Describe four tasks the accounts payable department computer application performs automatically in the integrated purchases processing system
1 . Using the PO number as a common attribute, the system links the vendor invoice to the associated purchase order and receiving report records.
2 . The system reconciles the supporting documents and creates a virtual AP packet to authorize payment.
3 . The system displays the virtual AP packet on the AP clerk's computer screen for review.
4 . Assuming no discrepancies that demand the AP clerk's intervention, the system automatically approves payment and sets a payment due date.
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Jamie Potts works for a California-based computer manufacturer. According to Jamie, the time required to develop a new product has decreased because of the increased use of ____ software.
A. CAB B. CAD C. CAP D. CAM E. FMS
A company's payroll information for the month of May follows: Administrative salaries …….…….…….…….……$4,000Sales salaries…….…….…….…….…….…….…5,500FICA-Social Security taxes withheld…….…….…589FICA-Medicare taxes withheld…….…….…….…138Federal income taxes withheld…….…….…….…1,300Medical insurance premiums withheld…….…….415Union dues withheld…….…….…….…….…….205On May 31 the company issued Check No. 4625 payable to the Payroll Bank Account to pay for the May payroll. It issued payroll checks to the employees after depositing the check.The federal and state unemployment tax rates are 0.6% and 5.4%, respectively, on the first $7,000 paid to each employee. The portion of May wages and
salaries subject to these taxes were $6,000. (1) Prepare the journal entry to record (accrue) the employer's payroll for May. (2) Prepare the journal entry to record payment of the May payroll. (3) Prepare the journal entry to record the employer's payroll taxes. What will be an ideal response?
A Gallup survey reported a link between diversity to what organizational outcome?
a. increase in employee dissatisfaction b. increase in employee satisfaction c. increase in employee performance d. increase in employee stereotyping
The major focus of individual spot awards is on:
A. rewarding group or team performance B. linking increases in base pay to employee ratings on performance evaluations C. promising pay for some objective, pre-established level of performance D. rewarding employees with monthly increments to keep up their motivation E. awarding employees for exceptional performance on a special project