Hold On to Those Pheasant Receipts

At MacFarlane Pheasants, we know where our money is going. We know this because we’re watching how we spend, and the best way to do this is keep an eye on the monthly credit card bill. Just like you might do with your own finances, by reconciling the bill at the end of each and every month, we’re able to monitor spending habits and make better decisions going forward.

The first thing we did to make sure we were spending both our time and our money in the best way was to put together some ground rules. For farm purchases of $50 or less, all the employee needs to do is submit a receipt. But for purchases greater than $50—with the exception of fuel—a purchase order must be submitted. A purchase order lets me examine those high dollar purchases to make sure we’ve checked out every angle.

For some of those purchase orders, I’ll actually set up a meeting with the employee to discuss the order. This can be great to make sure we’ve done our research for the best possible price and conditions through a few different vendors. It’s also a great time to ask why we need this.

Finally, I’d recommend deputizing a staff member to go after missing receipts. Our employee Pam Wallisch handles going after missing receipts. It’s an important job, but something that I don’t have time to do personally. Knowing she’s able to get the job done takes the stress off me.

Once all the receipts and purchase orders are in for the month, we’ll review and look for spending patterns. Finally, I’ll sign off and we’ll pay the bill. This part of my job isn’t the most fun, but at a pheasant farm the size of MacFarlane Pheasants’, it’s essential. More dollars saved in-house means more savings passed on to our customers.

 
Hold On to Those Pheasant Receipts
 

 

 

Hold On to Those Pheasant Receipts

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