Objective:
Ensure all expenses are approved and recorded before month-end closing.
Steps:
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Department heads submit expense reports by the 25th of every month.
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Finance verifies invoices, receipts, and budget allocations.
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CFO reviews and approves expenses above $5,000.
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Payments are processed by 28th of the month.
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Final report submitted to management for review.
Review Frequency: Annually.