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Walk Through Checklist

This document is a walk-through checklist for an accounting/operating function or process. It will walk through revenues, cash receipts, and accounts receivable as well as purchases, cash disbursements, and accounts payable. For revenues, cash receipts, and accounts receivable, it will trace transactions from inception to completion, checking for appropriate authorization of credit approval and sale, documentary evidence of shipment, billing, and recording the sale in the proper period. For purchases, cash disbursements, and accounts payable, it will similarly trace transactions from inception to completion, checking for appropriate authorization of expenditure, receipt of goods or services, invoice processing and approval, prevention of duplicate payment, authorized signatures, proper account

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Ja'maine John Agdeppa Manguerra
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98 views

Walk Through Checklist

This document is a walk-through checklist for an accounting/operating function or process. It will walk through revenues, cash receipts, and accounts receivable as well as purchases, cash disbursements, and accounts payable. For revenues, cash receipts, and accounts receivable, it will trace transactions from inception to completion, checking for appropriate authorization of credit approval and sale, documentary evidence of shipment, billing, and recording the sale in the proper period. For purchases, cash disbursements, and accounts payable, it will similarly trace transactions from inception to completion, checking for appropriate authorization of expenditure, receipt of goods or services, invoice processing and approval, prevention of duplicate payment, authorized signatures, proper account

Uploaded by

Ja'maine John Agdeppa Manguerra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Walk-Through Checklist

Accounting/Operating Function or Process to be Subject of “Walk- Will walk-through be


through” performed?

Yes No
1. Revenues, Cash Receipts and Accounts Receivable 
2. Purchases, Cash Disbursements and Accounts Payable 
3. Payrolls 

Revenues, Cash Receipts and Accounts Receivable Performed By: Performance


Select one or more transactions of revenues, cash
receipts and accounts receivable to obtain an
understanding of related control activities and to
determine whether they have been placed in
operation. This involves tracing related transactions
from inception to completion, noting the following:
1. Appropriateness of authorization of credit approval Treasurer 
and sale.
2. Documentary evidence of shipment of the goods Shipping Officer 
3. Documentary evidence of billing Sales Officer 
4. Documentary evidence of recording the sale and Accounting Department 
the related cost of sale in the proper period
5. Evidence collection and proper posting to the Accounting Manager 
general ledger and subsidiary ledgers

Purchases, Cash Disbursements and Accounts Performed By: Performance


Payable
Select one or more transactions of revenues,
purchases, cash disbursements and accounts payable
to obtain an understanding of related control
activities and to determine whether they have been
placed in operation. This involves tracing related
transactions from inception to completion, noting
the following:
1. Appropriateness of authorization of expenditure Purchasing/Procurement 
Manager
2. Documentary evidence of receipt of the good or Purchasing staff 
services
3. Evidence of process and approval of the vendor’s Purchasing staff 
invoice
4. Notation on the invoice indicating proper Accounts Payable Staff 
processing and cancellation to prevent duplicate
payment
5. Authorized signatures Purchasing Manager 
6. Agreement of details of payment order (e.g., Purchasing staff 
amount, payee, date) to the cash disbursements
journal
7. Proper account distribution and posting to the Accounting Department 
general ledger
8. Evidence that the invoice is recorded in the proper Accounting Department 
period

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