rama krishna dasari

• May 20th, 2006

 

before make a payment to party the following steps have to be taken1. whether we are dealing with the party2. whether the transaction occured properly3. what is the payment mode4. whether the service properly completed by the company

vijaya

• May 25th, 2006

 

Steps to be taken before making a payment:1. Whom the payment is made to?? supplier/employess/govt etc--establish the party to the payment.2.Purpose of the payment--payment against a bill or not ??if against a bill-- authentication & substantiation of the invoice/bill -- approval ( in other words), goods receipt, services rendered, salary payable ( adjustment of advances etc), due dates for taxes.If thepayment is on account-- chech for the approval and the typeof payment. Is the payment againt future service ??3. Priority of the payment. Whether the payment is due or over due . Check the payment maturity status.4. Charges & deductions againt the bill.If the payment is made to any person/organisation? Applicable taxes & charges are deducted or not??5.Check the fund status before making a payment , as the negotiability of the cheque or availability of funds in the bank, if the payment id thru bank.6. Is payment is on completion of service satisfactory completion proof??

suryaprakash B

• Jun 1st, 2006

 

We should veryfy that any advances have been made.

See that all the services/goods delivered according to bill

Any quiery is there to attend on that

ultimately can be made payment

Manishas

 Profile Answers by Manishas 

• Jun 11th, 2006

 

Steps before making Payment.

1> Define Suppiler in Supplier Master including Terms, Pay group, Payment type and other details.

2> Do Invoice Entry.

3> Approve Invoice

4> Register Bank Name with check Number in Payments Setups.

After completing above steps PAyment Entry can be done.

ventakof

 Profile Answers by ventakof 

• Sep 13th, 2006

 

Thanks for all answers, I find them very useful

Thanks again

ramam srinivas

• Sep 17th, 2006

 

Intially check the material supplied as per the order if it has been supplied through a purchase order

Match the items in the PO to GRN and verify the price with the quotation

Qty and the price matches check we paid any advance payment made to the supplier or it has any LC or any Cahs against shipping documents.

Check the bank details which matches with the supplier has provided matching with the bank details with us

Release the payment as per terms and conditions

satish

• Nov 23rd, 2006

 

before making a payment

1st thing must check any balance is there or not

than make payment

Alveretta Thomas

• Jul 15th, 2017

 

What steps should be taken after verifying the accuracy when paying for purchases?

Guru

• Jul 24th, 2017

 

Before making payment need to check the invoice processed and approved by proper DOA correctly, Due date of the invoice if any, invoice currency processed correctly.