Financial Transaction Approval Checklist ( FINANCE )

This checklist is designed to ensure that all financial transactions are approved according to company policy before they are processed. It helps in maintaining accountability and preventing unauthorized expenditures.

• Identify Transaction Type

  Determine the nature of the transaction (e.g., purchase, payment, reimbursement) that requires approval.

• Verify Required Documentation

  Ensure all necessary documentation (invoices, receipts, contracts) are attached to the transaction request.

• Check Budget Availability

  Confirm that the transaction does not exceed the allocated budget for the specific category.

• Obtain Initial Approval

  Get the initial approval from the immediate supervisor or department head responsible for the budget.

• Review by Finance Team

  Send the transaction for review to the finance team for compliance with financial policies.

• Final Approval

  Obtain final approval from a designated financial officer or manager before processing the transaction.

• Record Transaction

  Once approved, record the transaction in the financial management system for tracking and reporting.

• Notify Relevant Parties

  Inform all relevant parties (e.g., accounting, procurement) about the approved transaction for further processing.