The 30-Day Satisfaction Guarantee Notice Template outlines the company’s return policy. Customer Service Representatives should process returns per the REV110-1 30-DAY SATISFACTION GUARANTEE.
All sales of products returned must be in accordance with the following return procedures in order to provide adequate control of inventory and timely refunds to customers. This template applies to all products and service parts sold by the company.
Any return under the company’s 30-day money back guarantee program will be refunded in full to the customer. Any returns after 30 days are not allowed without sufficient justification. These returns are subject to a 15% restocking charge and cannot be returned for credit without the additional approval of the Credit Manager.
The Credit Manager should proceed with the collection process by completing an Account Collection Control Log Template. This form will assist in planning and tracking the collection effort. Depending on the amount and the customer situation, the representative can choose to follow-up with collection letters, telephone calls or both.
Keep in mind no matter how careful customers are screened prior to credit approval, slow pay or delinquent accounts will occur from time to time. Once an account becomes past due by even a few days, the collection process should commence immediately. Studies have shown that the sooner the collection process starts then the more likely that the debt will be collected.
Record all actions taken (late payment notice, telephone call, etc.) with a date on the REV109-1 ACCOUNT COLLECTION CONTROL Form filed in the customer folder. All customer agreements and explanations should be noted. If payment has not reached the company by the expected date, immediate follow-up action should be taken with another collection call or letter. The longer an overdue account is ignored, the longer the customer will ignore it, too.
The Accounting Policy Manual covers the common accounting requirements and practices. It is intended only to provide an example of wording that might be used in an Accounting Policy Manual. This sample wording can be helpful in generating ideas for developing a manual for your own company. However, accounting policies should be drafted as appropriate and as necessary to accurately reflect your company’s accounting standards. (50 pages, 10334 words)
The purpose of this Accounting Policy Manual is to document the principles and policies governing your company’s accounting practices. The principles and policies provide:
A foundation for a system of internal controls
Guidance in current financial activities
Criteria for decisions on appropriate accounting treatment
Accounting officers with direction and guidance in connection with those accounting transactions, procedures, and reports that should be uniform throughout the company
When consistently applied throughout the company, these principles and policies assure that the various financial statements issued by the company accurately reflect the results of the company’s operations. Internal controls provide a system of checks and balances intended to identify irregularities, prevent waste, fraud and abuse from occurring, and assist in resolving discrepancies that are accidentally introduced in the operations of the business.
All additional departmental or functional policies and procedures written should conform to and parallel the policies in this manual. All changes to policies and procedures are required to be reviewed to ensure that there are no conflicts with the policies stated in the Accounting Policy Manual. This policy manual covers:
An Accounts Receivable Template for Write-Offs will be issued for uncollectible accounts, as determined by the Credit Manager. Upon review of the REV106-2 ACCOUNTS RECEIVABLE WRITE-OFF AUTHORIZATION form, the accounts written off will be transferred from the Accounts Receivable ledger to a separate write-off ledger and control account for internal control purposes.
On a monthly basis, Accounts Receivable will generate an aged trial balance of customers’ accounts with individual invoice information and days outstanding and will forward to Credit for timely collection activities. Accounts Receivable will also generate monthly statements of outstanding customers’ accounts and issue them to customers no later than 10 days after each month end.
The Asset Disposition Report Template deals with capital assets that may be sold or traded-in on new equipment. An INV103-2 ASSET DISPOSITION form is to be completed and approved by the department manager. Any assets with an original value greater than $1,000 will also require the Chief Financial Officer’s approval.
Upon approval, the department may advertise the property for sale or submit a list to purchasing for sale and disposition. After completion of the sale, an Bill of Sale form will be issued and the ASSET DISPOSITION form will be submitted to the Accounting Manager. The Accounting Manager will delete the item from the asset records and record any gain or loss on the disposition.
Worn-out or obsolete property with no cash value will be reported to the accounting manager on the Asset Disposition form with the description, serial number and condition. The Accounting Manager will inspect all worn-out of obsolete property before it is removed from the department and discarded. The asset will then be removed from the asset records.
The Bad Check Notice Template deals with redeposited checks. In the event a redeposited check is returned or if sufficient funds do not exist to cover the check, the Credit Manager should contact the issuer by phone to report the problem to discuss how the matter will be resolved.
Issue a formal notice, CSH103-1 BAD CHECK NOTICE, via certified mail with a return receipt requested to ensure the customer has received the notice and understands the seriousness of the matter.
Normally, when a check is redeposited more than once, the customer will be assessed a handling fee. Any exception to this rule must be granted in writing by the Accounting Manager.
