Our Manual Journal Entry Review Policy is designed to enhance the accuracy, compliance and transparency of financial reporting. By establishing clear guidelines for preparing, reviewing, approving and documenting manual journal entries, this policy ensures that organizations maintain robust internal controls and meet audit requirements. It emphasizes proper authorization, segregation of duties and adherence to accounting standards, reducing the risk of errors or fraudulent activity. This tool is essential for businesses aiming to streamline their financial processes while adhering to best practices and regulatory compliance.

This document includes four detailed samples, each tailored to specific organizational needs and scenarios. Sample 1 focuses on the foundational purpose, scope and core requirements for manual journal entry preparation and review. Sample 2 delves into independent reviews for high-risk entries and outlines key policy statements for error mitigation. Sample 3 provides an overview of the responsibilities of preparers and reviewers, ensuring accountability at every stage. Sample 4 emphasizes controls over journal entry processing, detailing approval hierarchies and documentation requirements for both routine and non-routine entries. Together, these samples offer a versatile framework adaptable to various organizational structures and complexities.

Sample procedures include:

• Non-recurring journal entries require prior approval from the business unit controller.
• Manual journals based on judgment or subjectivity are reviewed in full, irrespective of their financial value, by an independent person.
• All required fields should be filled in using the upload template or direct entry into the general ledger.
• All journal entries shall be approved before the 6th business day financial reporting meetings.