Accounts Payment Reconciliation Checklist
Accounts Payment Reconciliation Checklist
This checklist is designed to assist in the accurate reconciliation of our accounts payments, ensuring all transactions are correctly recorded and balanced.
Instructions: Please complete the following steps, checking off each item once verified. This checklist should be used monthly or as required for effective financial management.
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Checklist Item |
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Confirm all invoices issued for the period are recorded in the accounts payable ledger. |
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Match all payment transactions against bank statements. |
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Verify the accuracy of amounts paid against amounts billed. |
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Check for any discrepancies between recorded payments and bank withdrawals. |
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Review all outstanding invoices to ensure no payments have been missed. |
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Ensure all credit notes are accounted for and properly applied. |
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Reconcile any variances found during the payment matching process. |
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Confirm that all vendor statements align with our payment records. |
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Validate that all early payment discounts and negotiated terms have been applied correctly. |
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Review and sign off the final reconciliation report. |
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Additional Steps (If Required)
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Checklist Item |
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Investigate and resolve any long-standing unresolved discrepancies. |
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Update internal records to reflect the reconciled figures accurately. |
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Completed By: [Name], [Position]
Date: [Month Day, Year]
Review and Approval By: [Name], [Position]
Date: [Month Day, Year]
