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Accounting
Policies, Procedures & Forms
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Thank you for downloading this sample content from the Accounting Policies, Procedures & Forms.
Bizmanualz delivers an acclaimed knowledge system of manuals, training and support services to small-
and mid-sized firms seeking more effective management compliance and controls over their key
business functions and processes.
Over the last decade, Bizmanualz has helped thousands of companies, in the United States and abroad,
implement best practices through pre-written policies and procedures manuals. Written by expert authors
and editors, these manuals are general enough to fit most business situations. And, since all content is
provided in Microsoft Word files, you can easily edit and customize the policies and procedures to fit
your own specific needs.
The following 18 pages of this sample package contain a complete table of contents and a complete
policy, procedure and form(s) set. This policy for Account Collections exemplifies the content, writing
style and format of the full manual. The Account Collections Policy is located in the manual under Tab
7: Revenue Procedures.
If you have any questions after reading this sample package, please feel free to contact us. You may call
us at 1-800-466-9953 (toll free, US only) or at 314-863-5079, send an email to sales@bizmanualz.com,
or contact us online from our website (www.bizmanualz.com). Thanks again.
Best regards,
Chris Anderson
Managing Director, Bizmanualz
Introduction................................................................................................................Tab 1
Manual Preparation...................................................................................................Tab 2
Accounting Manual....................................................................................................Tab 3
PROCEDURES
Forms
G&A101 Ex1 Account Codes
References
A. Health Insurance Portability Accountability Act (HIPAA)
B. Age Discrimination In Employment Act (ADEA)
C. Americans with Disabilities Act (ADA)
D. Civil Rights Act of 1964
E. Employee Retirement Income Security Act (ERISA)
F. Employee Polygraph Protection Act
G. Equal Pay Act
H. Executive Order 11246
I. Fair Labor Standards Act (FLSA)
J. Family and Medical Leave Act (FMLA)
K. Immigration Reform & Control Act (IRCA)
L. Occupational Safety & Health Act (OSHA)
M. Rehabilitation Act of 1973
N. Right To Financial Privacy ACT
O. Guide to Record Retention Requirements
P. IRS Revenue Procedure 98-25 Records Retention
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Accounting Policies, Procedures & Forms www.Bizmanualz.com
Forms
G&A102 Ex1 Master File Guide Index
G&A102 Ex2 Records Retention Periods
Activities
1.0 Travel Arrangements
2.0 Expense Guidelines
3.0 Expense Report Preparation And Reimbursement
4.0 Additional Information Resources
Forms
G&A103 Ex1 Travel Arrangements Form
G&A103 Ex2 Travel And Miscellaneous Expense Report
G&A103 Ex3 Entertainment And Business Gift Expense Report
Activities
1.0 Preparation Guidelines
2.0 Daily Flash Report
3.0 Weekly Financial Report
4.0 Six-Week Cash Flow Report
5.0 Budget Vs. Actual Report
6.0 Financial Statements
7.0 Department Reports
References
A. Federal Accounting Standards Board (FASB)
B. Generally Accepted Accounting Principles (GAAP)
Forms
G&A104 Ex1 Department Reporting Summary
G&A104 Ex2 Daily Flash Report
G&A104 Ex3 Weekly Financial Report
G&A104 Ex4 Six Week Cash Flow Report
G&A104 Ex5 Budget vs. Actual Report
G&A104 Ex6 Financial Statements
Activities
1.0 Closings Preparations
2.0 Balance Sheet: Assets
3.0 Balance Sheet: Liabilities And Stockholders' Equity
4.0 Income Statement: Revenues
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Accounting Policies, Procedures & Forms www.Bizmanualz.com
Activities
1.0 Organization Fees And Taxes
2.0 Business Activity Fees And Taxes
3.0 Payroll Fees And Taxes
4.0 Excise Taxes
