Problem 1: Requisition Request for Disinfecting Materials
My relative is the Treasurer of the Condominium Board of Trustees, and has asked me to double check the replenishment report of the administrative secretary.
The administrative secretary asked for Php 30,339.50 to replenish some disinfecting supplies for the condominium. Here was her request:
Let me give you a few minutes to look through the list.
What do you think of her request? Kindly note that the list looks normal and contains all the materials required by the government for a condo building to have.
If you were the Treasurer, what would you do? Would you write a check for Php 30,339.50? Please scroll down below for my reply when you are done.
My Answer to Problem 1: Requisition Request for Disinfecting Materials
After I looked through the list, here were my comments:
In particular, these were the ones that stood out from me. Based on my own research, these are the market prices of the following items:
For the PPE Suite, I would source it online or from this group. I bought our Tafetta PPE for Php 370.00 from an online seller named Liz. We are a small business so we do not need the hospital grade PPE. We only need two in case we have a suspected case in the office.
For surgical masks, I know people who are selling at Php 650. However, some people are selling at Php 350 to Php 500 a box.
Maybe the Php 2,300 for a box of 3-ply surgical mask is most likely a typo. But if you’re requesting for money, always double check and triple check before you submit to the Members of the Board.
As for the pressure sprayer, I can get from Lazada, while the handwash and alcohol can be sourced at 3.5 Liters in NUDE Essentials.
Problem 2: The Association Dues Bill
Take a look at the Association Dues Bill that we received last year — At 88.47 + 12.5 sqm parking area = 100.96 sqm, with a rate of Php 108.33/sqm, the total is Php 17,950.26. Multiply the amount by Php 17,950.26 x 3 months, the total association dues now cost Php 53,850.64. Make sense?
Here’s the breakdown:
After checking the numbers, will you ask your finance manager to issue the check by the due date? Is this a go?
Have a think. Please scroll down below for my reply when you are done.
My Answer to Problem 2: The Association Dues Bill
Please take out your calculator and punch the numbers on the bill.
Here’s my computation:
A word of warning — it does NOT mean that a bill is computerized, it is correct. As you can see, the billing was incorrect.
All the numbers are in order and printed well, but the computation is wrong. Anyone who has a calculator can compute the correct answer. However, most finance managers just look at the bill and issue a check, not knowing that they are paying Php 21,036.60 more per quarter or Php 7,012.20 per month.
Always Instill a Habit of Double Checking and Triple Checking Work
If you are running a business, always instill a habit in your people of double- and triple-checking the work. When my staff gave me the bills to pay, I used the above mentioned example as a learning exercise, which is why, they always double check the amounts before they submit it to me for reimbursal.
The numbers may be big or small, but when you’re running a business, every little bit counts. Always double check the details, so you won’t have to lose money unnecessarily without you knowing it.