OUTLINE

A. COMPANY INFORMATION

B. TIMETABLE

C. BANK RECONCILIATION

D. COLLECTION APPLICATION TO SALES INVOICE

E. ADDITIONAL ITEMS
A. COMPANY INFORMATION:

CLIENT NAME: RINSON TRUST

NATURE OF BUSINESS: RESTAURANT
ADDRESS: 9A Darley St E Mona Vale NSW Australia 2103
ABN: 84 145 667 092
Fiscal Year Ending: 30 June
CONTACT PERSONS
NAME POSITION EMAIL ADDRESS
Lyn Kunmotarn Director/Owner lyn@thearmchair.com.au
Judeth Yumul Bookkeeper @ BMG Phils judeth@beale.net.au
Brett Tredinnick Bookkeeping Manager @ BMG brett@beale.net.au
Accountant

B. TIMETABLE
 RINSON TRUST
INDICATIVE TIMETABLE FOR CLIENT DELIVERABLES
RECURRING

1 2 3 4 5
1. REVIEW OF
ACCOUNTS FOR
PREVIOUS PERIOD

2. REQUEST COPY OF
BANK STATEMENT /
SCREEN SHOT ( if bank
statement not
available)

3. EMAIL CLIENT FOR

QUERIES AND REQUEST

6 7 8 9 10
1. CHECK COMPLETION
OF PAYROLL FOR THE
PREVIOUS MONTHS
AND PREPARE AND
SUBMIT IAS FOR
REVIEW TO BRETT .
11 12 13 14 15
ANYDAYS OF THE MONTH: BANK RECONCILIATION,
ANSWER CLIENT QUERIES, PROVIDE CLIENT REQUEST,
APPLICATION OF COLLECTIONS UPON ADVISED OF
16 17 CLIENT. 18 18 20

21 22 23 24 25
1. IAS MONTHLY DUE
DATE

26 27 28 29 30
1. BAS QUARTERLY DUE
DATE
2. Quarterly, start
accomplishing BAS
Processes

C. BANK RECONCILIATION:
Bank account: ANZ BUSINESS 282560814 : Main Business Account. Payments to Payroll, Expenses,
Collections, Transfer to Saver and Payments of Credit Card Accounts, ATO Payments, Super Payments.

- AMEX Collections: Transactions with Payee AMEX GR 145.00 9790257810 should be recorded this way:
Click Add Details:

- Transfer to/from 20167805 (Rinson Property Trust) : Record as below:

- TYRO Collections (credit card sales collections): Just click OK button

- Card Entry Collections (Cash collections being deposited by Lyn in the bank): Just click OK button

- Transfer to/ from Bank Account 382048957: Transfer as below:

- Expenses Payments (Multiple Payments): Lyn when paying bills, already applying payments to
corresponding bills. Just need to click OK button.
- Expense Payments (Single Payments): Lyn payed bills to specific bills then applied payment in Xero.
Just need to click OK button

- Payroll Payments: For Multiple Payments with no Match transactions pop up similar to above:

 Check amount to pay run processed: Go to Payroll Tab > Payrun > Check payrun processed,
usually the payment will match on the latest transaction:
 1

 When you have verified already the amount in the list of Payrun Processed. Reconciled now
the amount to 804 – Wages Payable – Payroll.

- Interest Paid: Reconciled to 270 – Interest Income:

- ATO Payments: Payments to ATO should either be reconciled with 935 – ATO Liability (Quarterly BAS)
or 825 – PAYG Withholdings Payable (Monthly IAS). You must check both accounts if there is a
balance outstanding.
- Transfer to Miss Sirinthip Kunmotarn:

 For Transfer to Miss Sirinthip Kunmotarn, Kindly check Citibank Credit Card :
  Go to account transaction:

1
2

 Check if there are transactions matched to the amount of transfer:

 If there is matched transaction. Process Transfer of amount > Go to Transfer > Select
Citibank Credit Card:

 Go to Citibank Credit Card again > Tick the box at the left side for those that have matched
amount > Then, Click Mark as Reconciled on the MORE button.

