As it happens, not always your suppliers issue their invoices in time, sometimes invoices get lost in mail and so on. If you have more than just one person making expenses, i.e. buying materials etc., it may happen that the invoices just lay in the back of their drawers somewhere and are at some point forgotten. 

So how would you know of an expense occurring for your company if there’s no invoice? There are various tools one can implement and use for ensuring that you know in due time of the expenses yet to come.

One and the most obvious one is to keep track on all purchases by asking people buying goods or services for your company to list them into one specified location, whether on paper or electronically – depending on your form of accounting, depending on the situation and the most suitable solution in response to it. Important thing is to ensure that everyone is “on the same page” with listing their purchases (that is they understand the importance of it) and also ensuring that the purchases are marked somehow to indicate that an invoice has been obtained for this specific purchase.

Your regular expenses are those that arise after a certain period, or you sign an agreement and you can expect to being invoiced according to the terms even if you still don’t have the invoice itself. Doesn’t mean you have to pay up before you get one, but accruing for the amount into expenses and as an accrued liability is essential in keeping your results most accurate. So keeping sort of a list of such expenses is also another measure in helping you to ensure you’ve got all your expenses you know of accounted for.