Approval

Q. Our company does not have a centralized purchasing department.  We only use purchase orders… Read More

Q. (cont.)  We only use purchase orders for IT-related purchases since we are an IT-related… Read More

Q. (cont.) Does anyone have this process implemented? If so, what are your procedures and

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The AP process demands timely and precise data to drive an accurate fiscal close.  Approvals must be linked to corporate approval policies to reduce risk and

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Q. (cont.) ... and sign off annually for automatic recurring payments that are paid through A/P

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The approver of an invoice who has authority to approve the expense and associated dollar value

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Accounts payable departments can have the best-designed processes in the world, but without ongoing process management, AP cannot function at optimum performance levels. The consequences can be

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Q. (cont.) • What are the thresholds at different levels, by commodity?• What happens when a

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“Invoice approval in our company is governed by an "Approval Level Guidelines" policy that was created by our internal controls department with CFO authorization,” says Kim Cowgar, Sr.

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Writing AP policies from scratch is difficult. Adapting another organization’s policy to suit your needs makes the job much easier. Here are example Policies for Approvals to review and

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