Bizmanualz Sample from the Finance Policies and Procedures Manual includes

an example policy, procedure, a list of topics, forms and job descriptions

Finance Policies and Procedures Manual

Use the Bizmanualz Finance Policy, Procedure, and Forms Manual to
fulfill your financial compliance requirements by establishing financial
controls and, at the same time, strengthen and improve your financial
processes for enhanced performance. Whether you are managing your
financial processes or trying to improve your fiscal performance, financial
policies and procedures templates from Bizmanualz make the process
much simpler and easier
US$ 595.00
How to Order:
Online:
www.bizmanualz.com
By Phone: 314-384-4183
866-711-5837
Email: sales@bizmanualz.com

Includes six (6) modules:

1. Introduction and Table of Contents
2. Guide to preparing a well written manual
3. A Sample CFO Manual covering common
requirements and practices
4. 36 Policies and 61 corresponding forms
5. Business Guide: Manage Your Business
from Start to Finish
6. 10 Job Descriptions covering every
position referenced in the Manual
7. Complete Index

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Available immediately
(no shipping required)

Sample Policy from the Finance Policies and Procedures Manual

Treasury Management Section: Merchant Accounts

Document ID
TM1060Samp
le from the
finance
Policies and
Procedures
manual
includes an
example
procedure, a
list of topics,
forms anad
job
descriptions
Revision
0.0
Effective Date:
mm/dd/yyyy

Policy:

Title
MERCHANT ACCOUNTS

Print Date
mm/dd/yyyy

Prepared By
Preparer's Name / Title
Reviewed By
Reviewer's Name / Title
Approved By
Final Approver's Name / Title

Date Prepared
mm/dd/yyyy
Date Reviewed
mm/dd/yyyy
Date Approved
mm/dd/yyyy

The Company shall plan for, monitor, and review its

merchant accounts in order to ensure the greatest

Bizmanualz Sample from the Finance Policies and Procedures Manual includes

an example policy, procedure, a list of topics, forms and job descriptions

value for the service.

Purpose:

To ensure the selection of a merchant account that

meets the Company's need to balance best service
and lowest cost.

Scope:

This procedure applies to the Finance Department.

Responsibili The Chief Financial Officer (CFO) is responsible for

ties:
overseeing the selection of merchant accounts and
for conducting periodic reviews of merchant
accounts.
Definitions:

Merchant Account Service provider that processes

credit card payments for a merchant (business), such
as our Company.
Chargeback Reversal of a credit card transaction;
can be accompanied by penalties and fees to the
merchant.
Discount Rate Fee paid by the merchant as a
percentage of the transaction amount (e.g., 3%).
Fixed Transaction Fee Flat fee paid by a merchant
on every transaction.
Holdback Percentage of transactions paid by the
merchant and held by the merchant account provider
to cover any transaction related dispute. Funds in the
"holdback account" are released to the merchant at a
predetermined time (e.g., after six (6) months).

Procedure:
MERCHANT ACCOUNT PLAN
1.1

The CFO shall periodically (e.g., annually) review the Company's

use of merchant accounts, to ensure that the Company is
receiving the required service level and that fees are
competitive. A small reduction in fees can result in significant
overall savings, especially for high volume and high dollar
amount transactions; however, cost must be balanced with the
level of service. Credit card transactions must be conducted
swiftly and smoothly, and without interruption of service.

1.2

The CFO shall periodically review existing and potential merchant

account providers, considering and comparing attributes such as:

Monthly fixed fees;

Bizmanualz Sample from the Finance Policies and Procedures Manual includes

an example policy, procedure, a list of topics, forms and job descriptions

Discount rates;
Fixed transaction fees;
Charge backs;
Termination fees and contract requirements;
Accuracy and timeliness of the existing merchant account's
processing and reporting; and
Return fees and policies.

1.3

The CFO shall create a total cost estimate for each month or
quarter based on fee information gathered (Section 1.2), using
historical merchant account use and projecting future use.

1.4

The CFO shall create a method for evaluating merchant account

service levels (for example, listing key service areas required by
the Company and rating availability of the service by existing
and potential merchant accounts). Examples of important
service features include:

1.5

Charge[Type text]
[Type text]
[Type text]backs;
Customer service availability (responsiveness, speed of
resolution);
Ease of use;
Reliability; and
Holdback policies.

