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DISBURSEMENT MODULE

Set-up: Accounts Payable (AP) processing shall be centralized for all

departments. There shall be two diisions as follows:

Accounts Payable !

o Animal "ealth Products# $eed %ngredients# &ressed 'hicen

%ngredients# Supplies

Accounts Payable

o *abor + Serices# 'onstruction + ,epairs# rowers $ee# 'apital

/0penditures

VOUCHER PREPARATION

Items:

$or items# Accounts Payable processing shall follow the three-way chec. Thismeans that the following original documents are complete:

a. Purchase 1rder ($or Partial &elieries# certi2ed true copy should be

attached)

b. ,eceiing ,eport (Stamped)

c. Sales %noice and3or &eliery ,eceipt

1nce the aboe-mentioned documents are complete# oucher preparation

should be done by the AP Accounting Specialists on or before the wees cut-o4

schedule. All billings countered from last wee (5onday to Saturday) shall be

processed not later than 6ednesday of the following wee# proided all necessary

documents are complete and billings are due already. $or billings countered beyondthe agreed payment terms# the payable shall be carried-oer on the ne0t cut-o4.

After oucher preparation in SAP (refer to Appendi0 A)# the complete

documents will be forwarded to the Accounts Payable Accountant for 2nal

disbursement approal. The documents will be accompanied with a ,outing Slip

which shall indicate the important dates and references in relation to the

transaction. After approal of the accountant# the same shall be forwarded to the

'ashier for 'hec and 7oucher printing for transaction re8uiring chec payments.

1therwise# oucher printing will be done by AP Accountant. 'ash3'hec ouchers

will then be forwarded to the '$1 for cash release3 signing of checs.

,eleasing of payments is scheduled eery $riday and Saturday by the,eleasing %n-charge.

Services:

$or serice ouchers# the same procedures shall apply e0cept that no ,, is

necessary. $or serice contracts under construction pro9ects# payment re8uest

memo is necessary for the processing of inoice.

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Transactions wito!t PO:

$or transactions without P1# corresponding attachment should be aailable to

proe alidity of the payment.

CLOSIN" O# PA$ABLES

'losing of payables shall be done by the Accounts Payable accountant notlater than two () wees after payment was released. To do so# refer to Appendi0 .

$iling of ouchers shall done by the Accounts Payable Specialist# grouped by

supplier# not later than two () wees after ouchers are closed by the AP

Accountant.