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Approval Sheet

A approval sheet is a document required before a business transaction is initiated. It is generally used when a company wants to have the approval of two or more parties for a business transaction. The sheet is signed or stamped by the authorized personnel before the transaction is officially finalized or executed.

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An approval sheet is also known by many other names like approval form, approval request form, approval authority, approval report, and so on. The sheet contains all the important details about the transaction such as; the company name, purpose of the transaction, proposed amount, date of transaction, signatures of the authorized personnel, etc. The purpose of having an approval sheet is to ensure that the transaction is being done in an authorized and verified manner.

Generally, the approval sheet is signed and approved by the concerned authorities once their internal procedures and policies are completed. The sheet is then sent to the respective department or person responsible for the transaction. This person is responsible for the ultimate execution of the transaction. Once the sheet is checked and the transaction is verified and verified by the concerned authority, it is then sent to the next level of the process which is usually the financial department.

Once the financial department approves the transaction, the transaction is acted upon and the funds are either transferred or exchanged according to the terms of the transaction. This process is usually very complex and is governed by strict rules and regulations. Therefore, an approval sheet is very important in any business transaction.

In conclusion, an approval sheet is an important document required for any business transaction. It helps to ensure that the transaction is valid and verifiable before it is executed. It also serves as a legal proof that the transaction has been agreed upon and is not void or illegitimate. Moreover, it helps to maintain transparency and control in business transactions.