Operational Expense Review Checklist ( FINANCE )

This checklist is designed to systematically review operational expenses to ensure accuracy, compliance, and effective management of financial resources. It serves as a guide for finance teams to verify and analyze the operational expenses incurred over a specified period.

• Gather All Operational Expense Reports

  Collect all reports related to operational expenses for the specified period. This includes invoices, receipts, and any related documentation necessary for review.

• Verify Expense Accuracy

  Cross-check each expense entry against original documentation to ensure that all charges are accurate and valid.

• Categorize Expenses

  Organize the expenses into predefined categories for better analysis, such as utilities, office supplies, and maintenance costs.

• Check for Policy Compliance

  Ensure that all expenses adhere to the company's financial policies and procedures to avoid any discrepancies.

• Identify Areas of Overspending

  Analyze the categorized expenses to identify any areas where spending exceeds the budget or historical averages.

• Report Findings

  Compile a report summarizing the review findings, highlighting discrepancies, overspend areas, and recommendations for cost-saving measures.

• Review and Approve Adjustments

  Present the findings to management for review and approval of any necessary adjustments to operational expenses.

• Document the Review Process

  Ensure that all steps taken during the review process are documented, including any communications with team members and management.