1.

Check List for Purchase & Payment

Sr System/ Verified/ Approve

. Nature of manual Documen Checked d
# Transaction Document ts Created By By By Audit
HOD
(Plannin
Purchase Planning g
requisitio Relevant Departmen Departme
System n Department t nt) -
Comparat
ive
statement Purchase DTO/ Pre
Manual s operator HOD CEO Audit
Purchase Purchase DTO/ Pre
System order operator HOD CEO Audit
Security
Staff /
Delivery Party Store Pre
Manual challan Document Manager - Audit
Inward Gate Admin Pre
System gate pass Keeper( Farid ) Manager - Audit
Quality
Inspection Supervisor(Mo Pre
System report hsin Raza) HOD - Audit
Good HOD
receipt Data Operator (MR. Pre
System note (Abbas) Afzaal) - Audit
Sales tax Party Manager Pre
Manual invoice Document finance - Audit
Payment
advice Manager Pre
Manual form finance - CFO Audit
Bank
deposit
Slip/Cheq Manager Pre
Manual ue Waqas Sb finance CEO Audit
Bank/
Cash
Purchases & payment Manager Pre
1 Payment Manual voucher Cashier finance CEO Audit

Outward Gate Pre

Manual Gate Pass Keeper( Farid ) - - Audit
Excess or Quality
Rejection Inspection Supervisor(Mo Pre
2 Purchases System Report hsin Raza) HOD - Audit
3 Import Manual Performa Miss Sadaf CFO/ CEO Pre
Purchase Invoice Manager Audit
Import/Ex
 port
CFO/
Manager
LC Import Import/Ex Pre
Manual Opening Executive port CEO Audit
CFO/
Issurance Manager
Cover Import Import/Ex Pre
Manual Notes Executive port CEO Audit
CFO/
Manager
Clearing Import Import/Ex Pre
Manual Agent Bill Executive port CEO Audit
Good
Declaratio Import Pre
Manual n Executive - - Audit
Facility
Letter CFO/
with Manager
bank& Import Import/Ex Pre
Manual Entity Executive port CEO Audit
Bank Import Pre
Manual advice Executive - - Audit
Demurra
ge &
Detention Import Pre
Manual Bill Executive - CFO Audit
Customer CFO/
& Excise Manager
Documen Import Import/Ex Pre
Manual t Executive port CEO Audit
Manager
Costing Import Import/Ex Pre
System Sheet Executive port CFO Audit
Manager
Import/Ex Pre
System Posting Faisal sb port CFO Audit
2. Introduction:
 The purpose of this accounting manual is to standardize the preparation, verification, and
recording of financial documents across various transactions, including purchases, payments,
returns, and imports. This manual serves as a compliance and operational guideline for the
Account Department and other involved departments, ensuring consistency, accuracy in
financial reporting.

3. Account department required document:

Documents critical to the Account department for processing transactions effectively include:

Account Payable Invoice Credit Memo

Delivery order Outward gate pass
Purchase order Inspection report
 Inspection report
Goods receipt order
Supplier invoice
Costing sheet (Import case)

Payment Process
Account payable invoice
Manager Finance Payment request form

Note: All Document forward to account department after Audit by Internal auditor

4. Account payable invoice and Payment process:

Link of Document with Accounts Payable Invoice and Payment
Accounts payable process:
 Account payable invoices should link back to corresponding purchase orders and good receipt
note , inspection report ensure that charges are accurate and reflect received goods or services.

Payment process
 Payments should only be processed once the A/p invoice, purchase order, and delivery order are
verified and reconciled to prevent errors or fraud then generated Payment advice form which one
authorized by CFO/Manager finance

5. Data Entry for Account Payable Invoice and Payment Process

Accounts Payable Invoice
 Gather all above document form audit department and then posted A/p invoice.

Posting process:
 Account Executives should navigate to the relevant Goods Receipt Note and select 'Copy to A/P
Invoice' to transfer the posting details, including quantities, as per the accompanying document.
 If the supplier invoice rate differs from the purchase order or quotation, the discrepancy should be
discussed with the Manager Account or CFO. If the CFO or Manager Account approves the rate
difference, the A/P invoice should be posted based on the revised rate. If not approved, the invoice
should be posted according to the original purchase order, and the rate difference should be
communicated to the Purchasing Department.

Payment Processing
 After the internal auditor reviews the documents and the accounts payable invoice is posted by
the account executive, the Manager of Finance generates a Payment Advice on a predetermined
payment date. Following approval by the CFO, this Payment Advice is forwarded to the Audit
 Department for review, and then sent to the Cashier for processing the payment. The Cashier
obtains a receiving from the vendor on a Cash Payment Voucher (CPV) for cash payments, or
on a Bank Payment Voucher (BPV) for bank payments)

6. Format of Form