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Interbank Transfer Cutoff

This worksheet provides the format for completing an interbank transfer schedule and documenting the results of applicable audit steps performed. Specifically, auditors should review the cash receipts and disbursements journals, bank statements, and related paid checks (including the cutoff bank statement) for a reasonable period (normally five business days) before and after year end. Record material interbank transfers on the transfer schedule.

Entering Data

For the summary information at the bottom of the workbook to calculate correctly, the first and last columns of the workbook must be completed for each test item. If not completed properly, the summary information will display an error message, and a note describing the error will be provided nearby. In most cases, the individual cells causing the error will be surrounded with a red border.

Inserting and Deleting Line Items

The pre- and post-cutoff sections of the worksheet each contain 15 line items. If fewer than 15 line items are needed, excess rows can be deleted.  See the section “General Workpaper Functionality and Tips for Entering Data” for information concerning the tips for and potential effects of inserting and deleting workbook line items.