Financial

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Accounts Payable

Purpose: To purchase and track all spending that is a “reasonable and necessary” business expense. All purchases must be approved in writing by the project manager and receipts uploaded immediately using the form below.

Purchases

  • Select the right item (correct specs, size, brand) and the best total cost option (discounts, price, quality, labor impact, return policy).

  • Make the purchase under the company account. The purchase must be “reasonable and necessary.”

  • Fill out the receipt form immediately.

    • Job PO - The address + description (i.e. 123 Main - Window). If not for a job, then just describe what was purchased.

    • Vendor: The name of the vendor where the item was purchased.

    • Amount: The dollar amount that was spent on the item.

    • Description: A description of the item purchased and any notes (i.e. check #’s, etc)

    • Transaction Type: The type of transaction - credit/debit card, mobile payments, check, cash, EFT, etc)

    • Account Name: The account that was used - a personal account, business credit card, an account credit line, etc.

    • Receipt upload: An upload of the receipt or proof of transaction.

Returns

  • Make the return back to the original card.

  • Fill out the receipt form immediately.

    • Job PO - The address + description (i.e. 123 Main - Window). If not for a job, then just describe what was purchased.

    • Vendor: The name of the vendor where the item was purchased.

    • Amount: The dollar amount that was spent on the item.

    • Description: A description of the item purchased and any notes (i.e. check #’s, etc)

    • Transaction Type: The type of transaction - credit/debit card, mobile payments, check, cash, EFT, etc)

    • Account Name: The account that was used - a personal account, business credit card, an account credit line, etc.

    • Receipt upload: An upload of the receipt or proof of transaction.

Reimbursements

  • Review the purchase and match it to the receipt

  • Approve the purchase. Is it reasonable and necessary?

  • Reimburse the individual, using Zelle, and mark the date of the reimbursement in the Expense Form.