Account Review Workpaper Template
Systematically review balance sheet and GL accounts for reasonableness, accuracy, and proper classification before finalizing month-end close.
How to use this template
Select accounts for detailed review
Identify high-risk or high-dollar accounts: cash, AR, inventory, fixed assets, debt, equity accounts requiring thorough review.
Analyze account activity
Review all transactions posted to the account during the period. Identify unusual items, large transactions, or items outside normal business.
Verify supporting documentation
For significant transactions, pull supporting documentation: invoices, contracts, receipts, loan agreements, asset purchase documents.
Document conclusions
Note that you reviewed the account, found no issues, or identify specific adjustments needed. Sign and date the workpaper.
Follow up on exceptions
For any issues identified, determine root cause and record correcting entry. Communicate material items to accounting leadership.
Why use this template
- Catches errors and unusual items before external audit
- Demonstrates management review of all significant accounts
- Identifies control weaknesses or process improvements needed
- Creates documentation of management assertions for auditor
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