Loan


Imprest Cash Funds



When accounting discrepancies occur in the submission of vouchers, Accounts Payable reserves the right to round off credit balances that it considers de minimus in amount...


The University has two (2) types of Imprest Cash Funds:

Petty Cash Fund

Petty Cash Funds are established for departmental use for incidental and emergency small dollar purchases where the use of alternative means (e.g...
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Online Merchant Account



An international merchant account expands your business capabilities and allows you to reach your target audience with less costs and far quicker than by means of traditional marketing...
The only thing that you should remember is that you’d better not work on public computers while transferring money from your credit card to online merchant accounts...
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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...
    For every debit journal entry recorded there must be an equivalent credit journal entry to maintain a balanced accounting equation.[2]

    Ledgers

    A ledger is a record of accounts...
    The ledger also sums up the total of every account which is transferred into the balance sheet and income statement...
    A double-entry bookkeeping system is a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different nominal ledger accounts...
    This process of transferring summaries or individual transactions to the ledger is called posting...
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    The Right Way To Use Your Credit Cards

    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...
    There will be a section where you fill in your bank details to pay off the card, and there will be a box asking you whether you want to pay the minimum balance, the full balance or some other number each month.

    Just click the “full balance” box and never change it.

    So, your transaction flow (dates are for illustration only) could be as follows:

    You always automatically pay the full balance before it is due, and then you’ll never have to pay any interest on your credit card.

    Your only exception when you may not want to pay the full balance each month is 0% balance transfer or 0% purchase credit cards where you enjoy a prolonged period of 0% interest...
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    High Interest Checking Accounts

    Many banks provide high yield accounts only provided that you fulfill certain requirements, including, but not limited to:

    Remember that most online banks do not provide you with paper statements...
    Remember, that when you open an account with banks, this means that you enter into agreement with them and have to follow their rules...
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    Credit Card Processing

    There’s no more need to verify your credit card transactions with a phone – Internet merchant providers allow you to facilitate the process and process payments online at an unprecedented speed!

    There are many online resources offering credit card processing reviews , but let’s look at the benefits of CC processing services in general, which are obvious:

    With the Internet’s evolution, online shopping has become a common thing used on a daily basis...
    The next step is money transfer to the issuing bank (which is another USD 2)...
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