Prepare flowchart for the expenditure cycle narrative

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Reference no: EM131423158

Required: Prepare a flowchart for the Expenditure Cycle narrative below. Make the flow chart with documents. When the warehouse department decides that it needs to order some more inventory it manually fills out a 2-part purchase requisition and updates the requisition master file on the computer. It then sends one copy to purchasing and one copy to the customer. The purchasing department receives the purchase requisition from the warehouse department. The purchasing agent uses the requisition to create a 4-copy purchase order in the computer system. Copies of the purchase order are sent to accounts receivable, shipping, and the warehouse. One copy is also filed in the purchasing department by date along with the purchase requisition. The warehouse also files the purchase order by date. The receiving department receives and counts the goods from the vendor, comparing quantities with the vendor’s packing slip. They update the purchases received transaction file in the computer, file the packing slip by vendor name, and send the goods to the warehouse. The warehouse department receives the goods from the receiving department, and puts the goods on the shelf. Upon receiving the vendor invoice, the accounts payable department manually prepares a disbursement voucher. Then they enter it into the computer, thereby updating the purchases invoiced transaction file. Accounts payable then sends the vendor invoice and disbursement voucher for payment to the cashier. Upon receiving the vendor invoice and disbursement voucher, the cashier department enters the information into the computer. The computer process prints the checks, updates the cash disbursement transaction file, and prints a cash disbursement register. The cashier department signs and mails the checks to vendors. One copy of the cash disbursement register is filed by date, and the other copy is sent to the warehouse where it is also filed by date. The cashier department also sends the vendor invoice and disbursement voucher to accounts receivable.

Reference no: EM131423158

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