Critical Policy Activity
4th Activity - Reconciliation (Cont'd.)
A reconciliation is performed to verify the processing and recording of transactions.
Each of the following areas should be explored:
- Was the transaction valid?
- Was the transaction properly authorized?
- Was the transaction recorded timely?
If the answer to any of these questions is NO, perform additional research. This includes following-up on any differences or discrepancies.
Last Revised 4/18/2006