Procurement at the end of year

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CPSM
IT procurement
Is it acceptable to pay a vendor this year for materials that will not be receipts until next year. This is for capital projects not the operations section of a company. We are wanting to spend the capital budgeted dollar's for projects that were delayed this year due to operations not getting their work completed timely. Our Board of Directors may not allow these capital dollars to be pushed into next year if we do not show at least partial payments before December 31st. Thank you for your help. If you could site your information it would be very helpful.
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  • Subhendu Sen
    From this side not possible to provide a good opinion. Every company has its norms / regulations. Now what contacts made in between these two companies and according to this you can take legal actions.
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  • ToddN2000
    It all comes down to your company policy and budget. Sometimes to get tax breaks and other benefits a large purchase may be placed and the delivery date pushed off until the next fiscal period. Say you need to furnish a new mfg facility and you need to purchase the equipment to run it. This way all expenses like construction and furnishing are against the same fiscal period.
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