The owner of DTails Dog Wash and Spa just hired an office manager to handle...
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Accounting
The owner of DTails Dog Wash and Spa just hired an office manager to handle all the office functions for him. Among other responsibilities, the office manager will handle key accounting functions such as processing customer payments, writing cheques to employees to pay the payroll, handle daily bank deposits at the bank, pay suppliers, and reconcile the company bank account bank reconciliations. What internal cash control practice is being overlooked by the owner? Frequent preparation of bank reconciliations. Ensuring all cash disbursements are tracked by making payments by cheque. Separation of cash payment from cash disbursement function. Making daily cash deposits.
The owner of DTails Dog Wash and Spa just hired an office manager to handle all the office functions for him. Among other responsibilities, the office manager will handle key accounting functions such as processing customer payments, writing cheques to employees to pay the payroll, handle daily bank deposits at the bank, pay suppliers, and reconcile the company bank account bank reconciliations. What internal cash control practice is being overlooked by the owner?
Frequent preparation of bank reconciliations.
Ensuring all cash disbursements are tracked by making payments by cheque.
Separation of cash payment from cash disbursement function.
Making daily cash deposits.
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