Who is responsible for the invoice review process?
Internal Controls No agency employee will have sole authority of or responsibility for control over the invoice review and approval process. Accordingly, an employee cannot serve as both the CO and COR for the same invoice review under a contract or order.
Who is responsible for the credit approval process?
Keeping that in mind, you are correct in stating that a salesperson is the ambassador for the company but sales does have some responsibility in the credit approval process. Specifically, the salesperson should perform an initial screen on potential customers by asking some questions and requesting credit information.
What do you need to know about the approval process?
In any organization, work often needs to be formally approved before it can begin. Budgets, creative projects, marketing initiatives, invoices, and many other work items all move through a series of approvals before they are considered either ready for kickoff or complete.
When to contact COR for invoice review?
The COR is required to review the invoice and contact the CO immediately if a problem or deficiency exists which may preclude payment of the invoice in part or in full. The COR should initially review the invoice to ensure the presence and accuracy of the information, including compliance with contract requirements and NRC Billing Instructions.
Why is the Bol the most important shipping document?
Why it’s important: A BOL is the most important shipping document in international shipping and must be included no matter the form of transportation. It’s important to fully understand all the detailed information to be included to assure shipments are legally received.
What does a dock or warehouse receipt mean?
A Dock or Warehouse Receipt is a shipping document that proves a shipment of goods has been received by the international carrier and includes all the critical information about the shipment including characteristics, size, dimensions, and weight.