4-70-040 Objectives of Accounts Payable System
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The objectives of the accounts payable system are to ensure that:
(1) Vendor invoices are supported by appropriate documentation, such as: purchase order, packing slip or receiving report;
(2) Vendor invoices are paid in a timely manner, taking advantage of vendor discounts for prompt payment when practical;
(3) To ensure that a review for compliance with laws and regulations has been performed. [Res. 2021-02-015 § 2 (Att. 1), 2021.]