Accounts Dept.
(Image is from Google)
A. What is Accounts
Department?
Accounts. Dept. is
department responsible for administering a company’s financial affairs..
B. What are the
responsibilities of Accounts Dept.
ü Payroll: The total wages and salaries earned by every employee every pay
period, which are called gross wages or gross
earnings, have to be calculated.
ü Cash collections: All cash received from sales and from all other
sources has to be carefully identified and recorded, not only in the cash
account but also in the appropriate account for the source of the cash
received.
ü Cash payments (disbursements): In addition to payroll checks, a business writes many
other checks during the course of a year — to pay for a wide variety of purchases,
to pay property taxes, to pay on loans, and to distribute some of its profit to
the owners of the business.
ü Procurement and inventory: Accounting departments usually are responsible for
keeping track of all purchase orders that have been placed for inventory (products
to be sold by the business) and all other assets and services that the business
buys — from postage to forklifts.
ü Property accounting: A typical business owns many substantial
long-term assets called property, plant, and equipment —
including office furniture and equipment, retail display cabinets, computers,
machinery and tools, vehicles (autos and trucks), buildings, and land.
Yogyakarta, March 4, 2016
Irfan Suryana
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