TAX Accountant Interview Question:

Tell me the procurement process in brief?

Submitted by: Muhammad

Some of the key documents which should be thoroughly verified during the accounting process are:

☛ Purchase Requisition
☛ Purchase Order (and Contract where there is pre-existing contract with the vendor)
☛ Vendor Invoice
☛ Material Receipt Note
☛ Delivery Challan
☛ Documentation for evaluation of rates at which product is procured
☛ Tax related documentation, if any
Submitted by: Muhammad