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Expenditure Cycle
Accounting Information System
The expenditure cycle is a recurring set of business activities and related information processing operations associated with the purchase of and payment for goods and services.
is with suppliers (vendors)
in the expenditure cycle is to minimize the total cost of acquiring and maintaining inventories, supplies, and the various services the organization needs to function.
6
Receiving
7
3
1
Purchasing
Stores
Vendor
Stores
10
2
5
9
11
13
A/P
8
12
Cash Payment
Vendors Data
Purchase requisition sent from inventory control department to purchasing department.
Purchase requisitions from various other departments sent to purchasing department.
A purchase requisition form is an internal document used by an employee to purchase goods or services on behalf of their firm.
Purchase order sent to vendor.
A purchase order is a document sent from a purchaser to a vendor to confirm a specific purchase of goods or services.
Purchase order notification sent to various other departments or to inventory control department.
Purchase order notification sent to accounts payable department.
Receiving notification sent to accounts payable department.
Invoice received from vendor.
Approved voucher sent to cashier.
Accounts payable notification and inventory cost information sent to general ledger system.
A voucher is essentially the backup documents for accounts payable, which are bills owed by companies to vendors and suppliers.
A check is a written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.
A cash disbursement journal is a record of a company's internal accounts that itemizes all financial expenditures made with cash or cash equivalents.
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