Accounting Chapter 15- Purchasing Process
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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
