DISBURSEMENT MODULE

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

departments. There shall be two divisions as follows:

Accounts Payable 1
o

Animal Health Products, Feed Ingredients, Dressed Chicken

Ingredients, Supplies

Accounts Payable 2
o

Labor & Services, Construction & Repairs, Growers Fee, Capital

Expenditures

VOUCHER PREPARATION
Items:
For items, Accounts Payable processing shall follow the three-way check. This
means that the following original documents are complete:
a. Purchase Order (For Partial Deliveries, certified true copy should be
attached)
b. Receiving Report (Stamped)
c. Sales Invoice and/or Delivery Receipt
Once the above-mentioned documents are complete, voucher preparation
should be done by the AP Accounting Specialists on or before the weeks cut-of
schedule. All billings countered from last week (Monday to Saturday) shall be
processed not later than Wednesday of the following week, provided all necessary
documents are complete and billings are due already. For billings countered beyond
the agreed payment terms, the payable shall be carried-over on the next cut-of.
After voucher preparation in SAP (refer to Appendix A), the complete
documents will be forwarded to the Accounts Payable Accountant for final
disbursement approval. The documents will be accompanied with a Routing Slip
which shall indicate the important dates and references in relation to the
transaction. After approval of the accountant, the same shall be forwarded to the
Cashier for Check and Voucher printing for transaction requiring check payments.
Otherwise, voucher printing will be done by AP Accountant. Cash/Check vouchers
will then be forwarded to the CFO for cash release/ signing of checks.
Releasing of payments is scheduled every Friday and Saturday by the
Releasing In-charge.
Services:
For service vouchers, the same procedures shall apply except that no RR is
necessary. For service contracts under construction projects, payment request
memo is necessary for the processing of invoice.

Transactions without PO:

For transactions without PO, corresponding attachment should be available to
prove validity of the payment.
CLOSING OF PAYABLES
Closing of payables shall be done by the Accounts Payable accountant not
later than two (2) weeks after payment was released. To do so, refer to Appendix B.
Filing of vouchers shall done by the Accounts Payable Specialist, grouped by
supplier, not later than two (2) weeks after vouchers are closed by the AP
Accountant.