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  2. Accounts payable - Wikipedia

    en.wikipedia.org/wiki/Accounts_payable

    A variety of checks against abuse are usually present to prevent embezzlement by accounts payable personnel. Separation of duties is a common control. In countries where cheques payment are common nearly all companies have a junior employee process and print a cheque and a senior employee review and sign the cheque.

  3. Invoice processing - Wikipedia

    en.wikipedia.org/wiki/Invoice_processing

    The typical workflow is a four-step process beginning with 1. Import of the images through scanning or email, 2. Identification of the vendor and business unit associated with the invoice, 3. Data extraction, and 4. Export of the extracted data and images.

  4. Procure-to-pay - Wikipedia

    en.wikipedia.org/wiki/Procure-to-pay

    Procure-to-pay (also known as Purchase to Pay (P2P)) is a term used in the software industry to designate a specific subdivision of the procurement process. The P2P systems enable the integration of the purchasing department with the accounts payable (AP) department. Some of the largest players of the software industry agree on a common ...

  5. Factoring (finance) - Wikipedia

    en.wikipedia.org/wiki/Factoring_(finance)

    Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount. [1][2][3] A business will sometimes factor its receivable assets to meet its present and immediate cash needs. [4][5] Forfaiting is a factoring arrangement used in ...

  6. Accounting information system - Wikipedia

    en.wikipedia.org/wiki/Accounting_information_system

    Accounting. An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources.

  7. General ledger - Wikipedia

    en.wikipedia.org/wiki/General_ledger

    v. t. e. In bookkeeping, a general ledger is a bookkeeping ledger in which accounting data are posted from journals and aggregated from subledgers, such as accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects. [1] A general ledger may be maintained on paper, on a computer, or in the cloud. [2]

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