Accounting Tools

JULY 17, 2024

The imprest balance is the amount of cash stated in the general ledger for the petty cash account. Instead, when cash is issued to replenish a petty cash box , the debit is to the expenses for which cash was paid, while the credit is to the general cash account. This amount does not change.

Petty cash 52

Petty cash General Ledger Bookkeeping Auditing 52

Accounting Tools

MAY 21, 2023

Responsibilities of a Full Charge Bookkeeper The subject areas over which the full charge bookkeeper has responsibility are as follows: Record and pay accounts payable Issue invoices to and collect from customers Calculate pay and issue payments to employees Create financial statements and related financial reports Remit payroll taxes , sales taxes (..)

Bookkeeping 75

Bookkeeping Petty cash Payroll Reconciling 75

Accounting Tools

APRIL 8, 2024

The imprest amount is the fixed amount of cash that is presumed to be located in a petty cash box. For example, the initial funding of a petty cash box is $300, and this amount is recorded in the corresponding general ledger account for petty cash.

Petty cash 40

Petty cash General Ledger Bookkeeping Auditing 40

Accounting Tools

AUGUST 29, 2023

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash What is an Imprest Fund? An imprest fund is a small amount of cash that is set aside for use in paying for incidental expenses.

Petty cash 40

Petty cash Reconciling Bookkeeping Auditing 40

Accounting Tools

JUNE 8, 2023

Related Courses Accountants' Guidebook Bookkeeper Education Bundle Bookkeeping Guidebook How to Conduct an Audit Engagement Records Management What are Source Documents? Cash Register Tape A cash register tape can be used as evidence of cash sales, which supports the recordation of a sale transaction.

Petty cash 75

Petty cash Invoicing Bookkeeping Reconciling 75

Accounting Tools

JULY 17, 2024

The controller learns that a long-term employee has been engaged in a low level of petty cash theft for the past ten years. The estimated amount of the loss is a few thousand dollars, though an extensive review by the firm's auditors could probably pin down a more precise figure, at the cost of a $10,000 audit.

Petty cash 40

Petty cash Financial Statements Bookkeeping Auditing 40

Accounting Tools

JUNE 8, 2024

Related Articles Bookkeeper Role in an Accounting Department (podcast) Full Charge Bookkeeper How to Become a Bookkeeper The bookkeeper position is intended to be a freestanding position where there is no more senior person in the accounting department, so reporting to the owner makes the most sense.

Bookkeeping 40

Bookkeeping Petty cash Financial Statements Deposits 40

Stephanie Peterson

JULY 21, 2022

Failing To Save And Record Receipts For Minor Purchases Misplacing or forgetting to record and save receipts paid with personal or petty cash for business-related purchases can add up to a loss of a significant amount of money, even to the most cautious business owners.

Bookkeeping 52

Bookkeeping Petty cash Virtual Bookkeeping QuickBooks 52

Nanonets

JUNE 29, 2023

In this article, we will explore the top 15 expense management software available in the market. The advent of technology has brought forth a range of expense management software solutions that streamline and automate expense reporting processes.

Expense Reports 52

Expense Reports Data Entry Invoicing Budgeting 52

Cloud Accounting Podcast

MAY 18, 2020

It doesn't say this in the articles that I read, but I imagine the way they caught him is probably how they catch a lot of this stuff, which is he was posting on Instagram, or something. Hard to say, right? David Leary: [00:17:04] That's the article- that's the part I did not get. So, you're not gonna get audited.

Payroll 40

Payroll Billing Deposits Auditing 40