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Commitments register example
The following template has been developed by Mango based on our field experience. It is part of Mango's Accounting Pack, which also includes guidelines for how it should be used.
Use it to create your own, suitable for your own purposes
Download the commitments register here.
Using a commitments register
If you record expenses as you actually pay for them (ie on a cash basis) it is also useful to know what payments you are committed to making, even if they aven't been paid for yet. For example, goods or services you have received but not been invoiced for, unpaid bills, orders placed, contracts signed.
When reading your budget monitoring reports and cash or bank balances, take these commitments into consideration as well, or you may get an incomplete picture.