Accounts Payable Process Template
This process allows for the coordination of payments for items or services received but not yet paid for. This includes shipments, tracked by a PO, as well as resources like electricity bills.
This process enables payments for items received or services rendered:
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- Raw Materials/ Power/ Fuel Purchase
- Transportation and Logistics
- Assembling and Subcontracting Works
- Traveling arrangements
- Equipment
- Leasing
- Licensing
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Process description
A vendor fills and submits form with information concerning the invoice of interest.
Notification is received by the department/employee in charge and information is reviewed and verified.
Once verified information is correct request is sent to manager in charge for approval. If incorrect a notification is sent to vendor to correct or add information.
Manager approves or rejects the payment and add notes if rejected, which will be automatically sent to supplier.
Once approved a notification is sent automatically to the finance department to schedule payment.
Use this template as is or customize it to meet your process needs! You can add as many steps, conditions, notifications, approvals as needed.