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payment and purchase cycle - Coggle Diagram
payment and purchase cycle
general controls
supervision and review
segregation of duties
rotation of duties
management control
internal audit
sufficient stationery control
test castings and calculations
control objectives
authorisation
accuracy
completeness
recording
classification
cut off
validity
purchasing cycle
ordering function
purchase orders
supplier price list
requisitions
list of approved suppliers
receiving of goods
delivery note
goods received note
copy of purchase order
recording of goods
supplier invoice
copy of purchase order
copy goods received note
delivery note
purchase journal
credit note
goods received
disused invoices
payment cycle
functions
control over cheque forms
drawing and signing of cheques
recording of payments
documentation
remittance advice
cheques
bank statements
cash payment journal