Accounts Payable and Accrued Expenses Policy
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Accounts Payable Framework Internal Controls
This policy sample establishes guidelines organizations should follow when recording and issuing accounts payable transactions.
According to this sample, all expenses should be captured to the greatest degree possible in the period that they are incurred. Proper internal controls should be in place to ensure that only valid and authorized payables are recorded and paid. In addition, all invoices will be reviewed to ensure that purchase orders are properly authorized and that quantities shown shipped or delivered on the invoice are the same as those found on the packing slip and/or receiving report.