This tool highlights points to consider when rating the priority of an organization’s accounts payable system functional requirements.
Checklist items include: having the ability to create voucher invoice templates, to integrate with fixed assets to automatically set up depreciable assets from vendor invoices, to track invoices by expense category, to mark a voucher as “Recoverable” to indicate that the expense can be billed to fund, to integrate with accounts receivable to allow for automatic billing of recoverable vendor invoices without re-entry, to have vendors directly submit invoices online, and to close or cancel invoices that will not be paid and to assign a reason code.
Policies & Procedures
Accounts Payable Policy
Risk & Control Matrices - RCMs
Accounts Payable RCM