Basic understanding of Accounts Payable Upstream and Downstream activities to the commerce and Finance students

Hello friends,

Today we are going to discuss about the upstream and downstream activities of the accounts payable department.

A. Upstream Activities: -includes

Vendor Master Data, Purchases Order Creation, Receipt of Goods/Services, Booking of Goods Received.

B. Accounts Payable Activities: -includes

Invoice Management, Data Entry, Vendor Master Data, Approvals and Accounts coding (Non-PO),  Dispute resolution, Vendor Payment, Accuracy and Duplicate order, Query Resolution, vendor and GRIR reconciliation.

C. Downstream Activities: -includes

CAsh Application, Bank Sgtatement Booking, General Ledger Closing.