Question

ACCOUNTING DOCUMENTS

Required: write a paragraph to answer the following question:

c. What documents does the AP clerk review before setting up a liability?

Answer 1

The documents that the accounts payable clerk reviews before setting up a liability would include the invoices in which a three-way match procedure will be performed, and the packet file consisting of the purchase order, receiving report, and invoice. Once this is filed, the liability will be set up.

The AP clerk should perform a three - way match before setting up a liability .This is helpful for verifying what was ordered and received with the pricing attached . The AP clerk then process the payment with the supporting documents , PO , receiving reports and invoices.