What an accountant checks before calling the bank

This story shows a practical response to limit used, expected receipts and the payments that cannot move.

Who this is

This composite follows the accountant in a engineering business of about 60 people. Purchase requests and small repair needs often reach the owner at the same time. Written authority limits reduce uncertainty. The role is answerable for the state of the accounts close checklist and for passing exceptions to the owner or CA. Calls most often come from people who need a yes, no or reliable date before they can continue.

The task here is what an accountant checks before calling the bank. The responsibility is limited: this person can check and record facts within their role, then seek approval when money, safety, customer promises or rules require it.

The moment

At the stores counter, the accountant is dealing with a closing stock difference. The immediate problem concerns limit used, expected receipts and the payments that cannot move. The accountant has to decide what can move now and what must wait. The information comes from purchase bills, bank statement, sales register, stock valuation and Tally ledgers. A quick answer is tempting, especially when the next team is already standing nearby, but an unverified status can become a commitment.

The first action is to put the current source on the desk or screen. It may be a job card, a supplier message or a bank entry. The accountant compares the source with the last approved record. A difference is recorded openly. The role then asks who can verify it, rather than inventing a missing value.

This particular moment turns on three small decisions: check drawn bank limit, expected receipts and non-movable payments, prepare written questions for banker, and retain dated bank position in file. Their order matters. A later approval does not repair a wrong quantity or an unsafe condition discovered after work has started.

What they check, in order

1. Confirm the case. Check drawn bank limit, expected receipts and non-movable payments. Look at purchase bills, bank statement, sales register, stock valuation and Tally ledgers. Write the reference next to the question instead of keeping it only in chat.
2. Check the original evidence. Verify unentered bills, unreconciled receipts, credit notes, stock changes and cut-off. If two records disagree, keep both and record what needs reconciliation.
3. Look for downstream effects. Prepare written questions for banker. Tell the affected team which job, payment, batch or person is waiting. Avoid giving a firm time without evidence.
4. Apply the authority boundary. The owner or CA reviews exceptions involving an altered commitment or a decision outside the normal limit. A verbal approval should be documented.
5. Keep the next action visible. Retain dated bank position in file. Show the person, deadline and the record that will prove the task is done.
6. Verify closure. Find dated close file and list of unresolved differences. If it is missing, keep the item open and make it the first check at the next review.

The checks are intentionally small. They should fit into the person's existing shift instead of creating another report. More detail is useful only when someone will read it and act on it.

What they wish they knew earlier

They would prefer to have unentered bills, unreconciled receipts, credit notes, stock changes and cut-off before the request becomes urgent. A short update from the previous team can prevent repeated calls. The hard part is deciding whether the update is current and authorised.

The owner or CA should receive exceptions with evidence, rather than a stack of routine entries. A matched bank total can still hide wrong customer allocation. Check the entry reference.

The one sheet that helps

A small accounts close checklist brings the question, the evidence and the next person together. The rows below are examples only. They are neither a real company's records nor measured results.

Update the sheet when something changes, even if that change is a revised promise or a failed check. Do not erase the original instruction. For a reusable version, open Thirteen week cash forecast.

If you do this job

1. Tomorrow, select one real case that matches Monthly owner report. Keep the original source visible while you make the check.
2. Record who owns the next move. If the evidence is missing, mark the case open and state the exact document or physical check needed.
3. Before hand-over, tell the next role which part is confirmed and which part still needs a decision. Use Working capital always short to investigate any repeated gap.

Read next

• Working capital always short
• Monthly owner report
• Thirteen week cash forecast