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Posted By JamesA1 on 02/15/2019 1:47 PM
We are debating the differences between policy and procedure.
Does anyone have a good on-line reference on what a policy should contain.
Thank you
That's a good question. There's often a slim distinction, if any. We've been slowly updating our 90-page binder of "Rules & Regulations" and there's a lot of redundancy, meaning the procedure just echoes the policy. I think we're going to overhaul our procedures and have one simple blanket policy: "Our policy is to follow these procedures." The more we look at it the more it appears that outside of our procedures there's not a lot of policy to worry about. A Late Payment and/or Collections Policy is one that stands out as necessary.