Cash is one of the most important assets of any business. Therefore, the cash management efficiency is an essential requirement for every business. In this article Accnet will work with you to learn about cash accounting, includes the basic concepts, tasks, principles, and implementation process. Here is the important knowledge help you to understand more about the management of cash and effectively applied in practice.
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1. Cash accounting is what?
Fund accounting, cash is an important work in the accounting system of the business, responsible for tracking and managing the activities to collect and pay cash at the foundation of the business. The implementation of cash management efficiently helps business to manage cash flow better, ensure solvency and sustainable development.
2. The basic task of accounting for cash
The below task of accounting cash resources will help ensure that businesses have the ability to manage finances efficiently, minimize risks to meet payment obligations:
- Catch full and timely with the provisions of the law related to the monetary circulation of The country. At the same time require the executive to take seriously the mode management such as: inventory Management, cash and implementation of processes related to the procedure of import - export fund under the regulations of the treasury.
- For cash accountingto monitor and control the code, fund code account accounting code and The state treasury is impossible to ignore. Ensure that accounting process is done correctly and reliably.
- The monitor revenues and expenditures of The state treasury is very important to timely reflect the amount of reserve fund cash in ledger. This helps to ensure that accounting information joints with actual spending at the treasury, as well as the balance amount that the treasury was deposited in the bank is fully updated and accurate.
3. Accounting principles, cash, according to circular 200
Under the provisions of Article 11 in circular no. 200/2014/TT-BTCprinciples of accounting amount is determined as follows:
- Open daily accounting: Business accounting implementation of the open ledger and daily records in the order incurred revenues and expenditures, export, import, money, currency. This includes the number exists in the fund and the funds in the bank at any time, convenient for the inspection process and collate.
- Management and accounting of the client's money and personal: The funds that business management and is escrow, sign on by other businesses and individuals will be managed and accounted for as cash of the business.
- Stock from when revenues and expenditures: When the transaction revenue and expenditure, need to have receipts, voucher and enough signatures according to the regulations of the mode of accounting vouchers.
- Track details follow the currency: cash accounting must track down details of money by each unit of raw currency. When there are transactions in foreign currency, the accountant must perform conversion of foreign currency to Vietnamese Dong according to the principle:
+ The Debtor s accounts of money is applied rates, the actual transaction.
+ Sides Have the cash account is applied rates carrying weighted average.
- Reviews the balance of foreign currency and gold currency: At the time of preparing financial statements under the provisions of the law, businesses must re-evaluate the balance of foreign currency and currency according to the exchange rate on the actual transactions.
4. Accounting procedures cash fund new updates 2023
Process cash accounting made in detail the steps to ensure all transactions related to money are recorded and managed correctly.
2 process management, accounting, cash flow, most popular:
- Accounting of cash.
- Accounting and cash expenditures.
4.1. Accounting procedures cash receipts
In the process of accounting of cash transactions is follow the steps detailed below:
- Step 1: the Customer making the request to pay and transfer to The accounting department for payment.
- Step 2: parts cash accounting payment create receipts (includes 3 copies), fill necessary information and transfer to the Chief accountant.
- Step 3: Chief accountant signed receipt & returned to The accounting department for payment.
- Step 4: Customer send the receipt to the cashier, at the same time pay and sign the receipt.
- Step 5: the treasurer receiving receipts, collect money and start recording on Windows funds. Then, the cashier keep a copy receipt (link 2), returns contact 3 for customers who pay and related 1 to The accounting department for payment.
- Step 6: accounting department billing conduct store vouchers and recorded in the cash (Applied account 111).
With 3 copies of receipts will have a copy stored in office, a copy is kept by the payer. In the case of payment not belonging to the company, this is considered evidence submitted money. For employees the company is the payer, this copy will be delivered to The accounting department to do proof of work have paid in accordance receipts.
Remaining copies will be the cashier kept to record into the Window fund. The end of the day, all the receipts along with the original documents are aggregated and delivered to The accounting department processing. Then, the receipts are stored throughout the year and end of the year will be transferred over long-term storage.
4.2. Accounting process and pay cash
In the process of management - accounting, cash expenditures, more votes played an important role to determine the number of actual cash need and is fundamental to the cashier made the spend money on. Payment receipt is also used to register the fund and transfer the information to the department cash accounting to write to the ledger, helping to ensure clarity and transparency in the process of spending money.
Below is the process of accounting cash expenses, the most detailed:
- Step 1: request Users to spend money establishment request payment, or request an advance and transfer sent to the accounting department for payment.
- Step 2: accounting department billing create payment receipt based on the information from paper proposal and send the payment receipt up chief accountant.
- Step 3: chief accountant to check the rationality of information on the Coupon details. If there are errors or not-logical information, payment receipt will be returned to the accounting department for payment to adjust. In the case of the right information, chief accountant transfer payment receipt up to the director or Person authorized to sign the browser.
- Step 4: director review and signed approval payment, then return it to the accounting department for payment.
- Step 5: The accounting department for payment receipt payment receipt has been approved and transferred over to the cashier.
- Step 6: the cashier and pay for The request, require The recipient to sign the certificate on the payment receipt to verify the receipt of money.
- Step 7: After spending money, cashiers record information on windows funds (retained copy link 2) & shipping payment receipt, original (contact 1) to the accounting department for payment to register, cash (Applied account 111).
Note: If any parts refusal to browse spending money, the accounting department of payments will report back to The requester for further processing.
5. Cash accounting easy with software AccNet Cloud
AccNet Cloud là một ứng dụng kế toán online hàng đầu được phát triển để đáp ứng đầy đủ các nhu cầu của doanh nghiệp, đặc biệt là trong lĩnh vực quản lý tiền mặt. Được tích hợp trên nền tảng đám mây, AccNet Cloud mang lại sự thuận lợi về quản lý và tạo ra môi trường làm việc linh hoạt, mà bạn có thể truy cập mọi nơi, mọi lúc.
ACCOUNTING SOLUTIONS SMART ACCNET CLOUD HKD
AccNet Cloud HKD designed specifically to meet the accounting needs of the business. With modern technology, user-friendly interface software that helps optimize the operation accounting. The outstanding benefits of AccNet Cloud HKD includes:
- Reduce errors, save time
- Automatic accounting and synthetic data
- Help control cash flow efficiency
- All revenues and expenditures are recorded accurately
- Creation support tax reporting, financial reporting detail
- To comply with the legal regulations
- Use on any device with internet connection
- Financial management is not interrupted
AccNet Cloud HKD the is a strategic partner in the journey leading small business, business to succeed. Select Vietnam - Choose the superior option difference.
Software AccNet Cloud fully supports the accounting and cash management, including:
- Collect the cash.
- Cash expenditures.
- Inventory and cash funds.
In addition, the software AccNet Cloud also has a number of features preeminent other, help businesses manage cash resources more efficiently, including:
- Automation of accounting help accounting department save time and effort.
- Support reporting cash accounting according to the requirements of the business.
- Software AccNet Cloud is security according to international standard, helping business peace of mind about the security of the data.
With the above advantages, AccNet Cloud not only is a product accounting software but also as a reliable partner in the management of cash in a most effective way. Whether you are a business owner, accountant or financial manager, AccNet Cloud will be the effective support tool to help optimize the process of accounting, cash flow, and enhance job performance.
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Article on Vietnam have provided you with the basic knowledge about cash accounting. Here is the important knowledge help you better understand accounting and effectively applied in practice. Hope this information will help you manage your accounting and cash resources of the business more efficiently, ensuring the solvency and sustainability.
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