This checklist is designed to ensure that all financial transactions are properly approved before processing. It outlines the steps that need to be followed to maintain compliance and accuracy in financial activities.
The requestor must fill out a transaction request form detailing the nature of the transaction and the amount involved.
The requestor must provide all necessary documentation that supports the transaction, such as invoices, contracts, or purchase orders.
The immediate supervisor or department head must review and approve the transaction request before it proceeds.
The approved request is submitted to the finance department for a thorough review to ensure compliance with financial policies.
The finance manager must review the transaction for accuracy and authorize the transaction for processing.
Once all approvals are obtained, the finance team processes the transaction according to company procedures.
The transaction must be accurately recorded in the financial system for tracking and reporting purposes.
All supporting documentation and transaction approvals must be archived for future reference and audit purposes.