Loan


Ways to improve your credit score

If you pay only your credit-card minimums, it will take you much longer to pay off your debt and will cost you more.

  • Keep the balances on your credit accounts below 35% of your available credit, says Ken Chaplin of TransUnion...
    New credit accounts for 10% of your total FICO score.
  • Pay off credit card debt rather than moving it around from one card to another.
  • ...
    Closing accounts also hurts your credit utilization ratio by reducing your available credit.
  • Maintain a mix of credit, including mortgage, home equity, auto loans and credit cards, and pay those bills on time...
    Fifteen percent of yourFICO score is based on the length of time each account has been opened and the length of time since the account's most recent activity...
    Your payment history is 35% of the total FICO score...
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    Bookkeeping

    Once the posting process is complete, accounts kept using the "T" format undergo balancing, which is simply a process to arrive at the balance of the account...
    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 first column contains the names of those accounts in the ledger which have a non-zero balance...
    If an account has a debit balance, the balance amount is copied into column two (the debit column)...


    Once the accounts balance, the accountant makes a number of adjustments and changes the balance amounts of some of the accounts...
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    Imprest Cash Funds

    Although the use of regular University purchasing options such as Purchase Orders, Non-PO Vouchers or the University Purchasing Card (P-Card) is the preferred way to pay for goods and services, Imprest Cash Funds will be approved in limited situations when maintaining a cash-on-hand balance is clearly the best payment option...


    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...


    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...
    If not it could have too high a dollar balance and Procurement Services will discuss with the fund custodian and/or the higher authority to decide if the balance is warranted (this does not apply to a change fund)...
    The Imprest Cash Fund represents a loan (or advance) to a department, so the department must designate a custodian to sign the Imprest Change Fund Agreement Form when the fund is established, to safeguard and account for the Fund during its existence, and ultimately repay the advance when the need for the fund no longer exists...
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    Imprest Funds – Discover the Main Principles of that Kind of Funds!



    Usually Imprest funds are fixed funds (more often petty cash funds) that are presented in the form of currency or coins used for making a small amount of payments...
    The curious fact is that this replenishment goes to the primary cash account while the debit is paid to the certain expense account according to the petty cash vouchers you have...
    You spent $190 of that amount within a month and you are to bring back the $190 to your petty cash to make your balance equal to the initial one provided at the beginning of this month...
    So, imagine you start the month with the full account of $200 provided in your petty cash float...
    People choose this system of loans because of a great possibility to pay in cash without using their general ledger account...
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    Balance Transfer Credit Cards



    Balance Transfer Credit Cards

    You can go for a credit card balance transfer if you have a large balance...
    People move their money to lower interest or zero balance transfer credit cards ...


    Whatever kind of transfer you choose, there are a few must-know things, which you should bear in mind while choosing between different companies:

    1. The longevity of the introduction card rate
    2. Fees and commission charges
    3. To how many transfers the introductory rate is applied?
    4. Is the rate applied to your daily purchases?
    5. How will the rate change when the introductory period expires?
    6. Imprest checking account details
    7. Transaction fee size.
    Credit card companies charge transfers differently...
    It can be a little difficult, but this is the only way to find a financial institution that offers the best balance transfer credit cards...


    Balance Transfer Calculator



    You can go for a 0 interest on balance transfer if you are ready to pay out quickly...
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    Imprest Balance

    In most cases, such accounts are open to make payments that cover some work outside the regular working cycle or system, e.g...
    Payments from the imprest bank account can be only done within the payment terms that are approved when entering into the bank agreement...
    An example of accounts payable can be your regular payments for cable or ISP services...


    Accounts payable are also associated with a unit that keeps track of all the company’s financial activities, including equipment ordering, account withdrawals, managing expenditures, etc...
    Accounts payable jobs also involve paying bills on a timely manner, ensuring the payments meet certain criteria, so that the company’s credit ratings remain high and solid....
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