The purchases system Flashcards
1
Q
What are the 11 parts to the purchases system?
A
- purchase requisition
- quotation
- purchase order
- delivery note
- goods received note
- purchase invoice
- purchase invoice register
- checks
- authorisation
- purchases daybook
- post to ledgers
2
Q
What is purchases requistion?
A
-form asking some in authority for permission to buy something
3
Q
What is a purchase order?
A
-raised by the buying department and sent to supplier
4
Q
What is the purchase invoice register?
A
-list the invoice in this and give the invoice a sequential number
5
Q
What do you record in the purchases daybook?
A
-record of invoices relating to credit suppliers
6
Q
What are 4 controls of the purchases system?
A
- avoid ordering goods we don’t need
- avoid paying for goods we haven’t received
- avoid paying for the same goods twice
- avoid paying for faulty goods
