For the setup of cash accounts and bank accounts, the details are as follows:
The cash account is an account used in enterprise accounting to account for the increase, decrease, change and balance of cash in hand. In order to ensure the accuracy and standardization of cash accounts, the following setup methods and usage rules need to be followed:
1.Here's how to set it up
a.First-level account: Usually set to Cash on hand or Cash.
b.Detailed Accounts: You can set detailed accounts such as "RMB" and "Foreign Currency" as needed to distinguish cash in different currencies.
2.The rules of use are:
When cash inflows, the account is debited;When cash outflows, the account is credited.
At the end of each day, the total cash receipts, cash expenditures and balances of the day should be calculated, and the balances should be checked with the actual inventory to achieve daily clearing and monthly settlement.
Bank accounts are used to account for various deposits deposited by a business with banks or other financial institutions. Similar to cash accounts, the setup of bank accounts also needs to be carefully considered, and the following are the relevant methods and rules:
1.How to set it up
a.Level 1 Account: Usually set to "Bank Deposit".
b.Detailed Accounts: Set up "Bank Deposit Journal" according to the bank where the account is opened, other financial institutions, and the type of deposit.
2.Terms of Use
When a business deposits money with a bank or other financial institution, it is debited to the account;When money is withdrawn and disbursed from a bank or other financial institution, it is credited to this account.
The "Bank Deposit Journal" should be reconciled with the "Bank Statement" on a regular basis, at least once a month. If there is any difference between the book balance of the enterprise's bank deposit and the balance of the bank statement, the "Bank Deposit Balance Reconciliation Table" shall be prepared to reconcile the balance.
There are also four things to keep in mind when setting up and using cash accounts and bank accounts:
1.Rationality of the subject setupWhen setting up cash and bank accounts, make sure they match the actual business scenarios and financial needs of the enterprise.
2.Normativity of the use of subjectsIn the daily accounting processing, the relevant accounts should be used in strict accordance with the account setting specifications to avoid mixing or misuse.
3.Regular checks and adjustmentsCash and bank deposits should be reconciled regularly to ensure that the accounts are in line with the facts. If discrepancies are found, the cause should be identified and adjusted in a timely manner.
4.Internal Control and OversightEnterprises should establish a sound internal control and supervision mechanism to ensure the safety and integrity of cash and bank deposits.
In short, the rational setting and use of cash accounts and bank accounts is one of the basic tasks of enterprise financial management. By following the above methods and rules, and flexibly applying them in combination with the actual situation of the enterprise, the accuracy and standardization of the financial data of the enterprise can be ensured, and then the healthy and stable development of the enterprise can be provided with strong support.