Accounts Reconciliation Blog

The success of any business’ operation largely depends on its financial position. Therefore, it is very important that all the entries in the books are well accounted for. This is where the question “what is full cycle accounts payable” falls. This involves a process wherein the correctness and accuracy of documents exchanged by the vendor and the purchaser.

What is full cycle accounts payable? This is the verification process of the original invoice from the vendor, the purchasing order from the purchasing entity and the receiving slip. Once all of the documents have been authenticated, a check or number of checks is/are issued to the vendor. The process also includes the sending or mailing of the check to the vendor. This cycle is concluded by recording of the transaction for audit and reference.