Lesson: The Cash Disbursements Process

This lesson delves into the cash disbursement process, exploring different steps involved in the expenditure cycle. It provides insights into the importance of separating duties and the role of employees in different departments such as purchasing, receiving, accounts payable, general accounting, and treasurer. The lesson explains the significance of documentation in the process, including purchase requisitions, purchase orders, receiving reports, vouchers, and remittance advice. Through the use of flowcharts, Nick Palazzolo makes it easy to understand the flow of information and documents between departments, and highlights best practices in auditing and ensuring accuracy in the process.