5.0 Other Taxes And Credits
6.0 Tax Payments
7.0 Insurance
References
A. Trust Fund Recovery Penalty
Forms
G&A107 Ex1 Federal Tax Calendar
G&A108 Property Tax Assessments
Activities
1.0 Review Of Assessments
2.0 Appealing Of Assessments
Activities
1.0 Financial Information Requests
2.0 Personnel Information Requests
3.0 Credit Reference Inquires
Forms
G&A109 Ex1 Non-Disclosure Agreement
Activities
1.0 Document Distribution
2.0 Document Revision
3.0 Procedure and Work Instruction Format
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Forms
G&A110 Ex1 Request For Document Change (RDC)
G&A110 Ex2 Document Change Control
Cash.............................................................................................................................Tab 5
Activities
1.0 Opening
2.0 Transactions
3.0 Special Tender Items
4.0 Closing
5.0 Chargebacks And Disputed Transactions
6.0 Security Precautions
Forms
CSH101 Ex1 Daily Cash Report
Activities
1.0 Receiving Cash Drawers
2.0 Application Of Accounts Receivable
3.0 Deposit
Forms
CSH102 Ex1 Deposit Log
References
A. Uniform Commercial Code (UCC)
B. Bad Check Law
Forms
CSH103 Ex1 Bad Check Notice
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Accounting Policies, Procedures & Forms www.Bizmanualz.com
Activities
1.0 Incoming Wires
2.0 Outgoing Wires
References
A. FRB Reg D: Reserve Requirements Of Depository Institutions
B. FRB Reg E: Electronic Fund Transfer Act
Forms
CSH104 Ex1 Bank Wire Instructions
CSH104 Ex2 Wire Transfer Form
Activities
1.0 Authorized Check Signers
2.0 Changing Check Signers
3.0 Authority Levels
Forms
CSH105 Ex1 Check Signing Authority Log
Forms
CSH106 Ex1 Check Request
CSH107 Bank Account Reconciliations
Activities
1.0 Bank Statement Preparation
2.0 Computerized Format
3.0 Manual Preparation And Reconciling Items
4.0 Computerized Preparation And Reconciling Items
5.0 Adjustments And Other Troubleshooting
Forms
CSH107 Ex1 Sample Bank And Book Balances Reconciliation
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Accounting Policies, Procedures & Forms www.Bizmanualz.com
Activities
1.0 Inventory Stocking And Storage
2.0 Inventory Usage
3.0 Inventory Protection
4.0 Inventory Obsolescence
5.0 Inventory Disposal
References
A. Food And Drug Administration (FDA) Food Code
Forms
INV101 Ex1 Inventory Requisition
Forms
INV102 Ex1 Inventory Count Sheet
INV102 Ex2 Inventory Tag
Forms
INV103 Ex1 Capital Asset Requisition
INV103 Ex2 Asset Disposition Form
INV103 Ex3 Bill Of Sale
Activities
1.0 Receipt, Inspection And Stocking
2.0 Unsuitable Or Missing Items
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Accounting Policies, Procedures & Forms www.Bizmanualz.com
Forms
INV104 Ex1 Material Return Notice
Activities
1.0 Capitalization
2.0 Depreciation
References
A. IRS Publication 946 “How To Depreciate Property”
Revenue.......................................................................................................................Tab 7
Activities
1.0 Sales Representatives
2.0 Internet Orders
3.0 Credit Department
4.0 Sales Administration
5.0 Manufacturing/Shipping
6.0 Customer Service
7.0 Accounting/Billing
8.0 Changes To Orders
9.0 Additional Information Resources
Forms
REV101 Ex1 Sales Order
REV101 Ex2 Order Form
Activities
1.0 Point Of Sale
2.0 Sales Orders And Invoices
3.0 Sales Invoices And Accounts Receivable
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Accounting Policies, Procedures & Forms www.Bizmanualz.com
Activities
1.0 Credit Application
2.0 Credit Investigations
3.0 Credit Approval/Rejection
4.0 Additional Information Resources
References
A. Equal Credit Opportunity Act (ECOA)
B. Truth In Lending Act (TILA)
C. Fair Credit Billing Act (FCBA)
D. Fair Credit Reporting Act (FCRA)
E. FRB Reg B: Equal Credit Opportunity Act
F. FRB Reg Z: Truth In Lending Act
Forms
REV103 Ex1 Credit Application
REV103 Ex2 Request For Credit Approval
REV103 Ex3 Credit Inquiry
Forms
REV104 Ex1 Phone Confirmation Checklist
Forms
REV105 Ex1 Shipping Log
