QuickBooks Tip – Accounts Payable – Vendor Bill Approvals
A reader asked the following question: Do you know of a good method for indicating or tracking that a vendor bill is approved for payment? Answer: Technically, the bill should be approved before it is input into QuickBooks; and generally indicating on the front or face of the document/purchase order/voucher/vendor invoice or whatever you happen to call it, is usually the relied upon method. 1. Purchasing inexpensive “custom printed stamps” is probably one of the easiest ways in which to start the process. When ordering custom made stamps you can include lines with places for accounting to approve the document signifying that the invoice had all pertinent documentation attached, that the dollar amounts matched, and the date that the invoice was received. Be sure that there is another line or…