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Example:-

Suppose a new employee Mr Akash joins a company as Sales Executive.

He needs to get Visiting Cards Printed

Whom should he ask for approval?

His Sales Department, Accounts Department or Admin Department?

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Which Manager in Sales Department should he approach

Assistant Manager, Sales Manager Sales, Vice President Sales or Sales Head

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How should Approval be taken

Oral or Written?

By Email or Writing a Letter or Signing a Form?

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Now Suppose Approval has been taken,Who will go for purchasing Visiting Cards

Mr Akash ,his manager or some other person?

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Now there are Different Vendors in Market. How to select the Vendor for purchasing goods?

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Now suppose a vendor is Selected, What Document to be issued to him?

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Now suppose Vendor sends goods to the Company, Who will receive and check it?

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Note:-

Only after this is Invoice received by Accounts Department along with Attached PO/GRN

He performs a number of steps before,during and after passing the entries

Lets study these steps one by one

  1. Accounts and Finance
  2. AP and AR Process
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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