I.
Cash Disbursements & Expense
Allocations
Cash disbursements are generally made for:
1.
Payments to vendors for
goods and services
2.
Taxes/license fees
3.
Staff training and
development
4.
Memberships and
subscriptions
5.
Meeting expenses
6.
Employee reimbursements
7.
Marketing/promotional
materials
Checks are processed weekly. Invoices submitted to the Owner/President by Wednesday will be processed and paid by Friday of the same week. Checks can be prepared manually within one day, but this should be limited to emergency situations.
Requests for cash disbursements are submitted to Accounting in three ways:
1.
Original invoice
2.
Purchase request
(submitted on approved form)
3. Employee expense report or reimbursement request
All invoices must have the account code written on them and approved by the Owner/President prior to being submitted to accounting.
Every employee reimbursement or purchase request must be documented on the approved form with travel authorization, receipts, nature of business, program allocation, and funding source (if applicable) before approving for reimbursement as follows:
Lodging - an itemized receipt from the hotel detailing all charges, the person(s) for whom the lodging was provided, and the specific business purpose.
Meals and Entertainment - a receipt must be provided showing the cost of food, beverage, and gratuities, including the names of every person for whom food or beverage was provided, and the specific business purpose.
Other Expenditures - a receipt from the vendor detailing all goods or services purchased (including the class of service for transportation) and the specific business purpose.
The Owner/President reviews all requests for payment and:
1.
Verifies expenditure and
amount
2.
Approves for payment if
in accordance with budget
3.
Provides or verifies
appropriate allocation information
4.
Provides date of payment
taking into account cash flow projections
5. Submits to the Bookkeeper for processing
The Bookkeeper processes all payments and:
1.
Immediately enters them
into the Accounts Payable module
2.
Prints checks according
to allocation and payment date provided by the Owner/President
3.
Submits checks, with
attached backup documentation, to Owner/President for approval and signature.
4.
Stamps invoice “paid”
5.
Mails checks and
appropriate backup documentation
6.
Files all backup
documentation in the appropriate file
7.
Runs an accounts payable
aging at the middle and end of each month and submits to the Operations Manager
to assure timely payment of all invoices
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