How to Process Documents for an Audit
How to Process Documents for an Audit
1
Gather and file all your business records -- you will need to confirm the correctness of your transaction entries in the general ledger. Label the files clearly and arrange them in alphabetical order, or according to dates, department or titles. Gather all your accounting books: sales books, purchases books and inventory books.
2
Proceed to verify that all the filed documents bear appropriate marks of authenticity: transaction dates, documents numbers, letter heads, rubber stamps, VAT tax slips and approval signatures.
3
Compare the figures in the transaction documents against the entries in the accounting books and the entries you have made in the general ledger in order to verify that you have entered them correctly. This way, you will have effectively facilitated the auditor's job of tracing and analyzing different transactions conveniently.
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