 New Invoice Feature in cheques - adequate to help ensure you are not double paying an invoice?  Ability to browse/attach to Bank Reconciliation  Bank.

Slides:

Advertisements

Similar presentations

Reconciling the trust to the bank account By-Law 9 SS 18(8) requires that you reconcile the two records by the 25th of each month relating to all trust.

Advertisements

How are districts using CIMS? Full bank rec? Cheques only? Once a month or daily? Options/Process to do full bank reconciliation Can it really balance.

Slideshow 4 Setting Up Bank Services, Tax Services and Schedule Codes 5.2.

Journals, Source Documents, and Recording Entries in a Journal

Frank Wood and Alan Sangster, Frank Wood’s Business Accounting 1, 12 th Edition, © Pearson Education Limited 2012 Slide 16.1 Chapter 16 Returns day books.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 3-1 Journals, Source Documents, and Recording Entries in a Journal.

Review product newest enhancements Talk about potential enhancements for this upcoming year General ‘happiness’ discussion Online videos are available.

IT Account System Quick Start

Accounting for Cash and Internal Controls

ACCT 201 ACCT 201 ACCT 201 Reporting and Analyzing Cash and Internal Controls UAA – ACCT 201 Principles of Financial Accounting Dr. Fred Barbee Chapter.

Copyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter 6 Internal Control and Financial Reporting for Cash.

Internal Control and Cash C H A P T E R 9 © 2007 McGraw-Hill Ryerson Ltd. Electronic Presentations in Microsoft® PowerPoint®

1 Basic Accounting Richard Mross (208) revised 02/19/2008.

© The McGraw-Hill Companies, Inc., 2005 McGraw-Hill/Irwin Chapter 6 Reporting and Analyzing Cash and Internal Controls 6-1.

The RECEIVABLES Module Beyond Basics Slideshow 2B.

McGraw-Hill/Irwin Introduction to QuickBooks Pro, 2004 © 2005 The McGraw-Hill Companies, Inc., All Rights Reserved. Chapter 4 Bank Reconciliation.

2013.  Reconcile your checking account  Create bank reconciliation reports  Find errors during reconciliation  Correct errors found during reconciliation.

Nextgen Bank Reconciliation Presented by: Carol Newton Resource 2014.

Exercises: PE 8-2A: Items on company’s bank statement

2012.  Track company sales  Set up customer records in the Customer Center  Track income and expenses by Job  Record Sales Receipts  Use the Undeposited.

©2008 TTW Where “Lean” principles are considered common sense and are implemented with a passion! Product Training Cash and Cash Management.

Confirm where districts are at in scanning: Most Invoices but not say Hydro? All other backup for J/E, cash receipts, A/R, everything? All personal scanner.

NextGen Trustee Department Disbursements This class will cover the various methods of handling department disbursements. Whether entering them manually.

Audits and Bank Reconciliation. Yesterday: We discussed the different ways a business ensures the safety of their cash and inventory 1.Separation of Duties.

© The McGraw-Hill Companies, Inc., 2008 McGraw-Hill/Irwin Chapter 6 Reporting and Analyzing Cash and Internal Controls.

Accounting- How it works

Accounting for Cash: Reconciling the Bank Statement An important part of internal control Need for calculating a true cash balance Two “sections” to be.

Finance – Purchasing & A/P - ing P/Os, P/O and attachments -Discussion: Filing and managing P/O, A/P, close P/O -Discussion A/P Batch reports, cheque.

Chapter 8-1 CHAPTER 8 INTERNAL CONTROL AND CASH. Chapter 8-2 Cash Controls Cash consists of coins, currency, checks, money orders, and money on hand or.

Journalizing Transactions. 2 5 column journal 7. Journals and Journalizing page 56 Journal – a form for recording transactions in chronological order.

 A/P Invoice Volume and Compare to P/O.. Are we whacked to think that if this % was higher - everything would work more efficiently in terms of account.

Confirming use of Copy Invoice Options Confirming how to’s on holding a posted invoice so it will not pay.. New Changes to Hold Vendor and showing on ACP.460.

Chapter – 8: Fraud, Internal Control & Cash OverviewControl FeaturesBank ReconciliationAdjusting Entries.

+ Accounting for Cash & Internal Controls Chapter 6.

₮Describe most current features ₮Talk about/confirm where districts are at with SchoolBooks features ₮Work at establishing a high level of expectation.

Slideshow 2 Setting Up Bank Services, Tax Services and Schedule Codes.

Goals of this Session: Brief discussion on core and web.. What is your mandate? Where are you at? Our “notes” Discuss satisfaction, issues, features still.

Accounting for Uncollectible Accounts Receivable.

Bank Reconciliation Section 7.4. Reconciling your account Banks send statements monthly Banks send statements monthly Cancelled checks may accompany statement.

9–1 1-1 © 2012 The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.

Duties of the Treasurer Treasurers have a fiduciary duty A legal duty of trust Responsible for the protection and prudent management of financial and other.

Bank reconciliations are: Prepared periodically to explain the difference between cash reported on the bank statement and the cash balance on company’s.

Reporting and Interpreting Sales Revenue, Receivables, and Cash Chapter 6 McGraw-Hill/Irwin © 2009 The McGraw-Hill Companies, Inc.

8-1 Prepared by Coby Harmon University of California, Santa Barbara Westmont College.

