Accounting for settlements with accountable persons
Accounting for settlements with accountable persons is part of accounting for settlement transactions with personnel.
The essence of accounting for settlements with accountable persons is to control the flow of funds issued in the sub-account for travel, administrative and business expenses. The accounting department records how employees reported for the amounts received, in what time frame and to what extent. The dates of entries in the accounting documentation must correspond to the attached forms confirming the fact of expenses incurred.
By outsourcing the accounting and auditing service for settlements with accountable persons, Daxiko specialists strictly control all settlements with employees. Registration and reconciliation of the amounts issued or received is carried out accurately, on time and in full.
Principles of issuing accountable amounts
Accountable amounts are the funds needed by an employee of an organization to perform a particular task assigned by management. Depending on the situation, this can be both financial compensation for travel expenses and funds allocated for the purchase of materials (stationery, gasoline, machinery and other household expenses).
There is a list of principles that must be taken into account when making transactions with accountable amounts:
Money can only be given to employees of the organization specified in the management’s order;
Only a certain employee has the right to issue cash to a sub-account;
It is mandatory to indicate the maximum amounts that cannot be exceeded;
The employee has the right to receive a new amount only after he has fully reported for the previous one;
When conducting accountable calculations and drawing up documents, all rules and deadlines established by law must be observed.
In order to receive funds, the employee is obliged to write an application for issuance, which specifies the goals and amounts of expenditure.
Types and forms of settlements with accountable persons
Accountable persons are employees who have the right to receive funds for constant spending in the amount determined by the head himself. The circle of accountable persons is established by an internal order of the organization once a year.
The reporting of these persons to the company takes place according to the forms of advance reports, to which receipts, certificates and tickets confirming the expenses incurred are attached.
Funds can be disbursed from the cash register in cash, on the basis of a cash receipt. It is also possible to transfer from the company’s current account to the employee’s bank card, in non-cash form. The timing of the submission of the advance report is chosen by the management of the organization.
Accounting of settlements with accountable persons in “Daxiko Company”
When outsourcing accounting of settlement transactions with financially responsible persons, the specialists of Daxiko Company draw up exclusively the documentation that is established by law.
We carry out the function of monitoring and verifying the accounting of funds in stages:
We are taking inventory;
Calculating the leftovers;
We check the correctness and completeness of the preparation of advance reports;
We output the remainder and compare it with the remainder specified in the documentation;
We provide the results to the management of the organization.
This system of work allows you to competently organize the accounting of settlements with accountable persons. We have the opportunity to carry out reconciliation, analysis, and calculation of accountable amounts in the most detailed and high-quality way so as not to miss the slightest detail.