Payment Proces

S T U D E N T O F B M U R O H TA K

BY :-NEERAJ SINDHU

B.TECH, MBA (FINANCE &

MARKETING)

payment Process

Payment order Sequence

I. Purchase requisitionII. Purchase order / service order III.Goods receipts notesIV. Work completion certificateV. Bills payment advice

Purchase requisition

In this the company will make a list of what type of product or good should be purchased from were and why.

Then the company will forward this requirement for the further process .

Purchase order/ Service order

In the purchase order we need to make a receipt according to the our/company requirement.

This receipt consist of types of goods Quantity, Quality and vendor name.

Date of order , order no.every contract has difference T&C .

Goods receipts notes

In the receipts notes we have to check goods quantity and quality.

After the checking we also need to give physical certificate.

The quantity of goods are matching PO or not.

Check order no and order date.Price matching with PO

Work completion certificate

At the last user department give the work completion certificate after the completion of the order or work.

Check the goods and service at the work time.

If we don’t give the work completion certificate then the payment process would be on hold.

Bills payment advice

In the bill payment advice we check the all types of advance pay and pending pay.

Add the transportation costIf we give the order from foreign country

then we can pay demurrage charge according to time and weight.

Due date and order no.Tally the invoice amount and the actual

amount.T &C apply.

Ready to pay

After this the payment order is ready for the payment.

If in case any sequence order doesn’t satisfy then the payment order is not ready for the payment.

THANK YOU