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Standard Accounting Procedures, does every Company have them typed out?

Example: Your warehouse department receives in the wrong product on a receipt. Is it written out somewhere on how they are to correct the error? And should the warehouse notify the accounting department of such error?

Answers

EMERSON GALFO
Title: CFO
Company: C-Suite Services
LinkedIn Profile
(CFO, C-Suite Services) |

To answer your question..... YES, written policies/procedures are preferred, but not to the detriment of my point below.

Let me redirect your question as you are asking the wrong questions (goals/focus?)

Is our receiving system savvy enough to flag wrong products received that warehouse does NOT have to notify accounting of such error? Where receipt of product are automatically system checked with orders.

The goal is to have an integrated system where ORDER RECEIPT RECORDING....and the subsequent PAYMENT would have minimal manpower requirement/intervention.

What would it take to have such a system? Your question is just CODIFYING (or wanting to) inefficiencies.

Anonymous
(Accounting Manager) |

Emerson, what is your process for correction with your current system? What does your system allow in order to correct the error?

Topic Expert
Scott MacDonald
Title: President/Owner
Company: AlphaMac Resources, Inc.
(President/Owner, AlphaMac Resources, Inc.) |

Every GOOD company has them. If you don't, you and your company are at a disadvantage.

Janella Crum
Title: Consultant
Company: Tier One Services
(Consultant, Tier One Services) |

Standard procedures and training on those procedures is very important. Creating a visual, such as a decision flow chart, may be an easier way to present the procedure to the floor workers. Also, enlarge and print that flow chart and post in their work area so that they can reference what to do if a situation arises and they are unsure of how to handle it.

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