Free Financial Procedure Outline Template
Financial Procedure Outline
Prepared by: [Your Name]
I. Purchasing and Procurement
A. Guidelines for Requesting and Approving Purchases
1. Document all requests in writing
2. Secure necessary approvals prior to purchase
3. Conform to budget constraints
4. Confirm receipt of goods or services
B. Vendor Selection Criteria and Procurement Processes
1. Vendor selection based on quality, reliability, and cost
2. Use of competitive bidding where possible
3. Periodic evaluation of vendor performance
4. Standardized procedures for all procurement activities
II. Expense Reimbursement
A. Procedures for Submitting and Approving Expense Reports
1. Use of standard forms for expense reports
2. Timeliness in submitting reports
3. Approval required before reimbursement
4. Review of expenses for compliance with policies
B. Documentation Requirements for Reimbursement
1. Receipts required for all expenses
2. Each expense should be itemized on the report
3. Explanation necessary for unusual expenses
4. Review of documentation for completeness and validity
III. Invoicing and Billing
A. Steps for Creating and Sending Invoices
1. Accurate and timely creation of invoices
2. Standardized format for all invoices
3. Use of digital tools for invoice creation and delivery
4. Record keeping of all invoices sent
B. Billing and Collection Procedures
1. Regular sending of bills on due dates
2. Clear and straightforward presentation of due amounts
3. Follow-up procedures for unpaid bills
4. Conformity with legal requirements on billing and collection
