Finance Accounts Payable Reference Architecture
Why re-invent the wheel when you can rapidly document your finance system architectures with templates
There are generally fairly common steps across finance departments the world over when it comes to the Accounts Payable process. As with every enterprise organisation, there are always nuances along the way so it’s important to adapt these architectures to accurately document your actual process.
- Finance team will send a Purchase Order to the Vendor/Supplier
- Vendor will complete the work/services or send the Goods to the Business
- Finance team will complete the Goods Receipt Process
- Vendor will send the Invoice
- Finance team will Review the Invoice
- Add it to the Finance System
- Match it to the original Purchase Order
- Code the Invoice Line Items to the correct Chart of Accounts Code
- Approve the Invoice
- Pay the Invoice
- Reconcile the Transaction
Simplified Accounts Payable Reference Architecture
Full Accounts Payable Reference Architecture
