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DFD

The document outlines the 7-step process for purchasing and managing fixed assets: 1) The executive creative director submits a purchase request that must be approved by the executive vice president. 2) After approval, the finance department creates a purchase order to send to the supplier. 3) The ordered goods are delivered along with invoices and receipts, and the goods go directly to the executive creative director. 4) Once received, the finance department pays the supplier via a discounted check.

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Neil Richmond Recierdo
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54 views4 pages

DFD

The document outlines the 7-step process for purchasing and managing fixed assets: 1) The executive creative director submits a purchase request that must be approved by the executive vice president. 2) After approval, the finance department creates a purchase order to send to the supplier. 3) The ordered goods are delivered along with invoices and receipts, and the goods go directly to the executive creative director. 4) Once received, the finance department pays the supplier via a discounted check.

Uploaded by

Neil Richmond Recierdo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Process 1: Authorize Purchase Request

The executive creative director request for a new asset that will be in a form of
purchase request and need to be approve by the executive vice president

Process 2: Create Purchase order

After the approval of the executive vice president the finance department make a
purchase order and send the purchase order to the supplier

Process 3: Receive Ordered Goods

The arrival of the ordered asset/s include a copy of include a copy of a delivery
receipt and a copy of invoice. The ordered goods directly go to the executive creative
director

Process 4: Pay Ordered Goods

Once the product is received. The Finance department prepares a check address
to the supplier. The amount inputted in the check is discounted.

Process 5: Record Purchased Goods

Right after the payment the accountant records the fixed assets acquired to the
general ledger.

Process 6: Depreciate Fixed Asset

After passage of time. The accountant depreciates the fixed asset, till it becomes
fully depreciated.
Process 7: Disposed Fixed Asset

Once the asset deemed fully depreciated the company disposed the asset
through a donation to schools such as Don Bosco.
Process 1: Authorize Purchase Request

The executive creative director request for a new asset that will be in a form of
purchase request and need to be approve by the executive vice president

Process 2: Create Purchase order

After the approval of the executive vice president the purchasing department
make a purchase order and send the purchase order to the supplier

Process 3: Receive Ordered Goods

The arrival of the ordered asset/s include a copy of include a copy of a delivery
receipt and a copy of invoice. The ordered goods directly go to the executive creative
director. The delivery receipt and the invoice copy are then sent to the purchasing
department

Process 4: Pay Ordered Goods

Once the product is received. The Finance department prepares a check address
to the supplier. The amount inputted in the check is discounted.

Process 5: Record Purchased Goods

Right after the payment the accountant records the fixed assets acquired to the
asset 4000 application. It will automatically depreciate thru time till it become fully
depreciated.
Process 6: Disposed fixed asset

Once the asset deemed fully depreciated the company disposed the asset
through a donation to schools such as Don Bosco

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