Purchase
and
Payment
Cycle
,Stages in this Cyc
Purchasing Requisition
Ordering
Receiving of Good/supp
Recording of the Purcha
Payment
Recording of Payment
Returning Goods
, Purchase and Payment Cycle
Goods and services are acquired by a business for resale or for manufacture of
product, so the consequences of a poor acquisitions cycle will have a very
negative effect on the business. If the correct products are not available, sales
be lost, and production may be halted. It will not be long before the company g
a reputation for being unreliable and customers will go elsewhere. Purchasing
goods that do not sell or which cannot be used because of demand or quality
issues will also result in losses. It is important therefore, that the correct goods
the required quality and price are acquired and that they are received timeous
and
Payment
Cycle
,Stages in this Cyc
Purchasing Requisition
Ordering
Receiving of Good/supp
Recording of the Purcha
Payment
Recording of Payment
Returning Goods
, Purchase and Payment Cycle
Goods and services are acquired by a business for resale or for manufacture of
product, so the consequences of a poor acquisitions cycle will have a very
negative effect on the business. If the correct products are not available, sales
be lost, and production may be halted. It will not be long before the company g
a reputation for being unreliable and customers will go elsewhere. Purchasing
goods that do not sell or which cannot be used because of demand or quality
issues will also result in losses. It is important therefore, that the correct goods
the required quality and price are acquired and that they are received timeous
