Receive the invoices from supplier or other Internal Manual Standard Invoice Invoice is Finance Team Active – concerned department. PO available for recording into system AP003.02 Record a Standard Invoice details into the Internal System Assisted Standard Invoice Invoice Finance Team Active – system with the correct expense account. PO entered in the system AP003.03 If it is a foreign currency invoice, enter the Internal System Assisted Standard Invoice Invoice Finance Team Active – invoice amount in foreign currency. System PO entered in the should be able to convert it into functional system currency automatically based on corporate/user/spot rates. AP003.04 Payment currency should be same as Invoice Internal System Assisted Standard Invoice Invoice Finance Team Active – currency. PO entered in the system AP003.05 Validate the Invoice in the System. Internal System Assisted Standard Invoice Invoice is Finance Team Active – PO available for approval AP003.07 Create Accounting for the Invoice and transfer Internal System Assisted Standard Invoice Accounting Finance Team Active – the Journal Entries to General Ledger PO entries generated AP003.10 System should allow defining distribution sets Internal System Assisted Distribution Sets Distribution Finance Team Active – and assigning them to Supplier/Invoice. Sets defined and assigned
Receive the invoices from supplier or other concerned department. Internal – Manual Standard Invoice PO Invoice is available for recording into system Finance Team Active AP003.02 Record a Standard Invoice details into the system with the correct expense account. Internal – System Assisted Standard Invoice PO Invoice entered in the system Finance Team Active AP003.03 If it is a foreign currency invoice, enter the invoice amount in foreign currency. System should be able to convert it into functional currency automatically based on corporate/user/spot rates. Internal – System Assisted Standard Invoice PO Invoice entered in the system Finance Team Active AP003.04 Payment currency should be same as Invoice currency. Internal – System Assisted Standard Invoice PO Invoice entered in the system Finance Team Active AP003.05 Validate the Invoice in the System. Internal – System Assisted Standard Invoice PO Invoice is available for approval Finance Team Active AP003.07 Create Accounting for the Invoice and transfer the Journal Entries to General Ledger Internal – System Assisted Standard Invoice PO Accounting entries generated Finance Team Active AP003.10 System should allow defining distribution sets and assigning them to Supplier/Invoice. Internal – System Assisted Distribution Sets Distribution Sets defined and assigned Finance Team Active
rd050_account_payables.docx