An AP accountant should check the following points before passing an expense entry

  • Whether expense approved by correct person as per Expense Authorization Matrix as per Company Policy
  • Whether approval is by correct mode as per company policy(Mail Approval in case of MNC,Voucher Sign in case of Indian Co,Travel Expense form for travel bills,sign on bill etc)
  • Whether proper quotations from different vendors obtained as per Company policy
  • Vendor Selected by Purchase Dept/Admin Dept/IT Dept as per Company Policy
  •  Selected  vendor given PO(Purchasse Order mentioning the details of purchase made)
  • Check price  and payment terms as per PO with invoice
  • Person receiveing the goods(STORES) sign GRN(Goods receipt Note) mentioning Quantity
  • Accountant should match invoice qty with GRN



In Case of Purchase Entry

INVOICE  Received of PURCHASE of 100KG*100/kg=10000

PO is of 300KG*90/kg=270000



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Davneet Singh's photo - Teacher, Computer Engineer, Marketer
Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 9 years. He provides courses for Maths and Science at Teachoo.