This checklist ensures that all cash disbursements are properly approved before processing payments, preventing unauthorized transactions and ensuring financial integrity.
Ensure that all payment requests are complete and contain necessary documentation such as invoices, contracts, or receipts.
Check that the requested amount aligns with the budget and that funds are available for the expense.
Obtain written approval from the relevant department head or manager before proceeding with the disbursement.
Coordinate with the Accounts Payable department to confirm that the payment request has not been submitted or processed already.
Secure final authorization from a designated financial officer or approver as per company policy.
Once approved, record the transaction in the financial system, ensuring all documentation is attached for audit purposes.