Purchasing Inventory Internal Control Forms

VITALICS PURCHASING INVENTORY INTERNAL CONTROL FORMS

Purchasing controls over inventory and expenses are a critical part of operating any organization. Using specific control forms will lower your fraud risks on unauthorized purchases and inventory theft allowing your business to maintain a positive cash flow.  Download your easy to customize Vitalics purchasing inventory internal control forms today.

PURCHASING AND INVENTORY INTERNAL CONTROL FORMS


Vitalics Purchasing Inventory Internal Control Forms

Includes 10 Vitalics Purchasing and Inventory Internal Control Forms
Easy to customize in Word, Excel and Adobe
Complete List of Forms

Electronic Download     $19.00


Vitalics Internal Control Forms Bundle

Includes Over 145 Control Forms
Eleven Internal Control Categories
Vitalics Fraud Prevention and Internal Control Workbook

Easy to customize in Word, Excel and Adobe
Complete List of Forms

Electronic Download   $169.00

 



WHAT IS VITALICS

Vitalics is a small business internal control program that provides all the tools to easily set up and implement your company’s controls.  Vitalics contains over 140 already created yet customizable internal control forms, checklists and templates and a fraud prevention and internal control workbook.  Vitalics forms are also available separately.   Whether you are a business owner, office manager, bookkeeper or accountant, Vitalics will provide you the reassurance that your work or your company assets are protected.



DID YOU KNOW ?

A skimming scheme is one of the most difficult schemes to prove because the money leaves the victim organization before it is recorded on the books. There is usually a manipulated sales receipt or customer invoice or an adjustment to inventory in order to force this scheme to balance to the books. Purchasing and inventory controls will reduce the fraud risks within your organization.

COMMON PURCHASING FRAUD SCHEMES

Types of Schemes in Purchasing

A conflict of interest is when employees, managers or executives put their personal interest above the company’s interest usually resulting in an adverse affect on the victim organization.

The most common inventory fraud scheme is that in which an employee is stealing inventory for their own personal use or gain. With weak inventory and purchasing controls, employees can manipulate the records to force inventory counts while they are removing inventory from the victim organization. It is also common for those employees to re-sell those items on Ebay and Craigslist.

A bid rigging scheme is a collusive fraud where an employee helps a vendor illegally obtain a contract that was supposed to involve competitive bidding. Although this happens frequently in construction it is also common for materials in manufacturing or retail as well.

Kickback Fraud is perpetrated by an employee and the employee’s vendor or customer. It usually involves the employee buying goods or services at an overstated price then personally receiving the difference.

PURCHASING CONTROL PROCEDURES
Helpful suggestions

Purchaser Approval Forms
When an employee has authority in the purchasing department it is important that the owner or manager review and approve the orders as well. Verifying changes in cost and quality of goods will protect the organization from purchasing schemes.

Physical Inventory Counts
Have another person verify a physical inventory count even if it is an owner. It is crucial in preventing inflated counts. All physical inventory counts must be signed and dated by the employee who conducted the count and then signed and dated by the person approving the count.

Set Guildelines on Vendor Relationships
If you have employees that seem to be unusually close with vendors this could be a sign of a fraud scheme in the making. Set company policies as to what is acceptable for your employees and their interaction with vendors and even customers.

Set Purchasing Limits
It is a good idea to set a specific limit for anyone with the authority to purchase goods or hire service contractors within your organization. Anything over a specific dollar amount should require additional approval from an owner, director, officer or qualified manager.

