-Operation --- Insurance
-Fixed Assets purchase
For IT Equipment, K.Chayada (Assistant Accounting Manager) can immediately record Account Payable and record fixed assets into Fixed Assets Register via company’s internally developed software called “Asset Code” after receiving assets since there has been proper document approval from K.Vannee (Managing Director) before purchasing. K.Chayada will record after receiving invoices and quotation from K.Kanchana (IT Manager).
For other fixed assets acquired, the invoices must be approved by K.Vannee (Managing Director) first before recording. After invoices have been approved, K.Chayada will record Account Payable and record fixed assets into Fixed Assets Register. Accounting entry as followed;