1
  Below will pop up then > Click Mark as Reconciled Button

 Below will appear then for successful reconciliation:

Bank account: ANZ SAVER 382048957 – Savings Account - Transfer to/from Main Bank account

(ANZ BUSINESS 282560814)

- Transfer from Main Bank account. Just Click OK button for matched transactions.
D. COLLECTION APPLICATION TO SALES INVOICE

- Summarization of Collections:

 Go to ANZ Business 282560814 > Generate Reconciliation Report

 Go to Bank Statement > Update Period Covered, which should be period indicated on the
reference in the sales invoice to which we will collections.

2
Sample Sales Invoice:
  Summarize the Bank Statement transactions:

 Insert Column at the Start > Name it Classification > Transactions will be classified as
AMEX, CARD Entry, EXPENSES, FUND TRANSFER AND TYRO > Create Filter for the
whole file.

 AMEX: Go to Description column and search for AMEX > Then Go to Classification
Column and Name them AMEX:

2 1

 Make sure you change the amount in the Amount Column using the amount in
Description Column. You may used Text Column under Data in Excel to get the data
easily in Description Column:
  CARD ENTRY: Go to Reference Column and search for Card Entry > Go to
Classification Column and Name them CARD ENTRY:

2
1

 TYRO: Go to Description column and search for TYRO SET > Go to Classification
Column and Name them TYRO:

2
1

 FUND TRANSFER: Go to Reference Column and search for FUNDS TFER > Go to
Classification Column and Name them FUND TRANSFER:
 EXPENSES : Go to Classification Column and search for those unclassified
transactions (Banks) and check if they all pertains to expenses > Name them
Expenses:

 After classification of all the transactions, it is time to sort and group the
transactions . Highlight the whole file and sort according to Classification.

 Then Highlight again the file and create Subtotal by using the subtotal under DATA in
Excel

 Under Add Subtotal, click Column A (Classification) and Columns H (Amount) > Then
click Ok.
 Below will be the output report then:

Collection
Summary_January 2016.xls
 Application of Collection to Sales Invoice:
 Go to Specific Invoice to which the summarized collection pertains with. Ex. Month
of January > Edit the invoice > Add New Line on the body of the invoice > transfer
the summarized collection. Note only CARD entry (Cash on hand), AMEX, TYRO
(Credit Card) should be transfer to collection. After application of collection, invoice
should be like below: Note if there is remaining balance on the invoice after applying
all the collection available, charged them all to cash on hand account.
E. ADDITIONAL ITEMS (checking of accounts)

1. Everytime you received BMG Phils invoice from Elmira, kindly enter it in Xero . The supplier name is
Beale Management Group (Phils) Inc.
2. For BMG Accountants invoices for accounting fees, kindly request to Judeth for the Acitivity Statement
and check which invoices are not yet entered then request to her copy of invoices not yet in Xero, then
enter. The supplier name is Beale Management Group.
3. For unreconciled transactions, kindly email Lyn for confirmation.

PAYROLL:

- WAGES PAYABLE – Monitor the Wages Payable account if being paid. If there was outstanding
balance, kindly inform the client. Please see below sample summary to be email to client:

Wages Payable - Payroll Transactions

Date Reference Debit Credit Payables Lyn's Comments

5/01/2016 Week ending 3 January 2016 $770.94 $770.94
12/01/2016 Week ending 10 January 2016 $424.88 $424.88
12/01/2016 Week ending 10 January 2016 $10,504.92 $ 270.00
13/01/2016 Payment $10,234.92

- Super Liability – Make sure Superannuation Payable balance equal with the balance in Auto Super. If
not reconciled, do reconciliation and inform the client.

ATO ACCOUNTS:

- ATO Liability - Make sure client will pay its ATO Liability on time Check on or for before due dates if
already paid. If not, inform the client that their ATO Liability is outstanding to date and kindly advise
when it is due for payment.

CHECKING OF ACCOUNTS:

- Just follow the BAS Processes for things need to be checked.