Finance

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Accounts Payable

Purpose: To purchase and track all spending that is a “reasonable and necessary” business expense. All purchase receipts must be uploaded immediately after purchase 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.

  • 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: Describe if its a purchase, return or transfer.

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

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

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