Expense Monitoring Checklist ( FINANCE )

This checklist is designed to ensure that all expenses are being monitored and tracked effectively throughout the accounting period. It helps in maintaining financial discipline and identifying any unusual spending trends.

• Gather All Expense Reports

  Collect all expense reports submitted by employees for the given period to ensure that no paperwork is missing.

• Review Expense Categories

  Check that all reported expenses are categorized correctly (e.g., travel, supplies, etc.) for accurate tracking.

• Verify Receipts

  Ensure that all expenses have corresponding receipts attached and that they match the amounts reported.

• Check for Policy Compliance

  Review each expense to confirm it complies with the company’s expense policy, including limits and approvals.

• Summarize Total Expenses

  Calculate the total expenses for the period by category to understand spending patterns.

• Identify Unusual Expenses

  Look for expenses that are significantly higher than usual or fall outside expected categories for further investigation.

• Prepare Expense Report

  Compile all findings and summaries into a formal expense report for review by management.

• Schedule Management Review

  Set a meeting with management to discuss the expense report, findings, and any necessary actions.

• Implement Feedback

  Incorporate any feedback from management into future expense tracking processes to improve oversight.

• Archive Documentation

  Ensure all documentation related to expenses is stored properly for future reference and audits.