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What happens to all non-posted receipts and or expenditure documents prior to an inventory?

1 Answer

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Final answer:

Non-posted receipts and expenditure documents are organized and stored prior to an inventory to maintain accurate inventory and financial records.

Step-by-step explanation:

Prior to an inventory, non-posted receipts and expenditure documents are typically organized and stored. These documents are important for record-keeping and auditing purposes. They can provide evidence of transactions and serve as a reference when reconciling inventory and financial records.

For example, if a company purchases inventory but forgets to post the receipt in their accounting system, the non-posted receipt can be used as supporting documentation to ensure that the inventory is accurately accounted for during the inventory count.

It's important for businesses to have proper procedures in place to track and manage non-posted receipts and expenditure documents to maintain accurate inventory and financial records.

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