This is a general list. Some may not apply to all businesses. Equally, there may be some things that I have missed off, but may apply, particularly to specific industries.
- log all the purchase ledger invoices (either on paper or into the accounts system) that have been received.
- match invoices to the Goods Received Note (GRN) and/or have invoices signed off for payment
- code up the invoices/analyse them in a manual purchase day book
- post them onto the accounts system (in a very small company this may be merged with the logging of invoices
- payment run (paying suppliers according to agreed credit terms)
- file paid invoices appropriately
- supplier statement reconciliation