Banking Accounting SAP ERP Solutions For Apparel and Footwear

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Process Banking Accounting :

1. Receive and double check payment documents.

Collect contracts, payment requests, and tax documents: banking accountant receive those documents from receivable/payable accountants

2. Collect payroll sheets

  • Factory salary accountants are in charge of preparing payroll sheets for themselves. Payroll sheets are separated for cash payment as well as deposit ATM accounts
  • Payroll sheets with cash payment will be passed to banking accountant by cash accountant
  • Payroll sheets with ATM accounts deposit will be passed to banking accountant by human resource department

Categorize documents: accountant reviews the documents and divides them into 2 payment categories

  • Payment from cash in bank account à prepare payment order notes
  • Loan for paymentà prepare loan documents

Cash in bank accounting in sap erp

3. Monitoring payment schedule:

Payment schedule is updated in excel file including date of deposit from bank, partial payment terms.

4.Create payment order note:

Payment order note is prepared with 2 signatures of Deputy General Director and Deputy/Chief Accountant. If the Deputy/Chief Accountant has approved the payment request, he is not allowed to sign payment order note

5. Place payment order through the bank

6. Book credit/debit entries for bank transactions

  • Currently, bank statement is daily collected from banks to update data into Foxpro program
  • Accounting was booked into detail for each incurred data.
  • Reconcile data of cash receipt in bank with account receivable
  • Reconcile data of cash payment via bank with account payable, tax, advance
  • Reconcile data with bank at the end of month

7.Prepare cash in bank report

8.Reconcile data

  • Reconcile data of cash receipt in bank with account receivable
  • Reconcile data of cash payment via bank with account payable, tax, advance
  • Reconcile data with bank at the end of month

9. Daily reconcile data with bank statement.

Prepare cash movement in bank report, Transfer data to general accountant.

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