Accounts Payable Process - Definition - Meaning - Explanation - Steps
By Accounts Payable Process we mean a way in which we are purchasing goods or products from our Supplier or Seller or Accou n ts Payable O n Accou n t or Credit Basis for the purpose of selling. Below are the steps taken place during the Accounts Payable / Sundry Creditors Process. 1. Purchase Order From Buyer Accounts Payable Process Or Purchase Processing starts with the order of goods from the buyer who writes the order on a form provided by Supplier or Vendor or the buyer himself made an order written on a form and sent it to supplier either by physical visit to the location of business place, by email, by post, telephone or mobile phone devices or any other available sources which he likes. You Ca n Also Study, “ Accounts Receivable Process ” 2. Verification of Purchase Order By Receiving Department After receiving the order, the Receiving Department confirms the order as this order is an evidence from buyer that he is willin...