**Checkpoints to Ensure Financial Compliance for a Retail Business**

1. **Sales Tax Compliance**
Regularly verify that all applicable sales taxes are accurately calculated, collected, and remitted to the appropriate tax authorities on time. Maintain up-to-date knowledge of tax rate changes in all jurisdictions where your business operates.

2. **Inventory Management and Valuation**
Conduct periodic inventory audits to ensure proper valuation and accurate reporting. Reconcile inventory counts with financial records to comply with accounting standards and prevent discrepancies.

3. **Cash Handling Procedures**
Implement strict controls over cash handling, including daily reconciliations of cash registers, secure deposits, and separation of duties to reduce the risk of theft or mismanagement.

4. **Employee Payroll Compliance**
Ensure that payroll is processed accurately, including correct wage calculations, timely tax withholdings, and adherence to labor laws. Keep proper records for tax filings and employee benefits.

5. **Vendor and Supplier Contracts**
Review all vendor and supplier agreements to ensure terms are in compliance with financial regulations. Verify that payments are made in accordance with contract terms and properly documented.