As a person who has 50 years experience in Audit, actually hands-on audit I really support these videos and the practical information they contain....well done Amanda! A 'home truth" is that when the second person is authorising a batch of EFT payments the reality is, that person often does not thoroughly check those payments....the payment file can be just so large it would take too long to do the job properly.....methinks the auditor needs to be aware of this issue. Thanks

This is one of the best preparations for understanding the full AP process especially if you are having an interview.

Great video! Helped a lot as a refresher before I started applying for accounting jobs

You're literally saving my life today Dr. Amanda! ♥️ Your videos are really helpful! God bless!

@englishpracticewithsiddub6906

2 жыл бұрын

Hi. Shara. I like ur comments . I would like to interact you.pls advise map to each u.

Some concepts I forgot, after watching video remembered all. Nice way of teaching.

Now thats love Amanda ....Thanks for the detailed explanation❤

these videos are currently saving my life thank you so much!

@amandalovestoaudit

3 жыл бұрын

You're so welcome Samantha :)

From the Horse's mouth, as always, thank you Doc for your valuable time you are taking to put up together these wisdom nuggets, we sincerely appreciate the tireless effort.......lots of love from Zim....looking forward to part two......cheers and stay safe, Doc

@amandalovestoaudit

3 жыл бұрын

Love reading your messages Bvumayi! Stay safe and keep up the hard work 💪❤️

You are helping me a lot with my auditing study in English.

Thanks, Amanda. Your video is very helpful.

Thank you for clear video Amanda u made it so easy that even a layman can understand.appreciate your efforts 👏👏👏👏👏❤️😘❤️❤️ love from India

Thank you so much, your videos are very helpful!

Thank you so much, Amanda!:) Amazing videos, and your explanation is totally easy to understand:)

@amandalovestoaudit

3 жыл бұрын

You are very welcome Dewa 😊

another great video, thanks Amanda! :)

@amandalovestoaudit

3 жыл бұрын

You’re welcome Gervith 😊

Amazing video, Thank you so much 🙏

Thanks Amanda! Great video

@amandalovestoaudit

3 жыл бұрын

Thank you Siyasanga 🙏☺️

Thanks for the great video Dr. Amanda📝

@amandalovestoaudit

3 жыл бұрын

You’re welcome Glory - thank you for leaving a comment 🙏 hope your studies are going well 😊

Excellent presentation!

Thanks...you cleared all my confusion

Thank you so much for this ma'm❤️

@amandalovestoaudit

3 жыл бұрын

My pleasure 😊

Thank you so much, this is just awesome!

@amandalovestoaudit

3 жыл бұрын

You’re welcome Anna!

Great explanation, Dr. Amanda.

@amandalovestoaudit

2 жыл бұрын

Thank you!

You are so good to explain all the accounts payable process =9

@amandalovestoaudit

2 жыл бұрын

Thank you Julia 😊

Great video Thanks Amanda

Good presentation. Have learned a lot

amazing content ,Thankslot

Excellent!

It's helpful. Thank you

Thanks for the information 👍

That was so helpful thank you so much

@amandalovestoaudit

3 жыл бұрын

You're so welcome 😊

Thank you ☺️

Thanks from India Kerala. 🎉👏

Great video yet again! Loving this series. Could you do a video on accruals? I'm working on a file where for vacation accruals on the balance sheet, the procedure is to come up with an average accrual and compare to the entries within the vacation accruals detail g/l. My confusion is that the test is looking at transactions but our procedure is to ensure the completeness and accuracy of the balance.. Am I missing something? Sigh. My manager and team are just SALY, but I would like to be more efficient and understand the why.

@amandalovestoaudit

3 жыл бұрын

Are you auditing / checking individual transactions? Or using the transactions to calculate the average? It sounds like they are trying to estimate the accrual balance - by potentially taking samples of vacation/leave transactions and then extrapolating. It is one way of gathering evidence - but will only work if behaviour this year is similar to last year. I’d be asking if you could check some accruals made during the year to the requests for leave etc to confirm. It is so awesome that you are questioning the SALY approach!

it is relly good inormtion nd vedio is relly good

So valuable

Your lectures are very helpful and understandable. Thanks! I just have a question in this section. If supplier requests advance payment, how would this process affect?

