usually recorded after the goods are received, not during the order of the goods.
With some of the finance or accounting department’s staff that are assigned to this, they will need to check if the transactions are done properly, and the payment goes through correctly as well. Creating a checklist can make it easier for the tasks that need to be done regularly especially if they need to do this for every order that is done for each customer.
Some of the things that need to be included in an account payable checklist are to coordinate properly with other staff of the finance or accounting department and other departments such as marketing or sales, purchasing, etc., check all activities and transactions for each customer and each order, list and properly record all orders and payments, and many more.
Before the purchase order is processed through to the purchasing department, they will need to make sure that the order is correct. This is to make the process goes easier for the whole company and the transaction will go smoother.
With the accounts payable report that is checked regularly, the checklist will be able to help the staff that is responsible for the company’s account to make sure that all transactions and orders are properly executed.
Sometimes, there could be an error in doing the purchase order or statement and this could be the cause of the order process slowing down. Not only that, but it could also create bad relationships between you and your customers and clients. The company will want to have more efficient and practical ways of the process hence using the checklist to ensure that the orders go through and are processed properly since the beginning.
Overall, if the company is big enough and there are a lot of different transactions that need to be processed each day, you could also opt to use software to help different departments differentiating the tasks that need to be done. For smaller businesses or companies, some still prefer to do this manually by using a Microsoft Excel sheet or their program (if they do have 1 created by their dev team).
There are also many different templates to choose from if you want to use a checklist for your accounts payable staff when they are going through the checking process of orders and transactions. At the bottom of this page, you can download an example for free by clicking on the download link provided.
Accounts Payable Checklist Template | PDF – download