Vendor onboarding and due-diligence policy
Create a vendor only after verifying identity, contact information, category, ownership information where required, tax details, and payment instructions through approved channels. Check for duplicate vendor records and conflicts of interest. Sensitive bank-detail changes require independent verification. Maintain evidence of onboarding review and restrict vendor-master changes to authorized users.
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Vendor conflict-of-interest policy
Employees and approvers must disclose personal, financial, family, or business relationships that could influence vendor selection or management. A conflicted person must not evaluate, approve, or release payment for the affected transaction unless a ...
How to make a vendor advance payment
Use Create Advance Payment when the organisation needs to pay a vendor before there is a supplier bill to select. This is different from a bill payment and must later be applied or reconciled according to your accounting process. Who can do this ...
Procurement competition and quotation policy
Purchases should follow the organization’s quotation and competition thresholds. RFQs must describe the same scope to each invited vendor and allow a reasonable response period. Evaluation must consider price, quality, delivery, capacity, risk, and ...
Business expense policy
Business expenses must be necessary, reasonable, properly authorized, and supported by evidence. Personal, duplicate, fictitious, or inadequately explained expenses are prohibited. Users must select accurate categories, dates, amounts, currencies, ...
Business expense policy
Business expenses must be necessary, reasonable, authorized, and supported. Personal, duplicate, fictitious, or inadequately explained expenses are prohibited. Users must enter accurate dates, amounts, currencies, categories, projects, and budgets. ...