Company (Procured) Supplies Statement: |
1. Company Procured Supplies is a management report that consolidates supplier invoices for procured supplies of materials, equipment and labour from suppliers. |
2. Suppliers have strict payment dates that must be formally managed to ensure that credit ratings remain good. |
3. The procurement of supplies is a cost to the company that is likely to be passed on to a named project with a markup. |
4. Cash accounting scheme means that procured supplies are only part of the annual return when the supplier has been paid. |
5. A Key Performance Indicator (KPI) is the amount owed and not yet paid to suppliers for procured supplies. |