Based on the review of overall fees and service levels (see

Sections 1.1, 1.2), the CFO shall:

Continue the existing merchant account under the current

terms;
Attempt to renegotiate terms with the existing merchant
account; or
Find and negotiate with an alternate merchant account
provider.

MERCHANT ACCOUNT COMPARISONS

2.1

The CFO shall annually complete the TM1060-1 MERCHANT

ACCOUNT REVIEW with existing and potential merchant account
providers fee information.

2.2

The CFO shall calculate the estimated total fees per period (e.g.,
month, quarter) for existing and potential merchant account
providers and record the estimated total fees on TM1060-1. The
CFO shall consider the following when calculating estimates:

Information about the various merchant account fees;

Historical merchant account use;
Projected future merchant account use;

Bizmanualz Sample from the Finance Policies and Procedures Manual includes

an example policy, procedure, a list of topics, forms and job descriptions

2.3

The CFO shall list and rate important service features of existing
and potential merchant account providers on the TM1060-1
MERCHANT ACCOUNT REVIEW form (see Section 1.4).

MERCHANT ACCOUNT COMPARISON REVIEW

3.1

The CFO shall use the information on the TM1060-1 form to

determine if any action is required in the Companys merchant
account provider (see Section 1.5).

3.2

The CFO shall list reasons and justifications for the decision to
continue, renegotiate, or change merchant accounts on TM10601.

MERCHANT ACCOUNT IMPROVEMENTS

4.1

The CFO shall make changes and adjustments to its merchant

accounts, in accordance with the decision described on TM10601.

4.2

As part of the annual merchant provider review, the CFO shall

(re)evaluate the merchant provider evaluation process, to ensure
its continuing suitability and usefulness. The CFO shall be
responsible for making any recognized improvement to this
procedure and the associated form TM1060-1 to enhance the
merchant account review/selection process.

Effectiveness Criteria:

Lowest merchant account total fees

Effective merchant account service
Merchant account ease of use

References:

CFO Manual, Section 5.3.7 Merchant Accounts

Additional Resources:
A. Carroll, Jim, and Broadhead, Rick, Selling Online: How to Become
a Successful E-Commerce Merchant, Dearborn Trade, a Kaplan
Professional Company, 2001. ISBN-10 #0-7931-4517-1.
B. Ogden, Anthony L., What Every Business Should Know About
Accepting Credit Cards, BankCardLaw Media Corp., June, 2004.
ISBN-10 # 0-9759-6050-4; ISBN-13 # 978-09759-6050-9.
C. Dont Fly By Night: The Inside Information on Merchant
Accounts, available at
http://www.powerhombiz.com/vol39/merchant.htm.
D. Choosing an Internet Merchant Account, available at
http://www.findmyhosting.com/web-resources/Articles/internetmerchant.htm.

Bizmanualz Sample from the Finance Policies and Procedures Manual includes

an example policy, procedure, a list of topics, forms and job descriptions

E. "Merchant Account 'How-To' Tips for Beginners", available at

http://www.goemerchant.com/getting_started.htm.
Forms/Records:

TM1060-1 MERCHANT ACCOUNT REVIEW

Meeting minutes and reports

Revision History:
Revisi
on
0.0

Date

Description of changes

mm/dd/yy
Initial Release
yy

Request
ed By

Bizmanualz Sample from the Finance Policies and Procedures Manual includes

an example policy, procedure, a list of topics, forms and job descriptions

TM1060-1 MERCHANT ACCOUNT REVIEW

1. Merchant Account Fees

Merchant Account
Provider

Comments:

Fixed
Fees

Discount
Rate

Transaction
Fees

Termination
Fees

Misc.
Fees

Estimated Total
Fees (per period)

Bizmanualz Sample from the Finance Policies and Procedures Manual includes

an example policy, procedure, a list of topics, forms and job descriptions

2. Merchant Account Services

Merchant Account Provider

Service
Feature 1

Service
Feature 2

List Specific Service Feature >

Comments:

Decisions, Justifications, and Actions for Merchant Accounts

Approval

Service
Feature 3

Service
Feature 4

Bizmanualz Sample from the Finance Policies and Procedures Manual includes

an example policy, procedure, a list of topics, forms and job descriptions

Finance Policies and Procedures Manual:

40 Prewritten Policies and Procedures

1.
2.
3.
4.
5.
6.
7.

