The Transaction Review process enables you to systematically verify, validate, and approve all financial transactions ensuring accuracy, completeness, and compliance before finalising accounting records. Regular transaction review is critical for identifying categorisation errors, detecting duplicate entries, confirming correct GST treatment, verifying customer and supplier linkages, and maintaining confidence that your financial statements accurately reflect business activity.
Exacc provides comprehensive review tools including advanced filtering by date, account, contact, amount, and status allowing you to focus on specific transaction types or periods requiring attention. The interface displays complete transaction details including dates, descriptions, amounts, account assignments, GST codes, attached documents, and audit trails showing who created or modified each entry. Sorting capabilities enable you to organise transactions by various criteria facilitating efficient pattern recognition and systematic review workflows.
During review you verify transaction details against source documents such as invoices, receipts, and bank statements, correct any errors through inline editing or bulk update tools, delete or void duplicate entries whilst maintaining audit trails, and split complex transactions across multiple accounts when necessary. The system enables account balance verification ensuring transaction totals reconcile with external records, facilitates investigation of discrepancies through detailed transaction drill-down, and supports approval workflows marking reviewed transactions as verified and protecting them from accidental modification.
Want to learn the exact steps to effectively review and validate your transactions? Follow our guide below for a detailed walkthrough of the transaction review process.
Systematically verify and approve transactions to ensure accurate financial records
Your transactions have been thoroughly reviewed and verified - all entries are accurate, properly categorised, correctly reconciled, and your financial records now reflect true business activity with complete confidence.