Cash Reconciliation Checklist ( FINANCE )

This checklist is designed to ensure that all cash transactions are accurately reconciled with bank statements to maintain accurate financial records and identify any discrepancies promptly.

• Gather Bank Statements

  Collect all relevant bank statements for the period being reconciled.

• Compile Cash Transaction Records

  Collect all cash transaction records from the accounting system for the same period.

• Match Transactions

  Compare each cash transaction against the bank statement to ensure they match.

• Identify Discrepancies

  Highlight any discrepancies between the bank statement and cash transaction records for further investigation.

• Investigate Discrepancies

  Review identified discrepancies to determine the cause and make necessary adjustments.

• Confirm Adjustments

  Ensure that all necessary adjustments have been documented and approved.

• Prepare Reconciliation Report

  Create a reconciliation report summarizing matched transactions, discrepancies, and adjustments.

• Review and Approve Report

  Submit the reconciliation report for review and obtain necessary approvals from management.

• File Documentation

  Ensure all documentation related to the cash reconciliation process is properly filed for future reference.

• Schedule Next Reconciliation

  Set a date for the next cash reconciliation to ensure ongoing compliance and accuracy.