AP must not be fully recorded or intentionally underwritten, leading to incorrect digital funding and payment systems, making the financial situation of the business better than it actually is Interac.
• AP must not be fully recorded or intentionally underwritten, leading to incorrect digital funding and payment systems, making the financial situation of the business better than it actually is Interaction costs of enterprises are not fully recorded, making the profits of enterprises increase not true to reality I.1.1 Internal controls over accounts payable Internal controls for AP to suppliers are control procedures established by an entity to prevent fraud and error in respect of the payables Depending on the needs and management style of each unit, these procedures are different AP to suppliers airs closely related to the purchasing and payment processes, so the procedures for controlling payables to vendors are also associated with the purchase and payment cycle Normally, the internal control process for the purchase and payment cycle is associated with each stage and is arranged in the following order: a) Handling and recording payables to suppliers: Warehouse receipts and purchase invoices are the basis for accountants to record in detail, to summarize supplies, and to pay debts to sellers When receiving vouchers, purchase invoices, warehouse receipts, accountants must check the legality, compare and compare quantities, models, shipping documents with information on purchase orders and reports receive After the inspection, it must be immediately recorded in the general and detailed books according to the right sellers and the accounts of purchased materials and goods In this stage, the control process is required to ensure the independence (not part-time) between the accountant of materials, the cashier, the storekeeper and the materials department b) Processing, paying for purchases and recording: