Chapter 5. Procurement Activities
As a company, Sistematika Fashion, Ltd., produces its finished goods using two methods: make to order and make to stock. With make to stock, the company will produce the goods and keep the finished goods in their warehouse prior to the sales activity.
We will practice a make to stock activity and learn how to perform tasks related to this activity (especially the procurement parts) step-by-step, and will see the result in our accounting fact/General Ledger journal entry generation. In short, we will practice the following activites:
- Purchase Requisition
- Purchase Order
- Receiving material
- Managing Vendor Invoice
- Performing a Vendor Payment
- Reconciling a Vendor Payment
Before we start working on these activities, we will ...
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