its only for learning student, because its in easy language....

1. Payment Proces
S T U D E N T O F B M U
R O H T A K
BY :-NEERAJ
SINDHU
B.TECH,
MBA (FINANCE &
MARKETING)

2. payment Process

3. Payment order Sequence
I. Purchase requisition
II. Purchase order / service order
III. Goods receipts notes
IV. Work completion certificate
V. Bills payment advice

4. Purchase requisition
 In this the company will make a list of what
type of product or good should be purchased
from were and why.
 Then the company will forward this
requirement for the further process .

5. Purchase order/ Service order
 In the purchase order we need to make a
receipt according to the our/company
requirement.
 This receipt consist of types of goods
Quantity, Quality and vendor name.
 Date of order , order no.
 every contract has difference T&C .

6. Goods receipts notes
 In the receipts notes we have to check goods
quantity and quality.
 After the checking we also need to give
physical certificate.
 The quantity of goods are matching PO or
not.
 Check order no and order date.
 Price matching with PO

7. Work completion certificate
 At the last user department give the work
completion certificate after the completion
of the order or work.
 Check the goods and service at the work
time.
 If we don’t give the work completion
certificate then the payment process would
be on hold.

8. Bills payment advice
 In the bill payment advice we check the all
types of advance pay and pending pay.
 Add the transportation cost
 If we give the order from foreign country then
we can pay demurrage charge according to time
and weight.
 Due date and order no.
 Tally the invoice amount and the actual
amount.
 T &C apply.

9. Ready to pay
 After this the payment order is ready for the
payment.
 If in case any sequence order doesn’t satisfy
then the payment order is not ready for the
payment.

10. THANK YOU