STANDARD OPERATING PROCESS

STANDARD OPERATING PPOCESSES ( SOPs)

Broadly the Accounting SOPs can be divided into three major categories

1. Intending to Payment

2. Marketing to Cash

3. Consolidation and Finalization


INDENDING TO PAYMENT


The various steps in this are

1. INDENTING

2. VENDOR MANAGEMENT / REGISTRATION

3. PROCUREMENT

4. RECEIPT OF MATERIAL OR SERVICE

5. PROCESSING OF VENDOR"S INVOICE

6. PAYMENT PROCESSING

7. VENDOR ACOOUNTS SETTLEMENT AND RECONCILLIATION

8. DISCHARGING OF TAX LIABILITY


MARKETING TO CASH

1. MARKETING BUDGETING

2. SPEND ON MARKETING TRACKING AGANIST BUDGET

3. CUSTOMER MANAGEMENT / REGISTRATION

4. CREDIT LIMIT SET UP FOR CUSTOMERS

5. CUSTOMER ORDER RECEIPT

6. CONTRACT / PO WITH ALL CONDITIONS FOR SUPPLY/SERVICE

7. PRODUCTION PLANNING AS PER ORDER TERMS

8. INVOICING

9. COLLECTIONS & APPLICATION











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