Payment controls checklist
Review these five controls once a month. Mark each control as in place or not, name the person responsible, and record the date checked.
| Control | In place | Responsible | Date checked |
|---|---|---|---|
| The person who approves a payment is not the person who sends it. | Yes No | ||
| Invoice numbers are matched against past payments before release. | Yes No | ||
| Bank statements are reconciled each month by someone who does not handle deposits or checks. | Yes No | ||
| The vendor list is reviewed for duplicate names, shared addresses, and vendors with no recent work. | Yes No | ||
| Employees and vendors have a confidential way to report concerns. | Yes No |
Information on this page is general in nature and does not constitute legal, tax, accounting, or investment advice. Barriteau Advisory, contact@barriteauadvisory.com.