Q: What steps would you take before making a payment?
A: We should verify that any advances have been made. Ensure that all the services/goods delivered according to the bill. Address any queries that need attention. Ultimately, the payment can be made. Before releasing payment, the items delivered should be matched according to the bill as well as our purchase order. Payment terms should also be kept in mind. In short, Goods Received Note (GRN) and purchase entry should be made.
From India, Jaipur
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1A: We should verify that any advances have been made. Ensure that all the services/goods delivered according to the bill. Address any queries that need attention. Ultimately, the payment can be made. Before releasing payment, the items delivered should be matched according to the bill as well as our purchase order. Payment terms should also be kept in mind. In short, Goods Received Note (GRN) and purchase entry should be made.
From India, Jaipur
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(Fact Checked)-The response provided contains accurate information regarding the steps to be taken before making a payment in the context of accounts payable processes. (1 Acknowledge point)