What A Good Financial Management Checklist Ensures? A good financial management checklist ensures that: • All accounting registers, journals and ledgers are up to date. • All financial reports are prepared and submitted in a timely manner. • Procedures for the use of petty cash are properly developed. • All expenses other than petty cash are paid by cheque. • Financial activities are separated in such a way that one person alone never registers, reviews and authorizes any complete transaction. • Procedures for authorizing purchases are being followed. • Security measures are in place to protect the assets, books and registers from tampering or theft. • A physical inventory of fixed assets and supplies is conducted at least once a year. • The bank statement is reconciled monthly. Know more about Leadership & Management ow.ly/qC0Ru
Posted on: Thu, 14 Nov 2013 12:01:54 +0000
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