Finance Administration
Financial Objectives
Management Responsibility
Continuity Planning
Document Control
Record Control
Annual Stockholders Meetings
Board of Directors Meetings

Raising Capital
8. Business Plan
9. Capital Plan
10.Valuation
11.Bank Loans
12.Stock Offerings
13.Debt and Investment
14.Asset Acquisition
15.Leasing
Treasury Management
16.Working Capital
17.Cash Management
18.Inventory Management
19.Related Party Transactions
20.Foreign Exchange Management
21.Managing Bank Relationships

Treasury( Management Cont)

22.Merchant Accounts
23.Letters of Credit
Financial Statements
24.Financial Forecasting
25.Financial Reporting
26.Financial Statement Analysis
27.Financial Management Review
28.Financial Restatements
29.Financial Information Release
Internal Controls
30.Sarbanes-Oxley Compliance
31.SSAE-16 Compliance
32.Risk Assessment
33.Risk Management
34.External Auditing
35.Internal Auditing
36.Corrective Action

Job Descriptions: A complete job description is included for each of the 10

positions referenced in the Finance Polices and Procedure Manual. Each position
includes a summary description of the position, essential duties and
responsibilities, organizational relationships, a list of the procedures where the
position is referenced, specific qualifications, physical demands of the position,
and work environment.
Board Member
Chief Executive Officer
(CEO)
Chief Financial Officer
(CFO)
Controller

Document Manager
External Auditor
(Independent Auditor)
Financial Manager

Internal Audit Team

Leader
Internal AuditorAccounting
Risk Manager

Bizmanualz Sample from the Finance Policies and Procedures Manual includes

an example policy, procedure, a list of topics, forms and job descriptions

61 Corresponding Forms and Records

Finance Administration
1. Financial Objectives
2. Sample Management Review
Agenda
3. Continuity Plan Worksheet
4. Document Request
1. Document Control Database
2. Sample Master File Guide Index
3. List of Finance Records
4. Record Retention Guidelines
5. Notice of Shareholders Meeting
6. Authorization of Proxy to Vote
Shares
7. Minutes of Shareholders Meetings
8. Minutes of Board of Directors
Meetings (example)
Raising Capital
9. Business Plan
10.Capital Analysis
11.Capital Plan Worksheet
12.Capital Plan
13.Valuation Plan
14.Valuation Improvement Plan
15.Valuation History
16.Loan Application Checklist
17.Stock Offering Plan
18.Debt and Investment Plan
19.Debt and Investment Action Log
20.Asset Acquisition Criteria
21.Asses Acquisition
Request/Worksheet
22.Lease/Buy Financial Analysis
Treasury Management
23.Working Capital Plan
24.Cash Management Plan
25.Inventory Management Plan
26.Inventory Management Results
27.Related Party Transaction Policy &
Conflict of Interest Questionnaire

28.Related Party Transaction

Questionnaire Log
29.Foreign Exchange Management Plan
30.Foreign Exchange Results
31.Banking Relationship Contact
Management Log
32.Banking Relationship Meeting
Agenda/Minutes
33.Merchant Account Review
34.Letter of Credit Checklist
Financial Statements
35.Financial Forecasting Checklist
36.Financial Report Checklist
37.CEO/CFO Certification Checklist
38.Financial Analysis Plan
39.Financial Management Plan
40.Financial Management Meeting
Agenda
41.Financial Restatement Checklist
42.Financial Information Request
43.Financial Information Releaset Log
Internal Controls
44.Sarbanes-Oxley Compliance
Checklist
45.SSAE-16 Compliance Checklist
46.Risk Assessment/Management
Worksheet
47.Sample Chart of Accounts
48.Internal Control Checklist
49.Corrective Action Plan
50.Audit Schedule
51.Audit Plan
52.Audit Checklist
53.Audit Opinion
54.Audit Report
55.Nonconformity Report
56.Corrective Action Request
57.Corrective Action Log