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Timing of posting expenses in the GL
August 30, 2023
Q. I'm curious about the timing of when you post expenses to the General Ledger. Is it before or after Business Owners approve the expense?
A.
(Answered by IOFM Advisory Panel)
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In some cases, detailed invoices are entered and saved as pending in our system awaiting approval from the person responsible for approving the expense. Certain items such as phone bills and our copier leases are on auto-approval with a tolerance.
Other invoices, such as those that are PO-related are forwarded via…
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