What are the steps taken in the basis technology cash disbursement system?
Each day the AP clerk reviews the AP packets in the open AP file for items due and sends the supporting documents to the cash disbursements department.
Cash disbursements reviews the documents for completeness and accuracy and prepares a three-part check, recording the check number, dollar amount and other pertinent data in the check register.
The check and supporting documents goes to the cash disbursements manager or treasurer for signature. Negotiable portion of the check is mailed to the supplier. The clerk returns the AP packet and check copy to AP and files the other copy of the check. Entries made to the check register are summarized and sent to the GL department as a journal voucher.
AP clerk removes the liability by debiting the vendor's digital AP subsidiary record, files the AP packet and sends an AP summary to GL.
Based on documents received from cash disbursements and AP, the GL clerk posts to the control account and files the documents.
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