How does a voucher payable system work? What documents are reconciled? Who prepares the voucher? How is the A/P balance determined? How does the voucher payable system improve control over cash?
What will be an ideal response?
In place of a standard accounts payable system, many firms use a voucher payable system. The A/P department prepares cash disbursement vouchers which are recorded in a voucher register. A clerk would reconcile purchase requisition, purchase order, receiving report, and vendor invoice. If all agree, the clerk would prepare the voucher-which vouches the need to disburse cash. This would then be approved by a superior. The sum of all open (or unpaid) vouchers is the A/P balance. Control is improved over cash disbursements because of the itemization of items on the voucher and the authorization required. Without the data and authorization, no check is prepared.
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Fill in the blank(s) with the appropriate word(s).
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This project requires a three-way selection statement and gives more practice with string methods. The case statement can be used since the control expression is a single character, and, in fact, that is what the solution in this manual uses. It may be instructive to show the code using if/else, instead, and compare them for readability. This project will be extended to use a loop in the next chapter.
When a Word document containing a watermark is saved as a webpage, the watermark is not displayed
Indicate whether the statement is true or false