AP Voucher Entry
Published: 09 January 2013 01:32 PM
Audit Requirement
When completing an Accounts Payable voucher, the description field is required to be filled in with an appropriate description. The description needs to tell what we are paying for and why to adequately document the business purpose of all transactions. Without adequate descriptions an audit trail is missing and accountability and transparency is diminished for those transactions. The description also helps to distinguish whether this is a service or supply for 1099 purposes. (Example)