REV105 Ex2 Commercial Invoice
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Accounting Policies, Procedures & Forms www.Bizmanualz.com
Activities
1.0 Sales Order Routing And Review
2.0 Invoice Preparation And Posting
3.0 Distribution
4.0 Accounts Receivable
Forms
REV106 Ex1 Invoice
REV106 Ex 2 Accounts Receivable Write-Off Authorization
Activities
1.0 Basis Of Tax
2.0 Applicable Sales Tax Rates
3.0 Nontaxable Sales
4.0 Sales Outside Of Our Jurisdiction
5.0 Sales Tax Billing
Activities
1.0 Contract Types
2.0 Breakdown Of Contract Amount
3.0 Progress Claims
4.0 Release Of Holdback
Activities
1.0 Collection Process
2.0 Seriously Delinquent Or Unresponsive Accounts
3.0 Working With Collection Agencies
4.0 Writing Off Uncollected Debt
References
A. Fair Debt Collection Practices Act (FDCP)
Forms
REV109 Ex1 Account Collection Control Form
Activities
1.0 Origination
2.0 Receiving Goods And Processing
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Accounting Policies, Procedures & Forms www.Bizmanualz.com
Forms
REV110 Ex1 30-Day Satisfaction Guarantee
REV110 Ex2 Returned Goods Authorization
Purchasing ..................................................................................................................Tab 8
Activities
1.0 Vendor Selection
2.0 Vendor Inspections
3.0 Vendor Files
Forms
PUR101 Ex1 New Vendor Notification
PUR101 Ex2 Vendor Survey Form
Forms
PUR102 Ex1 Purchase Requisition
PUR102 Ex2 Purchase Order
PUR102 Ex3 Purchase Order Log
PUR102 Ex4 Purchase Order Follow-Up
PUR102 Ex5 Daily Sundry Payable Log
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Accounting Policies, Procedures & Forms www.Bizmanualz.com
Forms
PUR103 Ex1 Order And Arrival Log
Activities
1.0 Receiving
2.0 Inspection
3.0 Rejection, Discrepancies And Disposition
4.0 Stocking
5.0 Product Returns
Forms
PUR104 Ex1 Receiving Log
PUR104 Ex2 Receiving and Inspection Report
PUR104 Ex3 Inventory Inspection Levels
References
A. Interstate Commerce Act
Index .........................................................................................................................Tab 10
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CEO Management Procedures Series Sample www.Bizmanualz.com
Policy: All open accounts receivable with late or delinquent payment activity will
be handled in a timely and effective manner to ensure maximum
collections and an optimum accounts receivable turnover ratio.
Purpose: To provide the actions and methods for processing late or delinquent
payments.
Scope: This procedure applies to the Credit Department involved with collection
of past due accounts receivable. The Sales and/or Shipping Departments
may be involved in reference to shipping holds or special credit
arrangements.
Responsibilities:
The Credit Department reviews all records for a customer to determine a
possible explanation for non-payment prior to commencing the collection
process.
Definition: Bad Debt consists of unpaid accounts receivable invoices that are
considered to be uncollectible.
Debt collector is any person who regularly collects debts owed to others.
This includes attorneys who collect debts on a regular basis.
Procedure:
has not been issued. These seem obvious, but it can avoid an uncomfortable
situation in wrongly accusing the customer of delinquent payments.
• Verify with the Customer Service Department that the customer has received
the product(s) and that they are satisfied.
• Review the customer's past payment activity. Determine if they are chronically
late and what their response has been to any other overdue notices to
determine payment patterns or trends.
1.3 Upon review of the above, the Credit Department Representative should then
proceed with the collection process by completing an REV109 Ex1 ACCOUNT
COLLECTION CONTROL Form. This form will assist in planning and tracking
the collection effort. Depending on the amount and the customer situation, the
representative can choose to follow-up with collection letters, telephone calls or
both.
