According to Greater Washington Society of CPAs – Educational Foundation, creating a policy is like making a decision when you have time to be thoughtful, to do adequate research, and to consult colleagues and other professionals rather than making decisions in haste as circumstances arise. Creating thoughtful policies is a fundamental risk management strategy and a hallmark of good stewardship.
The right policy helps you to manage your operation and finance effectively. There are many cloud based software available to manage your finances. Datamoto provides an effective way of budgeting your expenses by department or projects; puts a proper approval for purchase orders and also supports multi-currencies.