Invoice Processing Checklist Template

Receive, verify, approve, and pay vendor invoices with proper documentation.

This free finance checklist template includes 5 tasks organized into 2 sections. Use it to streamline your invoice processing process.

Verification

  1. Receive and log invoice

    Log the incoming invoice with key details including vendor name, invoice number, amount, and due date.

    • Invoice Number (required)
    • Vendor Name (required)
    • Invoice Amount (required)

  2. Verify against PO/contract

    Match the invoice against the original purchase order or contract to verify pricing, quantities, and terms are correct.

    • PO / Contract Number (required)
    • Verification Checks (required) — Options: Pricing matches PO/contract, Quantities are correct, Terms and conditions align, No discrepancies found

  3. Get approval

    Route the verified invoice to the appropriate approver based on the amount and department budget authority.

    • Approver Name (required)
    • Approval Status (required) — Options: Approved, Approved with Changes, On Hold, Rejected

Payment

  1. Schedule payment

    Schedule the payment according to the agreed payment terms. Take advantage of early payment discounts if applicable.

    • Scheduled Payment Date (required)
    • Payment Method (required) — Options: ACH Transfer, Wire Transfer, Check, Credit Card, Virtual Card

  2. Record in accounting system

    Record the payment in the accounting system with proper GL coding and attach all supporting documentation for audit purposes.

    • GL Account Code (required)
    • Transaction Reference (required)