A legal obligation arises at the time goods are received from a supplier.The objective of accounts payable is to authorize payment only for goods or services actually ordered and received.The best way to process supplier invoices is to use

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A disbursement voucher system allows for the matching of purchase orders, receiving reports, and supplier invoices to ensure that payment is only made for goods or services that have been ordered and received. Electronic funds transfer and EDI are methods of payment and do not ensure that the correct goods or services have been received. A nonvoucher system does not provide a formal process for matching and verifying invoices.

A Legal Obligation Arises at the Time Goods Are Received