Accounting Chapter 15- Purchasing Process

The supplier's invoice is placed in the *tickler file* according to its due date

10th

The department that needs items prepares a *purchase requisition* and submits it to the purchasing department

1st

The purchasing department prepares a *purchase order* and sends it to the supplier

2nd

The shipment of items is received and unpacked and the quantities and items checked against the *packing slip*

3rd

The verified packing slip is *sent* to the accounting department

4th

The accounting department *receives the supplier's invoice*

5th

The supplier's invoice is *verified*

6th

The *processing stamp* is placed on the invoice and completed

7th

The purchase is *journalized*

8th

The purchase transaction is *posted* to the appropriate accounts

9th