This course outlines the various reconciliations that need to take place between the various financial modules, General Ledger and external data such as the bank statements to ensure the completeness, accuracy and validity of financial information.
Reconciliations are a fundamental element of risk management and accounting control especially around bank, wages, suspense, and assets under construction.
The organization and presentation of reconciliations, working papers, Excel models, and the escalation / approval process will be addressedrocess.
B/S Monthly Reconciliation
Case 1： Salary and Wages Clearing Account Functions
Steps ： Payroll Control account reconciliation policy Model： Staff loan and payroll reimbursement model
Case 2： Annual Leave Liability Reconciliation
Steps ： Annual Leave Provision Policy Model： Annual Provision and On-Cost model
Case 3： Long Service Leave Liability Reconciliation
Steps ： LSL Provision Internal control Procedures Model： LSL Possibility、Seasonality and NPV model
HOW TO CLOSE YOUR BOOK IN 3 DAYS?
Case 4： Insurance & Work Compensation Reconciliation
Steps ： Insurance management & WC Policy Model： Work Compensation Control Model
Case 5： General Ledger Control Accounting Procedures
Steps ： General Ledger Reconciliation Policy & Procedures Model： General Ledger Reconciliation Template
B/S Year End Reconciliation
Case 1： Investment Account Management and Reconciliation