Financial Foundation Work: Checkout And Reconciliation

Checkout

In order to sum up all the economic activities and corresponding income and expenditure in a certain period (such as annual, quarterly, monthly), the regular collection, sorting and summing up work is to settle accounts.

Each unit must make regular checkout work according to the relevant regulations.

The following tasks should be done:

(1) it is necessary to make clear that all the economic pactions in the settlement period must be accounted for, and the accounts must not be advanced nor delayed.

(2) the profits, accrued depreciation, amortization, accrued expenses and payable taxes that have been realized and not yet obtained by the enterprise shall be calculated according to the accrual basis principle, and the accounting bookkeeping vouchers shall be worked out and recorded in the relevant books.

(3) for all kinds of

The balance of the income account should be carried out between the accounts concerned.

For example, the final balance of the "manufacturing expense" account should be allocated at a certain proportion and pferred to the "production cost" account. The final balance of the relevant accounts, such as "product sales revenue", "product sales cost", "product sales cost", "product sales tax", "management expenses", "investment income" and "financial cost", shall be pferred to the "profit account".

(4) for the cash journal, bank journal, general ledger and detailed accounts, the amount of the current period and the final balance are recorded.

There are several ways to settle accounts:

1. day checkout

After the completion of the business day, the cashier shall register the cash journal and bank deposit journal in writing and in a timely manner, and shall conclude the balance of the day. The cash journal should be checked with the cash on that day.

In the case of "income journal" and "expenditure journal", when the cashier has registered the accounts at the end of the day, the total number of total income and the total expenditure on that day will be summed up, and then the total daily expenditure of the expenditure journal in the income journal will be pferred to the total column of the daily journal. On that basis, the book balance will be recorded again.

2. months checkout

Monthly checkout is based on one month's closing period, and the end of each month is a summary of the economic business of the month.

At the end of each month, a checkout method should be used to settle accounts, that is to say, "the sum of the current period" and "the final balance" in the next row of the last account of each account.

If there is no balance at the end of the month, it should be marked "flat" in the column of "borrow or lend", and a "red line" should be drawn after "0" in the "balance" column.

The accounts for the cumulative amount of the year to be calculated monthly shall be calculated monthly from the beginning to the end of this month and registered on the next line of the month.

In the column of "summary", the words "accumulated for the month" are marked.

3. quarter settlement

To handle quarterly knots, we should draw a red line at the end of the last month of the quarter, indicating the end of the season. Of course, we should settle the quarter and quarter balance under the red line, and mark the word "quarterly total" in the summary column. Finally, we should draw a red line at the bottom of the summary column to indicate the completion of the quarter.

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4. years checkout

Annual checkout is based on a year's cycle and summarizes the economic performance and results of the year.

At the end of the year, the cumulative amount of the whole year will be registered in the next line of the total number of December. The words "total year" will be marked in the "summary" column, and a double red line will be drawn below.

For a balance account, the word "carry over to the next year" should be marked in the "summary" column of the next line in the next year when the balance is settled for the next year.

In the column of "summary" of the first line of the new account page of the new year, the word "carry over year ahead" is marked, and the remaining amount at the end of last year is filled in the "balance" column.

1. what is reconciliation?

Reconciliation is to ensure that the account books and accounting statements are reliable and reliable. The accounts records of each account book are checked every month to ensure that the accounts are in line with the accounts, and the accounts are in line with the accounts.

We usually call the reconciliation includes three methods: checking accounts, checking accounts and checking accounts.

2. account check

The checking of accounts refers to checking whether the account records of the cashier are consistent with the original vouchers, the time of credential vouchers, the number of certificates, the contents and the amounts, and whether the bookkeeping direction is consistent.

This check is mainly carried out in daily bookkeeping and documentation preparation.

At the end of the month, if you find that the accounts do not match, check back the account records and accounting vouchers to ensure that the accounts are consistent.

The accounting voucher is the basis for registering the account books, and the accounts check the main checking errors.

When checking, record the contents, quantity, amount and accounting items of the voucher and account books, and ensure the consistency between the two.

Reconciliation of 3. accounts

Checking accounts refers to checking the relevant figures between various books to ensure that the accounts are consistent.

(1) the total number of borrowers in the general ledger account should be checked against the total number of credits; the sum of the total balance at the end of the borrower should be reconciled with the total number of credits at the end of the credit.

(2) the sum and balance of the account in the general ledger shall be reconciled with the sum of the sum of the subsidiary ledger accounts and the sum of the balances.

(3) the amount and balance of cash journal and bank journal are in line with the sum and balance check of each account in the general ledger.

(4) the amount and balance of all kinds of property and subsidiary ledger accounts in the accounting department are consistent with the amount of the custody of the property and materials concerned and the checking of the balance.

4. accounting check

Checking accounts refers to checking the book balance and the actual number of all kinds of property and materials, so as to ensure the consistency of the accounts.

(1) the amount of cash journal is in line with the actual number of cash in stock.

(2) the balance of bank deposit journal should be checked regularly with the bank account reconciliation.

(3) the amount of the subsidiary ledger accounts for all kinds of property and materials is regularly consistent with the actual quantity check.

(4) the balance of the subsidiary ledger should be regularly or regularly checked with the debtors and creditors concerned.

Checking accounts is usually done through physical inventory.

Reconciliation of 5. accounts

Checking accounts refers to checking the figures in each accounting period's cashier report form (teller's report card, bank deposit balance adjustment table) and other related figures in the account book of the cashier's report form, so as to match the accounts.

6. reconciliation of current accounts

The checking of the records of the accounts of various pactions between this unit and other units.

For example, the balance between the balance of the bank journal and the account book of the bank is checked; the balance of the balance of accounts receivable and payable ledger is checked with each other's records of debts and creditors' units.

By checking, it is necessary to keep records of account books in line with each other.

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