Finance and accounts12 checksyearlyabout 10 minutes, estimate; adjust for site

Bank limit renewal checklist

This checklist covers documents and numbers to prepare before the CC or OD renewal. Tick each item at the point of work and record any failure.

0 of 12 checked

1Collect the records

Bank facility expiry date is knownMUST
Latest financial statements are collectedMUST
Stock statements are current
Debtor ageing is prepared

2Match and review

Facility utilisation history is availableMUST
Receivables assumptions are explained
Required collateral documents are listed by bank
Renewal request has owner

3Approve and close

Bank queries are loggedMUST
Documents submitted have receipt
Revised terms are reviewed
Next follow-up date is set

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When to use it

The accountant uses this list during the planned annual review. Allow about 10 minutes for the checks, plus time for any problem found. Work from the accounting ledger and supporting statements. Look at the actual item before ticking it. Mark No when evidence is missing and explain why.

Its scope is specific: documents and numbers to prepare before the CC or OD renewal. First confirm bank facility expiry date is known, then examine the relevant work before approval or handover. The person named at the top should complete the checks as the work happens. Do not sign a page from memory later.

If an item is a "No"

For a failed (must) check, hold the affected work at its current stage. The accountant records the item, current job or lot, time and a clear note. Tell the person authorised to release that work. Do not tick Yes after simply sending a message. Recheck the item and record who accepted it before proceeding.

For this checklist, pay particular attention when facility utilisation history is available cannot be confirmed. Check the supporting record or the actual material. A photo alone may not prove a measurement or approval. Note missing evidence.

For other failures, name an owner and due date. Escalate safety, compliance or customer risks before release.

Common mistakes

Ticking latest financial statements are collected without looking at the actual item or source record.
Writing "done" when receivables assumptions are explained has not been checked.
Closing the sheet even though bank queries are logged is still unknown.
Filing the page with no name, no date or no owner for failed items.

Make it your own

Print this on A4 or keep it in a shared sheet. Add a column for the person clearing each failed item. In a manufacturing business, adapt the references to the part, lot, machine or delivery document your team actually uses. In distribution, name the local register and sign-off owner. Remove a check only if it truly cannot apply, and write down why. Do not remove critical safety or statutory checks without qualified review.

Try the list on a real job, then ask the accountant which records were hard to find. Keep one approved version with a revision date so the team uses the same checks.

A checklist only works if someone ticks it, every time, and someone reads it.

Questions people ask

Who should sign the bank limit renewal checklist?

The accountant who performed the check signs it. If a different person approves release, capture that name too. Do not use another person’s signature.

What if bank facility expiry date is known cannot be confirmed?

Mark No, describe what you looked at and hold the affected work if it is a critical item. Ask the authorised owner to decide the next action. Keep the result in the same record.

Can we use the short version instead of the full checklist?

Use the short version for a quick reminder. The full list has the remaining checks, failed-item notes and signature. Keep it for the actual decision and review.