Purchasing & Inventory Internal Control Forms

  • Purchasing and Inventory Internal Control Forms

      Disposition of inventory form

      Inventory access by personnel form

      Inventory checklist

      Inventory reconciliation form

      Inventory transfer of location form

      Inventory valuation listing

      Lost or stolen inventory form

      Physical inventory count form

      Purchase order checklist

      Purchase order reconciliation form

  • Vitalics Internal Control Forms Bundle List

  • Internal Control Reports

    Company Organizational Chart

    Internal Control Program Detailed

    Internal Control Program Basic

    Risk Assessment Form

      The Vitalics Fraud Prevention and Internal Control Workbook

    Notes Memos and Corporate Forms

    Accounting Work in Progress Form

      Memorandum

    Minutes of the Meeting Log Sheet

    Minutes of the Meeting Template

    Accounts Payable Internal Control Forms List

      Accounts Payable Check Run Form

      Accounts Payable Checklist 12 Month

      Accounts Payable Checklist

      Accounts Payable Reconciliation Form

      Accounts Payable Month End Checklist

      Accounts Payable Month End Checklist 12 Month

      Approved Vendor List Form

    Authorized Signature Stamp Approval Form

      Automatic Payment Update Form

      Automatic Payment Form

      Automatic Payment List

      Change in Vendor Form

      Check Request Form

      Credit Card Reconciliation Checklist 12 Month

      Credit Card Reconciliation Checklist

      Current Vendor Review Checklist 12 Month

      Current Vendor Review Checklist

    Current Vendor Detail Listing

      Employee Credit Card Request Form

      Expense Reimbursement Checklist 12 Month

      Expense Reimbursement Checklist

      Expense Reimbursement Form

    Expense Reimbursement Listing

    Manual Check Listing

      Manual Check Payment Checklist

      Manual Check Payment Checklist 12 Month

      Missing Receipt Form

      New Vendor Checklist 12 Month

      New Vendor Checklist

    New Vendor Detailed Listing

      New Vendor Request Form

    Petty Cash Request Voucher

    Petty Cash Receipt

      Receipt of Vendor Refund

      Rejection of Vendor Invoice

    Royalty Payment Request Form

      Vendor Application

    Vendor Blacklist Form

      Vendor Over Payment Notice

      Wire Transfer Request Form

    Financial Reporting Internal Control Forms

    Authorization to Condense Computer Data Form

    Bank Reconciliation Checklist

    Bank Reconciliation Checklist 12 month

    Cash Flow Reconciliation Form

    Journal Entry Checklist 12 Month

    Journal Entry Form

    Month End Checklist

    Owner Checklist

    Profit and Loss Horizontal Analysis

    Password File

    Ratio Analysis Template

    Year End Checklist

    Sales Tax Bad Debt Summary Form

    Year end W9 1099 List

    Human Resources and Payroll Internal Control Forms

    Authorization for Background and Credit Check

    Change in Employee Payroll Information Form

    Conflict of Interest Policy

    Employee Advance Request Form

    Employee Compensation Form

    Employee Handbook

    Employee Roster Template

    Employee Time Sheet

    Employment Application

    Employment Contract Template

    Fraud Policy

    Human Resource Checklist

    Human Resource Checklist 12 Month

    Job Description Form

    Mileage log Reimbursement Form

    New Hire Form

    Payroll Checklist

    Payroll Checklist 12 Month

    Payroll Disbursement Form

    Payroll Reconciliation Form

    Payroll month End Reconciliation Form

    Probationary Period Agreement Template

    Termination of Employment Form

      Travel Per Diem Request

      Travel Per Diem Schedule

      Workers Comp Audit Journal

    Cash Banking and Assets Internal Control Forms

    Asset Reconciliation Form

    Disposition of Fixed Asset Form

    Fixed Asset Checklist

    Fixed Asset Checklist 12 Month

    Fixed Asset Listing Form

    Fixed Asset Payment Request Form

    Fixed Asset Purchase Form

    Fixed Asset Transfer of Location Form

    Lost or Stolen Asset Form

    Sale of Fixed Asset Form

    Bank Deposit Checklist

    Bank Reconciliation Approval Form

    Bank Reconciliation Template Form

    Uncleared Check List

    Uncleared Deposit List

    Cash Drawer Reconciliation Form

    Cash Sales Checklist

    Credit Card Reconciliation Approval Form

    Petty Cash Checklist 12 Month

    Petty Cash Journal

    Petty Cash Reconciliation Form

    Wire Transfer Request Form

    Accounts Receivable Internal Control Forms

      Accounts Receivable Internal Control Forms

    Accounts Receivable Checklist

    Accounts Receivable Checklist 12 month

    Accounts Receivable Deposit Form

    Accounts Receivable Reconciliation Form

    Accounts Receivable Credit Card Payment Deposit Form

    Bad Debt Request Form

    Change in Customer Information Form

    Credit Card Payment Authorization Form

    Current Customer Review Checklist 12 Month Form

    Current Customer Review Checklist

    Current Customer Detail Listing

    Customer Credit Review

    Customer Outside Collections Forms

    Customer Credit Application

    Customer Blacklist Form

    Customer Collection List Form

    Customer Lost Payment Form

    Daily Cash Receipts Form

    New Customer Checklist Form

    New Customer Checklist 12 Month

    New Customer Form

    New Customer Detail Listing

    Personal Guarantee Template

    Returned Customer Payment Form

    Sales Commission Request Form

    Sales Tax Bad Debt Summary

    Weekly Sales Form

    Purchasing and Inventory Internal Control Forms

    Disposition of Inventory Form

    Inventory Access by Personnel Form

    Inventory Checklist

    Inventory Reconciliation Form

    Inventory Transfer of Location Form

    Inventory Valuation Listing

    Lost or Stolen Inventory Form

    Physical Inventory Count Form

    Purchase Order Checklist

    Purchase Order Reconciliation Form