Daily Financial Reconciliation Checklist ( OPERATIONS )

This checklist is designed to ensure that daily financial transactions are accurately reconciled with the accounting system, helping to maintain financial integrity and accuracy in reporting.

• Gather Daily Transaction Reports

  Collect all transaction reports from various departments including sales, purchases, and any other financial activities for the day.

• Verify Cash and Bank Deposits

  Cross-check cash collected against sales reports and ensure that all deposits made to the bank match the recorded amounts.

• Reconcile Credit Card Transactions

  Match credit card transactions with the corresponding sales entries to ensure accuracy and identify any discrepancies.

• Review Expense Reports

  Examine all submitted expense reports to ensure they are valid and supported by the appropriate documentation.

• Adjust for Any Errors

  Make necessary adjustments for any discrepancies found during reconciliation, ensuring all records are accurate and up to date.

• Compile Reconciliation Summary

  Prepare a summary of the day's financial activities, highlighting any discrepancies and adjustments made during the reconciliation process.

• Submit for Approval

  Send the reconciliation summary to the finance manager or designated authority for review and approval.