Company Policies and Procedures

Why should you consider implementing company policies and procedures?

When it comes to Control, Safeguarding of a Company’s fixed assets & inventory and cash segregation of duties within the company; the answer must be financial policies and procedures

Financial policies and procedures play and integral part to ensure your business runs smoothly. “Governmental entities are no exception”.

Financial policies and procedures help ensure proper management, control over company's cash, inventory, and fixed assets within every department within the organisation.

In a nutshell, policies set appropriate guidance to every transaction and cover all checks and balances required to avoid theft and misuse.

It is generally recommended that companies have written financial policies and procedures in place. Not only is this a regulatory requirement, it provides a guide to management on issues such as cash receipt and its application, inventory recording procedures, accounts payable and receivable, investment policies, privacy legislation, fraud prevention and internal auditing.

What is business policy and procedure services?

The success in implementing financial policies and procedures to help provide efficient financial management, risk mitigation, and alignment of financial operations as an overall mission of the organization, a set of processes, actions, and documents need to be created along with an management authority’s matrix.

Example of an organisation needs

Accounts Payable

•Purchasing, procurements regulation, work flow & official documents

•Fixed Assets Addition regulation, work flow, approval and official documents includes control cycle, insurance

•Fixed Assets disposal, selling process, approval & Control

•Purchasing related Inventory cycle, transaction, regulation, documentation & approvals

•Stationery & Printing purchasing, transaction, regulation, documentation & approvals

Sales & revenue, invoicing, revenue recognition etc.

Cash & Cash equivalent

Talk to us for more information - info@fintechinnovation.io