Nivenly regularly needs to pay vendors for goods and services. Nivenly also has a fiduciary obligation to spend our money wisely and in a traceable manner.
Todo
Establish a policy that all payments must:
have an invoice logged in the accounting system with a matching amount
if the amount is > $X USD, then require approval from one board member OTHER than the board member that is requesting the payment
Out of scope/separate issue
Establishing a policy for a "standing purchase order" or "preapproved recurring expenses"
Background
Nivenly regularly needs to pay vendors for goods and services. Nivenly also has a fiduciary obligation to spend our money wisely and in a traceable manner.
Todo
Establish a policy that all payments must:
$XUSD, then require approval from one board member OTHER than the board member that is requesting the paymentOut of scope/separate issue