Expenditure Cycle Flowchart

An expenditure cycle is a process used by organizations to manage cash outflows by planning, recording, and tracking payments made. It involves identifying and authorizing expenses, generating checks or electronic payments to vendors, receiving vendor invoices and reconciling payments. It also requires tracking expenses to ensure sufficient funds for the payment and ensuring that payments are in compliance with applicable laws. Finally, the expenditure cycle helps ensure proper accounting and reporting of all costs incurred by the organization.

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