Industrial Attachment Report

Currently there are over 700 employees all of which are paid by cheques printed on a bi-weekly basis. Manual cheque printing is neither cost nor time efficient. Payroll direct deposit can significantly reduce the production, administration and

Debit Vouchers are kept with the daily business printed out by the DDO when EFT payments are made utilizing DDS.

Sales invoices are prepared in batches on a daily basis using numbered sales invoices. Sales invoice numbers are automatically generated by the company’s computer system. The accounts receivable clerk does not have appropriate computer rights to override the computer-generated invoice number. Upon preparing sales invoices, the accounts receivable clerk verifies that the first invoice number of the batch is consistent with the last invoice number of the previous batch. Inconsistencies or skipped sales invoice numbers are investigated and resolved before new sales invoices are prepared. The items shipped are compared to the items billed for proper quantity, price, and other sales order terms.

13). The clinical services department within the hospital is responsible for the accurate charting of any procedure or service that was provided to the patient. This process begins with patient registration and verification. The healthcare provider then will perform their job as necessary and will indicate what billable tasks were performed which can later be processed. The patient accounts department is responsible for going through the patient’s chart and recording the patient’s bill by use of the hospital’s chargemaster to send the bill to the payer by the health information department. In this department the initial coding of the patient’s medical record is done. Once overviewed for the sake of accuracy, the final coding is done and sent to the payer. Any inaccuracies by any of these departments could directly impact the hospitals reimbursement process through a slowing for the process or simply by failing to bill for a procedure performed, ultimately hurting the hospital’s financial stability. The patient financial services (PFS) department is responsible for ensuring compliance within the billing and coding policies through training and with quality assurance checks and regular audits. This ensures that the revenue and reimbursement cycle continues without any inaccuracies in patient charges. It is especially important to have quality management within this department, as it has the potential to affect the entire organization, reflective of the institutes financial situation. Poor PFS management can lead to a loss in revenue and can lead to a loss in budget if the hospital is losing too much as a result. Ensuring compliance with medical coding and billing guidelines and policies ensures a more accurate representation of the hospitals financial and budgetary situations, while

17. Which of the following is not a procedure for control of cash payments? A. B. C. D. Checks should be properly authorized with approval signatures. The business should provide written

So by developing my skills I can look at possible interesting careers and sectors that I might be interested in and develop my opportunities in securing a new position.

Cash receipts and cash disbursements are from one and only one cash account. New cash accounts are added to the database when they are opened with a deposit. Sometime after this checks can be written from them. Employees are added to the database on the day they are hired (but before they are involved in a purchase or sale, or involved with a vendor). Cash accounts can have many receipts and many disbursements.

(iv) Detailed computation of the grant, allowances and income, before and after implementation of the agency decision or action.

The company accounts for these transactions as sales in accordance with Statement of Financial Accounting Standards No. 77, ‘’Reporting

• It is discovered that $10,000 cash received during the year and credited to sales are actually related to services to be delivered in July 2014. • $5,000 of wages relating to June 2014 have not been paid and need to be accrued. Part A (12 Marks) Prepare journal entries for the necessary end of period adjustments. Debit Credit

d. Trace the date, check number, and amount of outstanding item – Occurrence & Completeness. (AU-C 315.A114 a.i-ii)

What cash payments will be made by the company at the end of year seven?

Most of the Bury Payplan clients choosing BACS payment method and some of our clients are interested to pay their employees via Cheque. To ensure on time processing and output delivery NGA have implemented a schedule which is known as Master Schedule. Which consist of Name and reference of payrolls, Frequency of payrolls, Pay Method, Pay date, Payroll Input due date, Preview Date, Preview cutoff date, Payroll Final report due date , BACS submission date and current status of payroll(Process pending, processing, processed, audit pending, auditing, audited, input awaiting, query to client). NGA give different colours for each payroll status this help NGA to identify the payroll status easily. To ensure on time processing of BACS NGA create another spread sheet called BACS control sheet for BACS clients, which includes BACS transmission date, BACS processing date and pay date. Both the schedule help NGA to process the payroll and pay the employees on time and this ensure 100% Turn Around Time (TAT) for all payrolls. NGA sending each client’s forthcoming period’s schedule along with their payroll output therefore our clients also aware about their schedule for each pay period. NGA reduce the number of errors and TAT miss by implementing master schedule and

In response to management’s request, a thorough evaluation of internal control over disbursements for manufacturing plant purchases of parts and supplies is being planned. As a preliminary step in planning the engagement, each plant manger has been requested to provide a written description of his or her plant’s procedures for processing disbursement vouchers for parts and supplies. Presented below are some excerpts from one of the written descriptions.

• Describe the meaning and marketing of cheques, crossing of cheques and cancellation of crossing of a cheque;