The Even Manufacturing Company is located in Pittsburgh, Pennsylvania. It has a reasonably simple purchasing system that
Question:
The Even Manufacturing Company is located in Pittsburgh, Pennsylvania. It has a reasonably simple purchasing system that works as follows: The raw materials inventory manager notifies purchasing when the inventory falls below the reorder point. The purchasing department then issues a purchase order to the proper supplier. When the goods are received, they are counted and the packaging slip is matched against a copy of the purchase order. At the end of the month, the billing department checks to make sure that all adequate documentation is present and produces a payment voucher.
The payment voucher is processed by a cash disbursements clerk, who prepares a check to be signed by the treasurer. The treasurer's office forwards the check to the vendor.
Required
Describe all major documents involved in the Even Company's purchasing system.
Step by Step Answer:
Accounting Information Systems
ISBN: 9780130861771
8th Edition
Authors: George H. Bodnar, William S. Hopwood