Intercompany Transaction Reconciliation Checklist ( FINANCE )

This checklist outlines the steps required to ensure accurate and timely reconciliation of intercompany transactions to maintain financial integrity and compliance between subsidiaries.

• Collect Transaction Data

  Gather all intercompany transaction details from relevant departments for the reconciliation period.

• Verify Transaction Accuracy

  Ensure the accuracy of all transaction entries, including amounts, currencies, and dates, by cross-referencing with source documents.

• Match Transactions

  Match intercompany transactions between the involved subsidiaries to identify discrepancies.

• Investigate Discrepancies

  Investigate any unmatched or erroneous transactions by consulting with relevant teams and resolving any issues found.

• Prepare Reconciliation Report

  Create a reconciliation report summarizing matched transactions and outstanding discrepancies for review.

• Review and Approve Report

  Have the reconciliation report reviewed and approved by finance management to ensure accuracy and completeness.

• Document Reconciliation Process

  Document the steps taken during the reconciliation process for audit purposes and future reference.

• Finalize Entries

  Finalize any necessary journal entries to record the reconciled amounts in the accounting system.

• Schedule Next Reconciliation

  Set a date for the next intercompany transaction reconciliation to maintain continuous financial oversight.