What Are the Steps for Checkbook Reconciliation?

In the computerized accounting environment, the system provides an automatic reconciliation function, that is, the system checks one by one according to the reconciliation conditions set by the user, and checks the records that have reached the reconciliation standards. . The conditions for automatic reconciliation by the system generally include the date when the business occurred, the settlement type, the settlement ticket number, and the same amount. Among them, the same amount of occurrence is the basic condition of the account. For other conditions, the user can customize the selection according to needs. ^[1]

Reconciliation

Reconciliation is the reconciliation of accounts.

Reconciliation of balances in general ledger related accounts

The total debit end balance of each general ledger account and the credit end total balance should be reconciled;

Reconciliation of general ledger and subordinate ledger

The debit and credit of the general ledger and the balance at the end of the period should be reconciled with the sum of the debit and credit of the subordinate ledger and the balance at the end of the period;

Reconciliation of general ledger books and timing books

The cash journal and bank deposit journal ending balances should be consistent with the check of the general ledger's inventory cash and bank deposit ending balances;

Reconciliation between detailed ledger books

The classification of property and material details of the accounting department, the closing balance of the accounting period and the closing balance of the relevant property and material detailed classification account of the property storage and use department should be checked to match.

Reconciliation refers to reconciliation of accounts. In order to ensure that the books and records are true, correct and reliable,

Reconciliation skills

Before reconciliation, the accounting department of the financial department shall conduct a preliminary review of the reconciliation information provided by the supplier, and the reconciliation information that does not meet the conditions shall require the supplier to complete it. First check the reconciliation procedures, whether they have been approved by the authorized person, and then check the following:

1. Reconciliation information that only provides balance and no detailed accounts will not be reconciled.

The supplier must provide all the account information since the last reconciliation; if the reconciliation has never been performed before, all the account information since the beginning of business transactions between the two parties must be provided. If the other party requests the verification of the book balance due to the audit of financial accounts, the same shall be applied in accordance with the above principles.

2. Reconciliation will not be provided for suppliers who provide reconciliation information directly based on the transaction information of their sales department instead of the accounts of the financial department.

The accounts reconciled by the two parties should be mainly financial accounts. The accounts of the supplier's sales department may be inconsistent with the accounts of the financial department. There are problems with the reconciliation base, which will cause unnecessary troubles to the subsequent settlement of the two parties, because the final settlement is based on the financial accounts of both parties .

3. For suppliers who have not had business transactions for many years, even if they have been approved by the company's authorized persons, the supplier's reconciliation information must be stamped with the supplier's official seal (or financial seal), or the official seal must be provided. Letter of introduction, otherwise it will not be reconciled.

Because the supplier has no business relationship for many years, we do not know much about its situation in a certain period of time. The original enterprise may have been disintegrated and restructured. Reconciliation in a certain period of time and subsequent collections may be personal behaviors and do not represent the original enterprise. , The reconciler may not have the right to claim compensation.

4. For suppliers with complete reconciliation procedures and account information, they should reconcile in time and issue a statement.

5. Some suppliers belong to small enterprises or individual industrial and commercial households, and the accounting information is not complete. It is likely that the previous year's accounting information is missing. How to deal with this situation?

If the two parties continue to cooperate in the future, a reserved statement should be issued on the existing information, at least for the year with complete accounts, which will cause historical problems. What is a "reserved statement"? It is to add a description paragraph to the statement, explaining that due to the incomplete accounting provided by the supplier, the two parties only reconciled the account information since a certain month and a certain year. The previous year's accounts were not reconciled. Statements are allowed to be issued, and the purchasing company reserves the right to further adjust the accounts based on the evidence.

If the supplier's account is incomplete and the balance between the two parties does not match, then the supplier usually agrees to temporarily issue a statement based on the smaller balance between the two parties. If the purchase company's balance is small, there is no need to adjust the book balance of the payables; The supplier's balance is small, the procuring enterprise must reduce the book balance of payables and confirm the income (debt restructuring) with the statement. At this time, the supplier must sign the statement and affix the official seal at the same time.

6. If the invoice is lost and cannot be confirmed as the responsibility of the purchasing company, the purchasing company cannot confirm the debt on the statement, and the supplier should be required to reduce the debt.

7. If the financial department of the purchasing company adopts manual accounting, the most difficult thing to find is the mismatch. The other party entered the account, and we did not enter it on the account. It is likely that the wrong account was placed, but it is very difficult to check the cross-account from the manual account. For those who use financial software, it is very easy to find the cross-account on the financial software. There is no such amount.

8. To facilitate the reconciliation, the supplier shall be required to bring the current statement or a copy of it for the next reconciliation.

Adjust accounts

1. Accounts must be adjusted in a timely manner after reconciliation. If the outstanding account formed by the reconciliation is posted on the reconciliation statement for a long period of time, you will need to re-verify if you want to adjust the account later, otherwise you will not know how to handle the account; in addition, not adjusting the account will affect the true balance of the company's payables. .

If the adjustment of the account requires the supplier to provide a copy, the supplier shall be required to cooperate; for the small amount of the outstanding account, the processing can be simplified, and the account processing is based on the statement and the company's self-made instructions as attachments to the accounting vouchers.

2. If the supplier needs to adjust the account, the purchasing enterprise shall also supervise and assist the supplier to adjust the account in a timely manner. Because if the supplier does not adjust the account in a timely manner, it will also affect the true balance of its debt receivables.

Custody statement

1. Each year, the reconciliation statement is bound into a book according to the reconciliation order. The reconciliation information provided by the supplier is attached to the reconciliation statement and the reconciliation single is bound and stored. The reconciliation list directory (including the supplier's region, supply Information such as business name, reconciliation date, etc.) and indicate the year to which the reconciliation statement belongs and the bound accounting name; the bound reconciliation statement shall be managed in accordance with the storage requirements of the accounting file.

2. When the accounting position of accounts payable changes, the account statement on hand should also be well transferred, and it should be specified on the transfer list of accounting positions.

Accounting wrong account processing method

In actual work, we often have problems with accounting errors. So, what are the ways to deal with accounting errors?

The division of the second method is an error in bookkeeping. The debit or creditor has the opposite direction, or the red and blue words are reversed. There is a specific rule for this wrong account method. The number of wrong accounts is even, and the difference will be Divide the number of wrong accounts by two. This is how the method of checking accounts is divided by two. This is one of the most common methods of checking for wrong accounts.

Dividing the nine methods is also a common problem in the bookkeeping process, especially when two numbers are reversed, or three numbers are reversed, and the number is shifted. This number is an integer multiple of nine, which is what we call division by nine.

The difference method is a method of searching according to the difference of the wrong account, which is mainly used for accounts that are missed or re-recorded.

The pictograph method is the most common type of mismatch that is encountered when checking accounts. It may be a few cents and is very troublesome. The figures of this kind of mismatch account are imaginary and are prone to errors. This is the pictograph method.

The root tracing method is because the error has been checked for a long time. If no error is found, it is balance. In this case, the root tracing method is used to check the carry-over number of the previous period to check the errors. It is often the source problem.

For the parent-child method , this is the problem of checking the inconsistency between the detailed ledger and the general ledger account. It is mainly used in a method that cannot be found. The numbers add up to the mother, and if they do nt, there is something wrong. There must be something wrong.

There are also the method of optimizing , optimizing , preventing errors , and correcting errors . We wo nt talk about them here, and we will introduce them in the following learning process.