Loan


Bookkeeping

It may be split into two daybooks: receipts daybook for money received in, and payments daybook for money paid out

  • General Journal daybook, for recording journals
  • Petty cash book

    A petty cash book is a record of small value purchases before they are later transferred to the ledger and final accounts, it is maintained by a petty or junior cashier...
    This type of cash book usually uses the imprest system: a certain amount of money is provided to the petty cashier by the senior cashier...
    Separate account records are maintained for petty cash, accounts payable and receivable, and other relevant transactions such as inventory and travel expenses...
    Using the rules of double entry, these journal summaries are then transferred to their respective accounts in the ledger, or account book...
    sales, cash receipts, revenue, etc.) making transactions easier to summarize and reference later...
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    Where to Look for Savings Account Options

    For more pressing issues, customer support is also usually accessible 24/7, so you can talk to an actual human instead of your computer screen.

    Self- Maintenance: Why drive to a branch and talk to a banker to transfer money, update personal information, make payments, or check your balance? You can perform all of these functions and more from your computer screen or mobile device without even getting dressed.

    Superior online and mobile experience: Many traditional banks have been slow to adopt the best web and mobile features to improve the customer experience online...
    However, the best online savings account will still handily beat out the yield of a traditional bank over the long term.

    24/7 Access: You can check your balance, update your contact info, make transfers, and order deposit slips at any time...
    This account gives you easy access to your money over the phone, with an optional ATM card, or by transferring funds to another account online...
    Even with no monthly fee and high rates, Barclays manages some great online banking features like online transfer, external account linking, and remote deposit using your smartphone or home computer scanner.

    Barclays at a Glance

    Synchrony OptimizerPlus
    GE Capital has spun off its retail arm and is now Synchrony...
    That’s a hard pill to swallow for savers who want to have their cash in a safe account far from the effects of the global market turmoil we have experienced over the last few years.

    The key to finding the best online savings account is to look for rates close to 1% APY – roughly 16 times the national average!

    Fortunately, there are several lucrative offers on the market, including the newest offer from Capital One 360...
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    The Right Way To Use Your Credit Cards

    But, it doesn’t stop there.

    Step 3: Use a “rewards” or “cashback” credit card

    There are many credit cards on the market which will offer you a % cashback of your bill each month or provide you with airmiles, supermarket vouchers or other incentives.

    I’ve been using the Avios Duo Credit Card from TSB for a few years now...
    This flight is usually ?215 return. Therefore, my 8,000 Avios are worth ?180 to me.

    With my Amex, I need to spend ?8,000 to earn 8,000 points, and hence for each ?1 I spend, I get ?180/? 8000 = 2.25p back. Therefore, I get the equivalent of 2.25% cashback as this is expenditure that I would have otherwise incurred myself.

    Many personal finance gurus often say “no one ever got rich through credit card points”...
    I actually use the available credit on my cards to act as my emergency fund, which means that I can invest the 3-6 months of expenses I would usually keep in cash in case of emergency...
    Let’s say on average you spend ?1,000 per month on your credit card, and we’ll assume that on average your direct debit is one month after the date of purchase.

    Then, also say that you earn 5% interest on your cash account (which is currently possible in certain current accounts).

    Then, by using a credit card instead of a debit card for your transactions, you will have earned extra interest of:  ?1,000 * ((1.05^(1/12)-1) * 12 = ?49.

    Therefore, you’ve earned an additional ?49 a year just from paying your credit card down in full...
    You are just paying for your goods.

    However, in reality, anything you buy in one month doesn’t actually get paid for until you pay your direct debit the following month.

    This deferred cash outflow is actually a nice hidden benefit of credit cards...
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    Sample Request Letter for Petty Cash Fund

    In this case, users must follow the requirements similar to those relating to opening a petty cash account...
    It takes a bit of knowledge and attention to write a sample request letter for petty cash correctly...
    Once approved, your account will be opened and you will actually have a bank account that feeds your petty cash account...
    For instance, if you have a $100 account (the maximal petty cash sum), you must finish the current month with this sum, regardless of how much you have spent...


    In order to withdraw cash from your account, you need to submit a letter of request, using a sample letter of Request for the Release of Funds, to your local Imprest office and specify your account ID...
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    Imprest Cash Funds



    Generally, a petty cash fund should be turned over at least 4 times per year...
    Employees must present a Petty Cash Form (which can be found at http://www.finance.umich.edu/finops/cashier/forms/pettyca shform) signed by a Higher Administrative Authority together with original receipts at one of the University cashiers offices listed below...


    All imprest cash funds are subject to unannounced audits by the Office of University Audits or Procurement Services...


    Each imprest cash fund is to be maintained at its original amount unless it is increased or decreased by obtaining from or returning the proper Form to Procurement Services...


    Supporting Documentation for Expense Reimbursement



    Missing or Stolen Imprest Cash Funds

    Unit must file a police report and must also report to both University Audits and to Procurement Services...
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    Payday Loans without Checking Account

    You can also get cash rather than a transfer to your bank account...


    Remember that Internet payday loans are the quickest way to get instant cash but you should pay attention to possible penalties in case you fail to repay the debt as well as the charges for loan extension or renewal...


    Payday loans without direct deposit

    As you know, an active bank account is very important for getting approval for cash advances but you have an option...
    But the convenience of online application has made it even easier for people to get cash advances without the need to visit brick-and-mortar institutions...
    If you are in a similar situation, don’t be in a haste to open a checking account as there are other options to get advance cash...
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