Record all actions taken (late payment notice, telephone call, etc.) with a date on
an ACCOUNT COLLECTION CONTROL Form filed in the customer folder.
All customer agreements and explanations should be noted. If payment has not
reached the Company by the expected date, immediate follow-up action should be
taken with another collection call or letter. The longer an overdue account is
ignored, the longer the customer will ignore it, too.
1.4 Telephone communication will often speed up the collection process. Credit
representatives, when speaking with a delinquent account, should observe a few
tips or principles.
• Identify yourself and the Company and state the reason for calling. Be direct
and use a controlled, confident voice. Concentrate on listening to the
customer and don't rush through the call.
• Get the Facts - The most powerful tool is knowledge. During the phone
conversation, try to gain as much insight into the situation as possible.
Remember, the goals and objectives are to:
Collect the money!
Identify reasons for non-payment
Settle on an agreement for clearing the debt, including special payment
plans and exact dates when a check will be sent.
• Never argue, accuse or be condescending - Verbally fighting or talking down
to the customer will only serve to produce negative feelings and may hamper
the collection effort. The ultimate purpose is to secure payment, and this is
best accomplished without becoming defensive or irritated.
• There are several common objections, complaints and excuses used to elude
payment. Study the following examples to learn the most effective responses
to the most frequently used ploys.
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CEO Management Procedures Series Sample www.Bizmanualz.com
"I didn't get the invoice." - Respond by verifying the debtor's name and
address, and then review the account information with them.
"The check is in the mail." - Extend your thanks, then ask for a check
number, amount, date posted and address to which it was mailed.
"Your payment is being processed." - Ask when the payment will be
ready for the mail. Determine the process that the payment undergoes
after it leaves your contact's desk.
"I need proof of delivery." - Give the customer the name of the person
who signed the delivery slip.
"The computer is down." - When do you expect it to be up? Can we get
a manual payment?
"I'll pay you when we get paid." - Respond calmly, but make a direct
request for payment, such as When can I expect payment?"
"I have no money" - Create a payment plan. Be flexible and consider
alternatives offered by the customer. Work toward making the plan
acceptable to both of you.
1.5 Many people find it difficult to confront customers regarding delinquent
payments. Just keep in mind that it is the customer, who should feel
uncomfortable in this situation.
1.6 If customers stop paying, their phone has been disconnected, and you cannot find
them, consider using these resources to locate these debtors and their assets:
• City directories
• Post office (for a forwarding address)
• A customer’s employer
• Department of motor vehicle license and registration records
• "In case of emergency" contact, references or closest relatives listed on a
credit application
• Old files and correspondence
• The Internet (i.e. http://www.isleuth.com/peop.html)
• Skip-tracing services or private investigator
• Credit bureau reports
• Neighbors
• Directory assistance
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3.1 Collect all material records for the debt in question and send them to the
collection agency. The agency will require a copy of the invoice, credit
application (if available), proof of delivery, and/or any other correspondence that
may help them collect the debt.
3.2 Record the date the debt was sent to collections in the accounts receivable file.
3.3 If payments are received after the debt has been sent to collections, then notify the
collection agency immediately in order to stop any further collection efforts. The
agency will take their fee for any debt that has been collected once it has been
registered by the agency.
3.4 If all other avenues for collection of the account have been exhausted, the owner
and/or store manager should consider further legal action.
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the credit process and restrict credit granted to customers as outlined in REV103
CUSTOMER CREDIT APPROVAL AND TERMS.
References:
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• Say they will seize, garnish, attach, or sell the debtor’s property or wages,
unless the collection agency or creditor intends to do so, and it is legal to
do so.
• Say they will take actions, such as a lawsuit against the debtor, when such
action legally may not be taken, or when they do not intend to take such
action.
Revision History:
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CEO Management Procedures Series Sample www.Bizmanualz.com
Contact(s):
Telephone #'s:
Payment Terms:
Comments:
Running
Date Date Total
Invoice Due Amount Paid Due
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