Filing system of payment record
Contributed by CHERYL TEO SIEW CHERN
Present Situation:
Payment Record Form was filed in the date of payment. Retrieving payment record form (PRF) for a particular vendor is difficult to retrieve as one has to login to SAP to see which payment run was done and rely on Account payable colleague to retrieve.
Improvements:
Filing PRF by company name, sort by alphabetical order will enable accounts colleague to retrieve information easily and pulling out records for their funds reconciliation reporting. By sorting out all the instructor fees payment and file separately will ease audit check too. The new filing system will help the audit in terms of their vouching process and speed up the process. They no longer has to rely on accounts colleague to pull out the records for them. It also helps to prevent double payment when all payment to same vendor are being filed together, we can check the records easily.
Present Situation:
Payment Record Form was filed in the date of payment. Retrieving payment record form (PRF) for a particular vendor is difficult to retrieve as one has to login to SAP to see which payment run was done and rely on Account payable colleague to retrieve.
Improvements:
Filing PRF by company name, sort by alphabetical order will enable accounts colleague to retrieve information easily and pulling out records for their funds reconciliation reporting. By sorting out all the instructor fees payment and file separately will ease audit check too. The new filing system will help the audit in terms of their vouching process and speed up the process. They no longer has to rely on accounts colleague to pull out the records for them. It also helps to prevent double payment when all payment to same vendor are being filed together, we can check the records easily.
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