Why does a company/business require an Accounts payables process?

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Why does a company/business require an Accounts payables process?

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Accounts payable process is required in a company because this will help and guide the accountant to manage their payables with in the normal course of the business This includes verifying and checking the invoice details including the credit terms, due date, mode of payment, payee and the items received Only the items received will be paid Incase theres a discrepancy against the actual receipts, a credit note will be raised by the supplier against the short-shipped invoice At the end of the month, AP reconcilition is required confirming both parties balances thru the statement of accounts (SOA) This you can identify which invoices or payment hasnt been booked yet by both parties and you will end up with the same balances, (equal balance from your company and with their company)

More questions

1. How would you automatically transfer your visitors to a new web page?

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Correct Answer: - You can do it with the help of meta tag mentioned below:

<META HTTP-EQUIV="Refresh" CONTENT="2"; URL="https://wwwyoursitecom">

Place this tag between <HEAD></HEAD> - It will load yousitecom in 2 seconds

3. Cash Reserve Ratio ( CRR) and Stautory Liquidity Ratio (SLR ) are terms most closely related to which of the following industries/markets :
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A. Mutual Fund
B. Income Tax
C. Stock Exchange
D. Banking

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