ASCOTT雅诗阁酒店公寓品牌财务部门政策与程序APP I06 (Accounts Reconciliation)

1、TAG Policy & ProceduresDepartment: FinanceSection:APP I06Topic: Accounting SystemDate Created:Apr 2001Revised:Feb 2007 (Ver 2)Page:Page 4 of 4I06 ACCOUNTS RECONCILIATION1. OBJECTIVE1.1Reconciliation to major balance sheet accounts must be done to ensure:§ general ledger accounts are validly

2、 supported by agree with subsidiary ledgers or accounts§ 1.2 all discrepancies are promptly identified, and appropriate accounting adjustments made to rectify the accounts.§ 1.3 accuracy and timeliness of our financial reporting and avoid major surprises or large single-month adjustments2.

3、 POLICIES2.1 Reconciliation must follow the format guidelines and prepared on monthly basis.2.2 Reconciliation must be made available for audit purposes and submission to corporate finance upon request.3. PROCEDURES3.1 The following are the minimum requirement for reconciliation of accounts:Assets:

4、Liabilities:Fixed Assets Accounts Payable Investments Security Deposit and Advance RentalAccounts Receivable Loans and Bank OverdraftDeposits, prepayments and other debtors Hire Purchase Creditors Inventories Other Creditors and AccrualsInter-company balancesCash and bank reconciliationFixed Deposit

5、3.2 Reconciliation Format3.2.1 Fixed AssetsA fixed assets register must be kept, detailing the cost, accumulated depreciation, current year / period depreciation charges and net book value of all fixed assets by major category / classification. The summary totals for each of these classifications in

6、 the fixed asset register must be reconciled to fixed asset accounts in GL. See Attachment I1 Fixed Assets Summary3.2.2InvestmentsItemise all investments quoted and unquoted, as well as interest in subsidiaries and reconcile the summary total to the balance in GL. See Attachment I2 Investments Summa

7、ry3.2.3 Accounts Receivable(a) Reconcile the accounts receivable balance in the GL to the summary total from the sub ledgers (aging listing). Aging listing can be generated from the computerised accounting system that shall clearly detail the name of trade debtors, total sum owing to us and the age

8、of debts.See Attachment I3 Accounts Receivable Reconciliation(b) In a HIS environment where the AR module in the PMS is being used, the AR sub-ledgers can be referred to in the Hotel Ledger report and should be reconciled to the AR control balance in the GL. Format similar with Attachment I3 as abov

9、e.(c) In the event PMS is not interfaced with the accounting system, a separate reconciliation of accounts receivable between the two systems is also requiredSee Attachment I5 Accounts Receivable Reconciliation between FIDELIO and ACCPAC(d) Any discrepancies must be explained and all necessary adjus

10、tments must be done within the same month(e) Unpresented credit card settlement forms part of Accounts Receivable that may not be accounted for in the ACCPAC-AR or PMS-AR but by way of control account in the GL. As such a separate tracking report is vital for completeness and accountability. See Att

11、achment I4 Credit Cards Transactions Tracking Report3.2.4 Other Debtors, Deposits and Prepayments (a) Other Debtors are non-trade debtors owing the company such as staff advance. Money paid to third party and refundable nature when service ceased are normally termed deposits. Examples are security d

12、eposit for utilities company / authorities. Prepaid expenses where services accrue over more than one accounting period are termed prepayments.(b) A detailed list of these items showing the name of organisation / individual paid to, its purpose, the amounts and the accrued period (if applicable) sha

13、ll be prepared and reconciled to the GL balancesSee Attachment I6 & I6a Other Debtors, Deposits and Prepayments Summary(c) Any differences must be rectified within the same month3.2.5 Inventories (where applicable)(a) Monthly reconciliation for inventory balance in GL and the respective store re

14、ports must be carried out to identify any discrepancies for immediate action.(b) Any discrepancies must be rectified immediate and necessary adjustments to GL must be done within the same monthSe Attachment I7 Inventory Reconciliation Report3.2.6 Inter-Company BalancesInter-company balance shall be

15、reconciled in the same manner as accounts receivable. See Attachment I8 Inter-Company Balance Reconciliation3.2.7 Cash and Bank Balances(a) Reconciliation for bank statement balance to bank balance in GL must be done for all accounts on a monthly basis by 10th of the following month.(b) Any discrepa

16、ncies must be clearly explained and necessary adjustments must be done within the same monthSee Attachment I9 Bank Reconciliation(c) Cash in hand records must also be reconciled to cash balance in GL and differences clearly explained3.2.8 Fixed DepositsItemise all fixed deposit balances and reconcil

17、e to the summary total balance in GL. See Attachment I10 Fixed Deposits Summary3.2.9 Accounts PayableAccounts payable may be reconciled in the same manner as Accounts Receivable.3.2.10 Security Deposits and Advance Rental(a) Listing of guests security deposit and advance rental must be tracked on a

18、monthly basis and reconciled to the GL balance(b) Any discrepancies must be promptly rectified and explainedSee Attachment I113.2.11 Loans and Bank OverdraftLoans and bank overdraft accounts may be reconciled in the same manner as bank reconciliation as procedures listed above.3.2.12 Hire Purchase C

19、reditors(a) List of all hire purchase outstanding must be summarised and reconciled to the GL balance and verify to monthly statements from hire purchase companies.(b) Any difference should be clearly explained and cleared within the same month. See Attachment I12 Hire Purchase Summary3.2.13 Other Creditors and Accruals(a) Other Creditors must be summarised with name, nature of accounts and amount owing by us. Accruals listing must clearly indicate the