USA Accounts payable basic procedures

[NottheAccountant]

I am in the 9th year of my small company. For those 9 years my accountant has insisted that I waste one of my employees time stamping invoices with a check number and date on which the invoice was paid even though there is a copy of the check already with the paid invoice. Can someone please tell me where in GAAP that it says I have to do this? It is a huge time/money waster.

 

[Fidget]

Sounds like it's more for an audit trail than GAAP. Even so, it seems a bit of an archaic method to me.

 

[smallbushelp]

Nope, there's no GAAP requirement for that. It's a company procedural issue and an outdated one at that. Tell your accountant that you are changing your procedure and if he/she doesn't like it, it may be time for you to find an accountant with a more up-to-date attitude.

 

[NottheAccountant]

Nope, there's no GAAP requirement for that. It's a company procedural issue and an outdated one at that. Tell your accountant that you are changing your procedure and if he/she doesn't like it, it may be time for you to find an accountant with a more up-to-date attitude.

That is what I thought. Thank you!!!