Financial Transaction Approval Checklist ( FINANCE )

This checklist is designed to ensure that all financial transactions are properly approved in accordance with organizational policies. It outlines the necessary steps to verify, document, and authorize each transaction before processing.

• Initiate Transaction Request

  The requester must submit a detailed transaction request form with all relevant information, including the purpose of the transaction and the amount.

• Review Supporting Documentation

  Ensure that all necessary supporting documents, such as invoices, contracts, or receipts, are attached to the transaction request for review.

• Verify Budget Availability

  Check that there are sufficient funds available in the budget to cover the transaction amount before proceeding.

• Obtain Necessary Approvals

  Forward the transaction request along with supporting documents to the designated approver(s) for their review and approval.

• Document Approval

  Once approved, ensure that the approval is documented in the transaction request file for future reference and auditing purposes.

• Process Transaction

  After receiving all necessary approvals, proceed to process the transaction in the financial system.

• Notify Stakeholders

  Inform relevant stakeholders about the completion of the transaction, including any necessary follow-up actions or confirmations.

• File Documentation

  Ensure that all documentation related to the transaction, including the request, approvals, and confirmations, are filed appropriately for record-keeping.