Processes and procedures for transaction accounting establish structured guidelines for recording, classifying, and reporting financial transactions within an organisation. They ensure accuracy, compliance, and transparency by standardising recording methods, verifying transaction details, and maintaining comprehensive documentation.

These protocols also include authorisation workflows, segregation of duties, and regular reviews to prevent errors and fraud. Ultimately, they aim to provide stakeholders with reliable financial information for informed decision-making while continuously striving for improvement in efficiency and effectiveness.