CASH ACCOUNTING OF THE ORGANIZATION
1. Cash accounting tasks
2. Accounting for cash transactions
3. Accounting for funds on the settlement accounts of the organization
4. Accounting for transactions on special bank accounts
To conduct economic activities, each enterprise must have working capital in the required amount. In the composition of working capital, an important place is occupied by cash. They are necessary for the acquisition of stocks, wages, for payments to the budget and off-budget funds. Cash is used at all stages of the circulation of funds.
At the first stage, the enterprise acquires materials at the expense of spending money. At stage 2, payments are made in the form of money in the sphere of production.
At stage 3, the products obtained from production are sold and the company receives payment in cash.
Since the circulation occurs continuously, the enterprise’s funds are simultaneously at all stages of the circulation, therefore, the enterprise must always have a stock of working capital, including in cash.
The funds of the enterprise can be in the form of cash on hand, kept in a bank, and other forms.
The main channels of receipt of funds include: proceeds from the sale of products (works, services); income received from the sale of fixed assets and other assets (inventory); rent; state aid, etc.
Cash disposal channels: purchase of material assets, payment of wages and dividends, acquisition of fixed assets, payment of taxes.
The main tasks of cash accounting are:
– timely and correct documentation of cash flow operations;
– systematization of data on the balances and movement of cash resources on the accounts of accounting;
– timely and accurate reflection of information on the availability and movement of funds in the reporting of the organization.
Accounting for cash transactions
To receive, store and spend cash in organizations, cash desks are used. They are necessary for carrying out cash settlements on wages, with accountable persons, and paying dividends. The rules for storing, receiving and dispensing cash in the Russian Federation are regulated by the Procedure for Conducting Cash Operations in the Russian Federation and other regulatory documents.
The cash register must be located in an isolated room; equipped with a safe; equipped with bars on the windows, security and fire alarms; have double doors and a special window for issuing money. Access of unauthorized persons to the cash register is prohibited. Keeping cash and other valuables that do not belong to this organization at the cash desk is prohibited.
All operations for receiving and issuing money at the cash desk are carried out by a financially responsible person – the cashier. With him is an agreement on full liability.
In the event of illness of the cashier, the funds under his responsibility are transferred to another employee (after their recalculation and the appropriate documentation of the transfer act).
Cash can be kept at the cash desk within the limit set by the bank. Exceeding the limit is allowed within three working days when paying wages.
Cash is accepted at the cash desk according to the incoming cash order. The document is signed by the chief accountant. The fact of delivery of funds to the cashier is confirmed by the signature of the cashier. The person who handed over the cash is issued a tear-off coupon (receipt).
A checkbook is used to receive cash from a current account.
The issuance of cash from the cash desk is drawn up by an account cash warrant . The document is signed by the head and chief accountant. The cashier issues money only upon presentation of a document proving the identity of the recipient.
Wages, allowances, bonuses are paid by the cashier on payrolls .
To transfer overlimit cash to the current account , an announcement for a cash contribution is filled out, which is issued in one copy and consists of three parts: an announcement, an order and a receipt.
No erasures, blots or corrections in primary cash documents are allowed. All incoming and outgoing cash orders, before being transferred to the cash desk, are registered by the accounting department in the register of incoming and outgoing cash documents (form No. KO-3).
The cashier must keep a record of funds in the cash book . The balance of money at the cash desk at the beginning of the day is recorded in it daily, then the receipt and disposal of funds during the day are recorded on the basis of cash orders indicating the document number, from whom and for what they were issued, to whom they were issued. In the column of income – receipt, in the column of expenditure – the issuance of funds.
The cash book is filled in 2 copies. At the end of the day, the totals for receipts and expenditures and the balance of money in the cash register at the end of the day are calculated. The tear-off part of the cash book is submitted to the accounting department in the form of a cashier’s report .
In the accounting department, the report is checked, the correspondence is signed in the primary documents and the report.
In the conditions of accounting automation, registration of incoming and outgoing cash documents, compiling a cash book and generating a cashier’s report is carried out automatically.
In the chart of accounts, for accounting for cash, account 50 “Cashier” is provided – active.
For debit – amounts received in cash at the cash desk, and for credit – amounts issued in cash.
Scheme of entries on account 50 “Cashier”
|Dt Account 50 Kt|
|Balance – the balance of money at the beginning of the period||Withdrawing money from the cash register|
|Receipt of money in the cashier|
|Balance – the balance of money at the end of the period|
The following sub-accounts can be opened for this account:
50-1 “Cash desk of the organization”;
50-2 “Operating cash desk”;
50-3 “Money documents”.
On sub-account 1 “Cash desk of the organization” the funds held in the cash desk of the organization are taken into account.
Sub-account 2 “Operating cash desk” is used to account for the availability and movement of funds in operating cash desks that are located outside the premises of the organization’s cash desk (shops, outlets on the market, canteens, buffets).
On sub-account 3 “Money documents”, postage stamps, paid travel documents, paid vouchers, fuel cards and other monetary documents are taken into account at the cash desk of the organization.
The receipt of funds at the cash desk from the current account is reflected in correspondence 50-51
Revenue received from customers 50-62
Return of unused balance of imprest amounts 50-71
Transfer of funds to the settlement account 51-50
Issuance of wages 70-50
Cash withdrawal account 71-50
Reflection of the identified shortage at the cash desk 94-50
Synthetic accounting for account 50 “Cashier” is kept in the order journal No. 1, where credit turnover is accumulated on account 50 in correspondence with debited accounts. The basis for filling out the journal-order No. 1 is the cashier’s reports.
With an automated form of accounting, the formation of registers occurs automatically as cash transactions are reflected in primary documents and business transactions are performed.