Daily Financial Reconciliation Checklist ( OPERATIONS )

This checklist is designed to ensure that all daily financial transactions are reviewed and reconciled, maintaining accuracy in financial reporting and preventing discrepancies.

• Gather Daily Sales Reports

  Collect all sales reports from the previous day from all sources including cash registers and online sales platforms.

• Verify Cash and Card Transactions

  Check the cash on hand against the reported cash sales and verify credit/debit card transactions against bank statements.

• Reconcile Inventory Sales

  Match the sales reports with inventory changes to ensure that the inventory sold corresponds with reported sales.

• Review Expense Receipts

  Collect and review all expense receipts incurred during the day to ensure all are accounted for.

• Check Accounts Receivable

  Verify any outstanding invoices and payments that were due to ensure they have been recorded properly.

• Prepare Daily Financial Summary

  Compile a summary of all transactions including total sales, expenses, and net profit for the day.

• Submit Financial Report

  Send the daily financial report to management for review and keep a copy for record-keeping.