• Version 1.0

• Prepared by: @Lorraine Sebata

• Approved by: @Feli Capron

• Reviewed date: 2025-07-24

• Next review date: 2026-07-24

1. Purpose

This SOP outlines the step-by-step process for updating the company's loan payout spreadsheet. Its purpose is to ensure consistency, accuracy, and compliance with financial reporting standards. By following this procedure, the company maintains clear financial records, minimizes errors, and enhances transparency in loan disbursements.

2. Scope

This process applies to all loan payouts recorded by the company. The procedure ensures that all loan disbursements are correctly documented, financial records align with company policies and regulatory requirements, and any discrepancies are identified and addressed in a timely manner. Historical payout data must also be consistently maintained for auditing and financial planning. This SOP must be completed monthly by the Accountant and reviewed quarterly by the CFO.

3. Related Policies

Data Protection Policy

4. Roles and Responsibilities

• Accountant: Responsible for completing the monthly update of the loan payout spreadsheet.

• CFO: Responsible for the quarterly review of the loan payout spreadsheet to ensure financial compliance and reporting accuracy.

• CFO: Changes to the payout reporting structure must be approved by the CFO before implementation.

5. Procedure: Updating the Loan Payout Spreadsheet

5.1 The loan payout spreadsheet must be updated at the end of each month.

• 5.1.1 Data accuracy is critical, and any errors must be identified and corrected before submission.

• 5.1.2 The report must be stored securely, following the company's data protection policies.

• 5.1.3 Any anomalies, such as duplicate payments or incorrect disbursement amounts, must be flagged and investigated before the report is finalized.

5.2 Verify and Organise Data

• 5.2.1 Access the loan software and download the payout report for the prior period.

• 5.2.2 Export the data to an Excel spreadsheet, making sure to include all relevant fields.

5.3 Download and Export

• 5.3.1 Cross-check the exported report with the loan records to confirm accuracy.

• 5.3.2 Organize the data in a structured format, ensuring all necessary columns are present and correctly labelled.

5.4 Update the Current Payout Report

• 5.4.1 Add new payout details to the existing spreadsheet, maintaining a consistent format.

• 5.4.2 Ensure that all loans are recorded under the correct categories.

5.5 Data Accuracy and Quality Check

• 5.5.1 Verify the spellings of names and financial figures to prevent errors.

• 5.5.2 Check for and eliminate any duplicate entries.

• 5.5.3 Ensure that the totals and calculations align with the company's financial records.

5.6 Add Notes and Annotations

• 5.6.1 Include relevant notes on any adjustments, reversals, or special cases.

• 5.6.2 Highlight any unusual or high-value transactions that may require further review.

5.7 Finalize and Save

• 5.7.1 Save the updated report using the correct naming format and date reference.

• 5.7.2 Ensure the document is stored securely in the designated financial records folder.

5.8 Submit for Review

• 5.8.1 Notify the CFO that the report is ready for the quarterly review.

• 5.8.2 Be available to clarify any discrepancies or answer questions that may arise.

6. Documentation and Forms

• Loan Payout Report (Excel Spreadsheet)

7. Training

All Accountants and relevant staff will receive mandatory training on this SOP.

8. Review and Revision

This SOP will be reviewed annually by the Finance Department to ensure its continued effectiveness and compliance with business objectives.