Sign & Digital Graphics

October '17

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S I G N & D I G I T A L G R A P H I C S • October 2017 • 31 ing department and it is entered into the spreadsheet, the data can be sorted in a number of meaningful ways. The Importance of Checks and Balances Once an order is placed, your com- pany awaits delivery. When the ordered goods arrive, they are typically accom- panied by packing slips. Insist that the person authorized to sign for deliver- ies opens the packages and checks the content against the packing slips. This person should note accuracy, or any discrepancies, on the packing slips. The shipment and the packing slip are then delivered to the person who ordered the goods. If the ordering party's name does not appear in the address section of the label, the initials will be part of the PO number. The annotated packing slip is then checked against the purchase order. Again, any discrepancies, such as items on backorder, are noted on the PO. If the items need to be entered into an inventory system, that should be done immediately. All paperwork, the purchase order, and packing slip (which sometimes doubles as the invoice), should be expeditiously routed to the accounting person/depart- ment. There is one cardinal rule every business must follow at this juncture: the person authorized to place the order shall not be the same person authorized to pay the invoice. Even Mom and Pop enterprises should keep these two func- tions separated. Why? When the person placing the order, signing for receipt of the goods, and writing out the check is one and the same, all sorts of questions of potential fraud can be raised during an audit of the books. Enough said. Also, insist that all invoices, whether they arrive separately or are of the pack- ing slip/invoice variety, go directly to your Accounts Payable delegate. When the invoice is date-stamped into account- ing, it should be matched up to the PO. One final check is made: the anno- tated PO is compared to the invoice. Discrepancies are noted and investigated by contacting the originator of the pur- chase order. Fail-Safe Payment System First, set up a simple payment system. If you are fortunate enough to utilize an accounting program, you are blessed with electronic reminders and automated payment features. If you do not use com- puter software, you may want to adopt the following filing system. When you receive an invoice and determine it to be valid and accurate, next determine the due date for payment. For example, if the bill is due upon receipt, you should process the payment imme- diately. However, often the supplier will extend payment terms to your company. The most common payment terms are "Net 30," which typically means you have 30 days from the date of the invoice— generally the date of shipment from the vendor—to pay the bill. I would recommend buying an accor- dion file with 31 pockets, numbered for each day of the month. Let's assume today is the 21st of the month and your AP delegate receives an invoice dated the 15th. The terms are Net 30, making the payment due on the 15th of next month. The AP clerk should stamp the invoice "APPROVED," issue the check, ensure copies for your records are retained, and prepare an unsealed envelope for the mail. The payment envelope is then placed into the pocket of the accordion file on the numbered day that the pay- ment should be mailed—two or three One cardinal rule every business must follow: the person authorized to place the order shall not be the same person authorized to pay the invoice. MORE THAN JUST A RIP, A FULL FEATURED SOLUTION FOR PRINTING BUSINESSES! Version 11 Highlights: • APPE 4: New APPE 4 includes smoother shades, extensive spot color handling and seamless gradient blend • PrintBleed: Pixel cloning and contour duplication to expand print area • Sync&Deploy: Synchronize RIP station and Print configurations. Manage updates in one click and deploy them automatically through the entire company • OpenCL: Boosted computing for higher RIPPING speeds • Optimized for Print Clustering and Digital Presses RIP SOFTWARE FOR PRINT-TO-CUT WORKFLOW 2017 Top Product Wide-Format & Signage Readers' choice awards: RIP, Web-to-Print & Workflow Software Meet us at SGIA New Orleans - Booth 345 www.caldera.com

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