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Petty cash procedure

Accounting Tools

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash How to Fund Petty Cash When cash is added to a petty cash fund, the basic concept is to replace the amount of any cash that had previously been disbursed from the fund.

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Petty cash box usage issues

Accounting Tools

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash A petty cash box is a receptacle in which petty cash bills, coins, and receipts are stored. They are well-organized for petty cash audits. Multiple keys.

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Full charge bookkeeper definition

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is a Full Charge Bookkeeper? A full-charge bookkeeper is the same as a bookkeeper , except that the "full charge" part of the title designates the person as being solely responsible for accounting.

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Types of transaction cycles in accounting

Accounting Tools

A key role of the accountant is to design an appropriate set of procedures, forms, and integrated controls for each of these transaction cycles, to mitigate the opportunities for fraud and ensure that transactions are processed in as reliable and consistent a manner as possible. We explore the nature of these transaction cycles below.

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Examples of key journal entries

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook Journal entries are used to record business transactions. When specific bad debts are identified, you then debit the allowance for doubtful accounts and credit the accounts receivable account. Example Expense Journal Entries Accounts payable entry.

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Payables clerk job description

Accounting Tools

Must be detail oriented and comfortable using computer-based accounting systems.

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Three digit chart of accounts

Accounting Tools

Related Courses Bookkeeping Guidebook New Controller Guidebook A three digit chart of accounts allows a business to create a numerical sequence of accounts that can contain as many as 1,000 potential accounts.