Cheque deposits: Ensure that as soon as you receive a cheque, you enter these in the books and deposit the same as soon as possible if the received amount is in order – preferably the same day or keep a day to deposit all the cheques – preferably two days in a week – as per t...
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ngoporta 02/09/2014
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Cheque preparation and safety methods for payments: Who the cheque signatories : In an organisation mostly the cheques are signed by more than one person (Joint Account). This is done to ensure the safety and transparency. Who keeps the cheque books: &n...
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ngoportal 02/09/2014
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A Fiscal Year is a period in which an organisation plans to uses its fund in a 12 month period.This period may be a calendar year but can be any 12-month period. A fiscal year accounting period should coincide with the operating cycle of the organization. Common fiscal years end at the end of June o...
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NGOportal
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There are two methods of Accounting. A) Cash b) Accrual Cash Based Accounting: Entries are made in the books only when inflow or outflow or payment in cash takes place. In cash system income is accounted for when cash is actually received and expenses are accunted for when cash is actuall...
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ngoportal
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Accounting: Language of the Business. To define Accounting: “ the Process of identifying, measuring, and communicating economic information to permit informed judgments and decisions by users of the information: a) It is an art of recording and classifying business transactions. &nb...
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ngoportal
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