Daily Financial Transactions Review ( OPERATIONS )

This checklist is designed to ensure that all financial transactions occurring daily are reviewed for accuracy, completeness, and compliance with company policies. It helps in maintaining financial integrity and identifying discrepancies promptly.

• Collect Daily Transaction Reports

  Gather all transaction reports generated for the day from the accounting software and related sources.

• Verify Transaction Accuracy

  Cross-check the transaction amounts and details against source documents like receipts and invoices to ensure accuracy.

• Check for Duplicate Transactions

  Review the transaction reports to identify and flag any duplicate entries that may need corrections.

• Confirm Authorized Transactions

  Ensure all transactions have the necessary approvals and are in line with company policy regarding authorization limits.

• Reconcile Cash and Bank Transactions

  Compare cash transactions and bank deposits to ensure all cash is accounted for and appropriately recorded.

• Document Discrepancies

  Record any discrepancies found during the review process and notify management for further investigation.

• Generate Daily Summary Report

  Create a summary report of the day's financial transactions, including any discrepancies noted, for management review.

• File All Supporting Documents

  Organize and file all supporting documents related to the daily transactions for future reference and audits.