Cash:
The Company maintains five bank accounts, three of which are held with JM Bank and one of which is maintained with Griffin Bank. Additionally, the Company has one operating bank account with Grant Worldwide Bank, which is used for operations in Fizland. The following is a list of these bank accounts and the purpose of each account:
• JM Bank & Trust Account #201138413 – This is the Company’s primary operating account.
• JM Bank &Trust Account #201138426 – This is the Company’s payroll account for salary employees.
• JM Bank & Trust Account #201138427 – This is the Company’s payroll account for hourly employees.
• Grant Worldwide Bank #77657642 – This is the Company’s operating account in the country of Fizland for its operations within Fizland.
• Griffin Bank Account #111799662 – This is the Company’s money market investment account.
The Treasury department, including the Treasury Manager and Treasury Clerk, Brett King, is responsible for monitoring and reviewing cash inflows and outflows for the Company, or the amount of money they are receiving in and paying out for the Company. The Treasury department staff performs several functions including projecting, monitoring, and adjusting the Company’s cash position to mitigate any liquidity shortfalls and releasing payments at optimal times. The Treasury department monitors bank accounts to ensure proper funding and balancing.
Each month, the Treasury Clerk, prepares bank account reconciliations for each bank account between the Company’s cash balance per the banks and reconciles this to the cash balance recorded in the General Ledger (GL). At the same time, the Treasury Clerk reviews monthly bank statements and manually prepares the Outstanding Payments spreadsheets and determines if there are any outstanding cash receipts. The outstanding receipts are any cash received by the Company that has not yet been deposited and reflected in the bank statements.
The Outstanding Payments spreadsheet includes payments made by the Company that have not been deposited by the third party or have not yet been cleared by the bank. At the end of every month, The Treasury Clerk determines which payments made during the month have not yet cleared the banks based upon information he obtains from our online banking systems, which are secure websites we have with each of our banks, as well as queries run in SAP. Additionally, he will check to see which outstanding payments from the previous month have cleared the bank during the period and remove them from the list.
Once the GL and bank account balances have been reconciled, the monthly bank reconciliations are forwarded to the Treasury Manager for review/approval. The Treasury Manager also reviews the Outstanding Payments spreadsheet to ensure that checks that were previously outstanding have cleared and that the amounts reconcile to the bank reconciliation.
Upon approval, the Treasury Manager signs and dates the reconciliations and returns it to the Treasury Clerk who files the bank reconciliations and supporting documentation.
If, in performing the bank reconciliation, the Treasury Clerk discovers that the values do not reconcile, then he/she will investigate any discrepancies and this investigation involves reviewing all cash transactions for the period to determine where the discrepancy exists. If the discrepancy does not require an adjusting entry, then the issue is resolved and forwarded to the Treasury Manager for review.
Borrowings:
The Treasury department initiates any borrowing arrangements with financial institutions. When the funds are received, the Treasury Clerk records the amount borrowed in the GL. Based on the monthly statements provided by the financial institution, the Treasury Clerk records the interest expense, accrued interest and principal on all borrowings. The VP of Finance remits principal and interest payments on borrowings to the bank by wire transfer.
Note: Process activities related to cash payments for purchases and payroll, and cash receipts are incomplete for training purposes.
Cash:The Company maintains five bank accounts, three of which are held with JM Bank and one of which is maintained with Griffin Bank. Additionally, the Company has one operating bank account with Grant Worldwide Bank, which is used for operations in Fizland. The following is a list of these bank accounts and the purpose of each account:• JM Bank & Trust Account #201138413 – This is the Company’s primary operating account.• JM Bank &Trust Account #201138426 – This is the Company’s payroll account for salary employees.• JM Bank & Trust Account #201138427 – This is the Company’s payroll account for hourly employees.• Grant Worldwide Bank #77657642 – This is the Company’s operating account in the country of Fizland for its operations within Fizland. • Griffin Bank Account #111799662 – This is the Company’s money market investment account.The Treasury department, including the Treasury Manager and Treasury Clerk, Brett King, is responsible for monitoring and reviewing cash inflows and outflows for the Company, or the amount of money they are receiving in and paying out for the Company. The Treasury department staff performs several functions including projecting, monitoring, and adjusting the Company’s cash position to mitigate any liquidity shortfalls and releasing payments at optimal times. The Treasury department monitors bank accounts to ensure proper funding and balancing. Each month, the Treasury Clerk, prepares bank account reconciliations for each bank account between the Company’s cash balance per the banks and reconciles this to the cash balance recorded in the General Ledger (GL). At the same time, the Treasury Clerk reviews monthly bank statements and manually prepares the Outstanding Payments spreadsheets and determines if there are any outstanding cash receipts. The outstanding receipts are any cash received by the Company that has not yet been deposited and reflected in the bank statements. The Outstanding Payments spreadsheet includes payments made by the Company that have not been deposited by the third party or have not yet been cleared by the bank. At the end of every month, The Treasury Clerk determines which payments made during the month have not yet cleared the banks based upon information he obtains from our online banking systems, which are secure websites we have with each of our banks, as well as queries run in SAP. Additionally, he will check to see which outstanding payments from the previous month have cleared the bank during the period and remove them from the list. Once the GL and bank account balances have been reconciled, the monthly bank reconciliations are forwarded to the Treasury Manager for review/approval. The Treasury Manager also reviews the Outstanding Payments spreadsheet to ensure that checks that were previously outstanding have cleared and that the amounts reconcile to the bank reconciliation. หลังจากอนุมัติ ผู้จัดการบริหารสัญญาณวันที่กระทบยอด และสอบเจ้าหน้าที่บริหารที่แฟ้มการกระทบยอดธนาคารและเอกสารสนับสนุนการ ถ้า ดำเนินการกระทบยอดธนาคาร เจ้าหน้าที่บริหารการเงินพบว่า ค่าที่ปรับปรุง เขาจะตรวจสอบความขัดแย้ง และตรวจสอบนี้เกี่ยวข้องกับการตรวจสอบธุรกรรมเงินสดทั้งหมดสำหรับรอบระยะเวลาที่กำหนดซึ่งการมีอยู่ของความขัดแย้ง ถ้าความขัดแย้งต้องมีรายการปรับปรุง แล้วปัญหาจะได้แก้ไข และส่งต่อการบริหารการเงินผู้จัดการตรวจสอบ เงินกู้ยืม:กระทรวงการคลังเริ่มจัดการกู้ยืมเงินกับสถาบันการเงิน เมื่อได้รับเงิน ข้อมูลพนักงานบริหารยอดเงินยืมใช้ในจีแอลยึดงบรายเดือนโดยสถาบันการเงิน เสมียนคลังบันทึกดอกเบี้ยจ่าย ดอกเบี้ยค้างรับ และเงินต้นในเงินกู้ยืมทั้งหมด VP เงิน remits ชำระเงินต้นและดอกเบี้ยเงินกู้ยืมธนาคารโดยการโอนหมายเหตุ: กระบวนการกิจกรรมที่เกี่ยวข้องกับการชำระเงินสดสำหรับการซื้อและค่าจ้าง และใบเสร็จรับเงินสมบูรณ์สำหรับการฝึกอบรม
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