Gutierrez, John Bernard Angelo S.

3AAC Accounting Office Practicum

May 12, 2012

A Task Report Voucher System

is

widely

used

system

of

establishing

control

over

cash

disbursements

the accounting department is responsible for approving cash payments and for recording the transactions. In approving an expenditure, the accounting department will examine such supporting documents as the supplier's invoice, the purchase order, and the receiving report.

Once payment has

been

approved,

the accounting department signs a

voucher

authorizing payment and I was responsible in recording the transaction in accounting records. Other names of the voucher include invoice approval form and check authorization. The voucher and supporting documents then are sent to the treasurer or other official in the finance department. This official reviews the voucher and supporting documents before issuing the check. Also I was ask to do that when the check is signed , the voucher and supporting documents are perforated or stamped "PAID" to eliminate any possibility of their being presented later in support of another check.

Inventory Count

Is a process that involves making a physical count of each item found in a particular inventory. I was assigned in this task to ensure that all inventory records are accurate. if the physical count and the records do not agree, procedures that are in keeping with company policies and any laws or regulations that apply must be used to reconcile those differences.

Cash Receipt Documentation

A cash receipt is a simple document of a transaction that is often issued at the time of the completion of a sale. the cash receipt serves two purposes. First, the document serves as a permanent record for the vendor. The cash receipt allows for the orderly posting of sales on a daily basis, as well as providing a document that can be used in adjusting current inventory levels. Second, the cash receipt provides the customer with a permanent record of the transaction that can be employed to keep the financial records of the client up to date