₮We had previously said “nobody is interested”.. Never going to talk about this again with customers ….. BUT … we have to! ₮What Districts are using this?

Goals of this Session:  Review most significant features added that pertain to Purchasing and A/P  Highlight how districts are doing Purchasing and A/P.

Internal Control and Cash C H A P T E R 8

 Scanning Highlights – “Technical”  Reminder to save documents as pdf type searchable  Consider installing/learning about full Adobe Product (not just.

9.3 Accounting Controls for Cash Bank Reconciliation Both the bank & the business keep a record of cash for the business but at the end of the month the.

Good Afternoon Everyone! Presenter: Donna Goal of Webinar: Focus on District Responsibilities to Schools Books For this session, having a copy of ‘0’ will.

Bank Reconciliation. A company's general ledger account Cash contains a record of the transactions (checks written, receipts from customers, etc.) that.

Cash controls and banking activities

LESSON 11-2 Posting to an Accounts Receivable Ledger.

This is JEOPARDY ! ! ! Accounting Mid-Term review.

Managing Revenue Chapter 2. PAGE REF #CHAPTER 2: Managing Revenue SLIDE # 2 Objectives Set up customer records in the Customer:Job list Record Sales Receipts.

Chapter 2 Page ref. Chapter 2 Managing Revenue 31.

0 Glencoe Accounting Unit 4 Chapter 17 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Unit 4 The Accounting Cycle for a Merchandising.

Bank Reconciliation. Process of balancing your check book Compare your bank statement to your records in QuickBooks to ensure that bank shows what you.

Bank Reconciliation Chapter 4. PAGE REF #CHAPTER 4: Bank Reconciliation SLIDE # 2 Objectives Reconcile your checking Create bank reconciliation reports.

Nextgen Bank Reconciliation Resource Bank Reconciliation Menu Financial Management Bank Reconciliation –Import Bank Statements –Reconcile Bank Accounts.

 Tata Consultancy Services  SAP AG FI - Accounts Receivable.

Reconciling to the Trustee or Bank

Problem 11-2, Page 472 Cash: Substantive Audit Procedures on Bank Reconciliation: The following auditee-prepared bank reconciliation is being examined.

Sarbanes-Oxley, Internal Control, and Cash

Summary of Bank Reconciling Items

Chapter 6 review slides.

CASH & Bank Reconciliation

NextGen Trustee General Ledger Accounting

Cash and Cash Management

If you are using UTS Computers. SAVE ONTO USB (not desktop)!

Presentation transcript:

 New Invoice Feature in cheques - adequate to help ensure you are not double paying an invoice?  Ability to browse/attach to Bank Reconciliation  Bank Statement report ‘Not in Balance’ will no longer show if previous month(s) printed  Input account numbers direct  Ability to Delete a Bank Statement – Also cannot ‘A’dd if your previous month is not in balance  New Calculate in Cash/Deposit add so you can confirm your items without having to save and re- access School Books – New Features

 How to print Simple Transaction Listing for group of Accounts  Using Cash receipts (not Journal Entry) for all other bank transactions (NSF, Service & Direct charges)  Record Savings account as second asset account – collect interest in an expense account  Reminder: Want to print random few accounts – report comes up with all accounts.. Select Pages  Confirm that reports have been enhanced with more selections (CDS.510 by vendor or date range, Cash receipt range) School Books – How To’s

 Knowing the difference between  Out of Balance – Asset Account <> Expense Accounts  Bank Statement Not in Balance – The difference between your open/closing balance on the statement does not match your entries  Bank Statement indicates G/L is not in balance – Bank statement values +/- outstanding items does not equal the current value of the Bank Asset Account  Not in Balance to a G/L report for a particular period – If you compare transactions to a particular date and compare it to what the asset account was at that same period, not equal. School Books – In Balance

 Districts using: SD72, Delta, SD23, SD83, FMCM, BSD, TMSD, PLPSD, Seven Oaks, RETSD  Some have 4 part account Fund.Object.SubOject.Other  Some using Expense type 8 versus 9  Bank rec – not all schools are doing this & each month  Some School District enforce closing – others do not  Some districts very effective at posting from student school fees to school books.. Better reporting, less work, more accountable  Largest percentage of schools now completely migrated to Web Only?! *** SIMPLER, LESS MISTAKES School Books – Customers

 Is Find Vendor Important? How many schools have long list of vendors.. And if they do – looking to reduce? Use of PUR.975  New Invoice Feature in cheques - adequate to help ensure you are not double paying an invoice? School Books – Discussion

 Seven Oaks – Handle management of Fundraising and Students having credit.  Use SchoolBooks Account (PIZZA FUNDRAISER) to manage the fundraiser ….  At end of Fundraiser allocate the profit and move to General Fundraising account  Use SchoolFees to take the result of the fundraiser and apply it to students (credits) and in total BALANCE to the overall fundraising account  Use SchoolFees to apply use of funds per student to buy hoodies, go to Grade 8 grad … etc.  Use ParentConnect and SGH.526 to communicate with parents/students on their credits School Books – Discussion

 Transaction Listing – Show description of all elements of the account ** cannot happen!  Be able to browse/attach to cheques and receipts  Somehow? Provide SchoolBooks view and print to EmployeeConnect.. Does this have significant value to provide?  District Option - print outstanding cheques date range X-Y to assist schools in ensuring they are voiding cheques in a timely fashion … or is this simply a yearend thing to do at each location? School Books – Open List