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Account Reconciliation and Management of Suspense Account Course

By: Tom Associates Training  

Lagos State, Nigeria

25 - 27 Sep, 2019  3 days

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NGN 125,000

Course Contents

Day One

  • Significance of Account Reconciliation
  • Correction of transaction mistakes    
  • Tracking fraudulent activities
  • Problems with requisite accounting skills
  • The Business and its Cash
  • Double entry bookkeeping method and reconciliation process
  • Clarifying Account Reconciliation and Bank Reconciliation
  • Finalising Business Transactions
  • Account balance as per the bank
  • Account register as per general ledger
  • Lag time between posting and ending balances
  • The comparison process
  • Bank Reconciliation Discrepancies
  • Direct transfers
  • Bank direct debits
  • Bank own errors
  • Unpresented instruments
  • Dishonoured cheques
  • Uncredited instruments
  • Cashbook Errors
  • Oversights
  • Wrong figures
  • Beneficiary mix-up.

 

Day Two

  • Analysis of Revenue Accounts for Accuracy
  • Analysis of Expense Accounts for Accuracy
  • Analysis of Miscellaneous Balance Sheet Accounts
  • Preparation of Reconciliation Statement
  • Daily report
  • Weekly report
  • Monthly report
  • How You can Use Technology
  • How to do reconciliation in Excel
  • Bank reconciliation worksheet.

 

Day Three

  • Defining a Suspense Account
  • Suspense Account as a Temporary Storage
  • Payment with invalid or incomplete information
  • In-transit transaction
  • Pre-contract payment
  • Unappropriated budget expense
  • Transaction with legal contingent liability
  • Transaction issues that prevent their normal posting
  • Inferences on Suspense Account
  • Weakens view on financial integrity
  • It can be a control risk
  • Demands quick clearance
  • Clearing Suspense Account
  • Track transaction items quickly
  • Analyze by type of product
  • Analyze by aging category
  • Constant monitoring and reporting
  • Special identification of high-risk suspense items
  • Prompt reconciliation into the appropriate accounts
  • Work on it with speed.
5/7 Alade Lawal Street, Opposite Divisional Police Station, Off Ikorodu Road, Anthony, Lagos. Sep 25 - 27 Sep, 2019

Registration: 08:30:am - 09:00:am

Class Session: 09:00:am - 04:00:am

NGN 125,000.00(Vat Inclusive)
(Convert Currency)

Mr Abiodun Toki 08033019120

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