services that they would be able to provide to a potential customer and how it would best serve their business. Citi Bank states that with their, “cash management products, you can collect payments faster, optimize the timing of payments to suppliers, vendors and employees, and stay on top of your accounts and balances more easily.” This is followed by a wealth of information about the different services that are provided under cash management. They have services that include, speed up receivables that
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DELINQUENCY MANAGEMENT What is delinquency, arrears, late payments, overdue, past due, and default? The terms are often used interchangeably but generally arrears, past due and overdue refer to an amount that has not been paid that has become due. Delinquency means: * Is a situation that occurs when loan payments are past due * It occurs when one loan payment is one day late * It refers to the rate of arrears or the fact that a loan is in arrears, e.g. “this loan is delinquent”
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appropriate. You can view all named cells in the Name Manager under the Formulas CS1100 Lab E1 tab. 1. Use formulas to fill in the columns as shown below, including the column for DepNo. Lookup the DATE formula to figure out how to fill in the Payment Date column. You may type in the
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(short-term) or noncurrent (long-term). Companies expect to collect current receivables within a year or during the current operating cycle, whichever is longer. They classify all other receivables as noncurrent. Receivables are further classified in the balance sheet as either trade or nontrade receivables. Customers often owe a company amounts for goods bought or services rendered. A company may subclassify these trade receivables , usually the most significant item it possesses, into accounts receivable
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ACCOUNTS PAYABLE- PROCESS * Invoices relating to Projects and Facility as well as utilities are received at the Head Office (HO). * Accounting for the invoice is done taken into consideration the party on whose behalf will the Head Office be paying. * Head office expenses: * Expenses related to the Head Office, e.g.: Pantry expenses, maintenance of the HO, etc. are booked directly in the books of the Head Office as follows: ACCOUNTS | BUSINESS UNIT CODE | Expense a/c- Debited-Lals
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- Credit | Date | Received from | Explanation | OR# | CI# | Debit | Debit | F | Credit | Credit | Account Title | F | Amount | 6/2 | Eva Perez | Cash sales | | 0008 | 3,325.00 | | | | 3,325.00 | | | | 3 | Phil. Christian House | Down payment | 0028 | | 1,235.00 | | / | 1,235.00 | | | | | 4 | Int’l. Supermarket | In full of acct. | 0029 | | 6,547.50 | 180.80 | / | 6,750.00 | | Output Tax | | (21.70) | 6 | Zen’s Spa | In full of acct. | 0030 | | 9,825.00 | | / | 9,825.00
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Depreciation: A portion of the costs of fixed assets charged against annual revenues over time. The net effect is that depreciation deductions increase a firm’s cash flow because they reduce a firm’s tax bill. Depreciation for tax purposes is determined by using the modified accelerated cost recovery system (MACRS), a system used to determine the depreciation of assets for tax purposes. The time period over which an asset is depreciated is called its depreciable life. The shorter the depreciable
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CHAPTER 1 INTRODUCTION TO TREASURY MANAGEMENT FOR FINANCIAL SERVICES INSTITUTIONS / LIQUIDITY AND CASH MANAGEMENT Treasury Management of Financial services Institutions Definition of Financial Services Financial services refer to economic services provided by the finance industry. The finance industry encompasses a broad range of organizations that manage money, including credit unions, banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment
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QuickBooks (QB). CHAPTER 1: BASIC CONCEPTS IN ACCOUNTING The Two Main Financial Statements The two main end products of accounting are the two financial statements which are presented to investors and creditors outside the business: the Balance Sheet and the Income Statement (which QB calls Profit & Loss). All the other reports you prepare in this course are for internal use by accountants and managers. The Profit & Loss report shows the revenues (QB calls them income) the business earned
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clearing bank account balance will be checked with the bank statement through online • Check & verify the clients available balance for a new trading day • Daily fund management report forward to the management by 10.00 am Fund Settlement with the Stock Exchanges • Collect the report from Stock Exchanges • Reconcile clients transactions with the DSE report • Check and reconcile customer clearing bank account balance
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