Preface
xvii
Chapter 10: Cash Controls
Cash Controls: An Introduction.................................................................................................................... 289
Cash Control Guidelines........................................................................................................................... 290
Cash Transactions.............................................................................................................................................. 292
Debit and Credit Card Transactions..................................................................................................... 293
Bank Reconciliations......................................................................................................................................... 294
Unrecorded Deposits from the Bank Statement............................................................................. 294
Unrecorded Charges from the Bank Statement.............................................................................. 296
Outstanding Deposits............................................................................................................................... 299
Outstanding Cheques............................................................................................................................... 301
Bank Errors.................................................................................................................................................... 302
Ledger Errors................................................................................................................................................ 303
Bank Reconciliation Summary............................................................................................................... 305
Petty Cash............................................................................................................................................................. 309
Setting Up a Petty Cash Fund................................................................................................................. 310
Posting Petty Cash to the General Ledger......................................................................................... 311
Petty Cash Controls.................................................................................................................................... 314
Controls in Business.......................................................................................................................................... 315
Definition of Controls................................................................................................................................ 315
Implementing Controls............................................................................................................................ 315
In Summary.......................................................................................................................................................... 318
Review Exercise.................................................................................................................................................. 319
Chapter 11: Payroll
Payroll Accounting............................................................................................................................................ 325
Gross Pay............................................................................................................................................................... 326
Employee Payroll Deductions....................................................................................................................... 327
Statutory Deductions................................................................................................................................ 327
Voluntary Deductions............................................................................................................................... 329
Employer Payroll Contributions............................................................................................................ 329
Payroll Example.................................................................................................................................................. 330
Paying the Payroll Liabilities................................................................................................................... 333
Payroll Register................................................................................................................................................... 335
Payroll Records............................................................................................................................................ 337
Payroll Controls................................................................................................................................................... 338
In Summary.......................................................................................................................................................... 339
Review Exercise.................................................................................................................................................. 340
