Cash Reconciliation Checklist ( FINANCE )

This checklist ensures that all cash transactions are accurately reconciled with bank statements on a regular basis. It helps in identifying discrepancies and ensuring that the cash balance in the accounting records matches the bank records.

• Gather Financial Records

  Collect all relevant financial records including bank statements, cash register reports, and accounting records for the reconciliation period.

• Verify Deposits

  Check that all deposits recorded in the accounting system match those in the bank statement.

• Review Withdrawals

  Ensure that all withdrawals, checks, and electronic payments have been recorded accurately in the accounting records.

• Identify Discrepancies

  Compare the cash balance in the accounting records to the balance shown in the bank statement. Note any discrepancies.

• Investigate Errors

  Investigate any discrepancies found. This may involve checking transaction details and verifying with other departments if needed.

• Make Adjustments

  Adjust the accounting records for any errors or unrecorded transactions identified during the reconciliation process.

• Finalize Reconciliation

  Once all discrepancies are resolved, finalize the cash reconciliation report and document any necessary adjustments made.

• Obtain Approval

  Submit the finalized cash reconciliation report to the finance manager for approval.

• Archive Documentation

  Store all documentation related to the cash reconciliation process securely for future reference and compliance.