@amandalovestoaudit

3 жыл бұрын

Hi :) This is a great question - there would need to be a process to ensure that the payment to the supplier is appropriately approved with some sort of proof of the order.

I love your videos! Can you do one on IPE and tax sox audits?

@amandalovestoaudit

3 жыл бұрын

Hi Westielover! IPE isn’t something we have much to do with in Australia, nor is SOX work in our curriculum - but I can do some research - however it won’t be something I tackle until I finish the current series on auditing various accounts.

Thankyou mam

Amanda , I am your first student from Chad 🇹🇩

Your explanation is too good! I am having couple of questions for you. In 6th Step, Vendor raised invoice 50 goods Worth $100 instead of 45 goods. Later, traced this and communicated each other. Now, how to adjust this by the Vendor or Supplier? What journal entry is required to pass in both the party's(Vendor & Customer) books of accounts? 2) When people are going to do the 2 -Way matching perfectly, still what is the necessity of 3-Way matching? What are the advantages and disadvantages of 2-way and 3-way matching? Which method is more authenticate between these two? Kindly clarify me and once again am appreciating you that your explanation is more informative and really it is valuable.

@amandalovestoaudit

3 жыл бұрын

Hi Srihari - a great set of questions. For the 1st one, you can only request the client change their accounts. If the supplier and the client have come to an agreement - then that is what must be accounted for. If the supplier agrees to have the client pay only for 45 items - then the Acc Payable should reflect that. The two way match only works in certain conditions and where a contract is in place that the two documents that are being matched are sufficient. Without that contract and agreement, a 3 way match is best

Awesome

❤ excellent 👍

@amandalovestoaudit

3 жыл бұрын

Thank you so much Yasar 🙏😊

Hello Dr. Amanda, If possible to share the whole process P to P journal entries. Like Purchase request to Bank payment.

@amandalovestoaudit

2 жыл бұрын

Hi - you do mean accounting journal entries?

Thanks so much for the practical and lecture great work

How do you keep track of every individual order? Is there a way to do it without a dedicated AP software? We have a small team and just use QB for everything.

@amandalovestoaudit

2 жыл бұрын

Small businesses should be fine with QB, Xero etc and their own order tracking. The good thing about all of them is that if you need to expand - you can add on something like Shopify to help manage the process

@TemplarGaming316

2 жыл бұрын

@@amandalovestoaudit We are trying to come up with a better process for predicting AP and cash flow management. That’s how I stumbled on your page. Your videos are fantastic! I started this company 2 years ago and will have twenty employees here next month. Just learning as I go. Your information is helping tremendously as I have zero experience in accounting or auditing.

Hi Amanda, re the blanking out of quantities so that Receiving Dept actually counts them - really appreciate this control but ... I note that the delivery always come with a Delivery Order (document from the supplier’s side) that documents what the consignment is and what quantities it contains. Wouldn’t the REceiving guys just copy accordingly rather than counting? TQ

@amandalovestoaudit

3 жыл бұрын

Hi mkleng! It depends on the company - but often yes, and it definitely is a risk :)

@mkleng

3 жыл бұрын

@@amandalovestoaudit cheers :)

What if the goods are not purchased but are manufactured by its own company? Thanks

Thank you for presentation.

@amandalovestoaudit

3 жыл бұрын

You’re welcome Sokha!

Ur explores is great . If you don't mind can I try reach you ?

👍

Hlo Mam Assalam o alaikum I m you big fan from pakistan from last 2 years i m watching your video this stuff really helpfull for me i also refering your videos and chennal to my friends plese read my msg in your videos and thanks all your Pakistan fans

@amandalovestoaudit

3 жыл бұрын

Hi! I'll be sure to do a big shout out to everyone in Pakistan in my next video :)

Canada = cheques. 😉

Amanda very nice. Thamks for wearing a good lipstick today. I am very happy to see a very beautiful Oriental lady.

Too many ads

@pako3502

3 жыл бұрын

i hate ads

@brigjay123

2 жыл бұрын

Go premium lol

Thanks, Amanda. Your video is very helpful.