Inventory of funds

Inventory of funds means checking the compliance of available money and the amount that is indicated in the reporting. Such reconciliation is carried out at the enterprise regularly, the periodicity is determined by the head of the organization and fixed in its accounting policy.

Inventory of cash on hand makes it obligatory for the cashier to stop issuing money and accepting payment documents during the reconciliation. In addition, the cashier bears personal responsibility for the safety of banknotes and the correctness of maintaining all documentation. The company cashier has no right to keep personal things in the workplace, especially money. Any amount of surplus is taken by the inventory commission and can not be returned. The materially responsible person must be informed about this when taking office.

The inventory of funds is carried out by a specially organized inventory commission on the basis of the order of the head of the enterprise. This commission includes the chief accountant, the chairman of the enterprise administration, and of course, the financially responsible person. If necessary, the commission includes independent audit firms that control the impartiality and correctness of the procedure. As a result, the inventory inspection certificate is filled.

Prior to the reconciliation, the cashier must draw up the last cash report, then write a receipt stating that all payment documents have been submitted to the commission with the fulfillment of the rules. Only after the formalities are complied with, the inventory commission begins to check the documents. First of all, the completed documents with established samples are checked and the accuracy of filling the main registers is controlled. Particular attention is paid to the cash book, since all entries in it must be justified by the primary documentation. In addition to the fact that the book must be properly framed, it must have a proper appearance, that is, the presence of a seal, all necessary signatures, lacing and page numbering is checked .

At the cash desk of each enterprise there is a cash limit, exceeding which is allowed only in the case of the issuance of wages, travel allowances, allowances and scholarships. The amount exceeding the limit indicated by the serving bank may be in the cash desk only with documents confirming its expediency and for a period not exceeding three days. After checking the documentation and if the cashier follows the rules of its maintenance, the cash is translated.

Methodology for conducting audit of funds

All banknotes are recalculated on a pay-as-you-go basis. As a rule, the amount in the cash department is considerable, so the commission is obliged to draw up an inventory to fix the amount of notes of each denomination. In this document, as well as in the inventory act, all the participants in the audit must sign. Based on the result of the recalculation, it is possible to judge whether there is an excess amount or its lack. Information on this matter is indicated in the act with the signature of the financially responsible person.

The cashier is obliged to explain in writing all the violations revealed and hand over the commission's report. When the inventory of funds is completed, a final certificate is prepared with a detailed description of the results. It is usually filled in several copies, because one is handed to the financially responsible person as evidence in case of disagreement with the commission, and the other is sent to the accounts department. The commission must report to the head about the work carried out and its outcome.

Inventory of funds should be carried out at each withdrawal from the position of the cashier and replacement by another employee. In this case, the act on the results of the audit is compiled in triplicate. One is given to the cashier, the second applicant for his place, that is, the replacement employee, and the third, as expected, is sent to the accounts department.