Keeping a transparent and mutually beneficial relationship with your suppliers is essential. Use this template to capture your policies and procedures for paying suppliers.
An approval document signed by the [Accounting Manager] is required before supplier accounts for electronic payments can be set up.
No additional authorization is needed for a supplier invoice within [5%] of the price stated in the purchase order.
The [approver's job title] will need to countersign all fund transfers larger than [USD amount here].
The [reviewer's job title] will review the credit of all customers whose order exceeds [USD amount here].
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