The Bank Account Reconciliation Report Template helps ensure the accuracy of the company’s bank account records by proving the monthly balance shown in the bank’s Account Register. After receipt of the monthly bank statement, including cleared checks, deposit slips and any other transactions; the Controller should prepare the monthly bank reconciliation and have it carefully reviewed by the CFO.
In the computerized environment, the accounting system may provide an automated bank reconciliation task. This task is generally selected once a month in conjunction with receiving the month end bank statement.
After the account-reconciling task is successfully completed, a report is provided which shows the reconciliation process, including outstanding checks and deposits in transit. The actual format will vary depending on the accounting system, but in general, will contain the same information as shown in CSH107-1 BANK ACCOUNT RECONCILIATION REPORT.
Print out the full (not a summary) report, staple it to the applicable bank statement, and file the result as an important control feature. This will document that the bank statement has been successfully reconciled.
Bank Account Reconciliation Report Template Details
The Bank Wire Instructions Guide Template applies to customers who are sending or receiving wire transfers and the financial institutions which process these requests. You should ensure proper procedures are followed when processing wire transfer requests.
If a customer prefers to pay by wire transfer, A/R should send them CSH104-1 BANK WIRE INSTRUCTIONS form. Upon the bank’s receipt of the wire transfer, the bank may create a wire transfer notification. Normally these are mailed but many banks may also provide notification via e-mail, phone, fax, or via an online banking interface. The bank notification serves as documentation that the money has been received.
The Bill of Sale Template will be issued after completion of the sale of assets. Once the department manager approves the Asset Disposition form, the department may advertise the property for sale or submit a list to purchasing for sale and disposition. The Accounting Manager will delete the item from the asset records and record any gain or loss on the disposition.
Any asset that is missing or has been stolen will be reported in writing to the Department manager and the accounting manager as soon as possible. The description, serial number, and other information about the lost item should be included in the report.
The accounting manager will determine the proper course of action and will notify the company’s insurance carrier and any outside authorities if deemed appropriate. If un-recovered, the asset will then be removed from the asset records.
The Budget vs Actual Report Template represents a comparison of planned operating expenses to the actual expenses incurred for the period. The objective is to highlight results against plan, percentages and variances and thus provide a basis for management decisions. The Budget vs Actual Report Template is prepared and maintained by the Accounting department on a monthly basis.
G&A104-5 BUDGET VS ACTUAL REPORT should be divided into three main components: 1) Current period budget, actual and variance totals, 2) a description of the major income and expense account classifications similar to the financial statements, and 3) the Current year-to-date budget, actual, and variance totals. The percent column should be used to list each line as a percentage of total sales. Alternatively, it can also represent the percentage variance or change from last period.
The Capital Asset Requisition Template helps with authorization of capital expenditure. All purchases of assets costing more than $500 and less than $5,000 should be approved by the department manager and the Chief Financial Officer. Assets with a cost greater than $5,000 will also require the approval of the President.
An INV103-1 CAPITAL ASSET REQUISITION form should be completed and approved for all purchases. This form is to be attached to all Purchase Orders or check requests submitted to the Accounting Manager. Department managers may source the vendor for purchase of the capital assets or can submit the request to Purchasing for procurement.
Any internally constructed or donated equipment will be reported to the Accounting Manager if the item cost has a value of $500 or more. A complete description of the property, date manufactured or received, number of items, cost or estimated value and a statement that it was internally constructed or donated will be included in the report.
The Cash Deposit Log Template helps establish the procedures to be followed for receiving, applying, and depositing cash receipts. Collect all cash and checks and prepare a bank deposit slip for deposit in the company’s authorized bank at the end of each day. A deposit ticket should be prepared for each cashier station or a combined ticket for several funds.
Place a duplicate copy of the deposit ticket and collected cash into a cash bag for transport to the bank. Deposits should be made no less frequently than daily. If the deposit cannot be made immediately, deposits should be stored in a secure area for later deposit.
Extreme care should be taken to protect the safety of the person making the deposit and the deposit itself. Actions to be considered are, making deposits only during daylight hours, using random deposit times and different routes to the bank, and assigning two people to make deposits.
The deposit amount should be entered into the accounting program and then recorded on the CSH102-1 DEPOSIT LOG. The original deposit ticket should be stapled to a Daily Deposit Report generated from the Accounting program and filed accordingly.
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Make Cash Processes Easier
Cash management (may be a part of treasury operations) includes management of an enterprise’s cash holdings. The following procedures are designed to help ensure that all cash requirements are met and that implemented controls are effective. The company may also be required by law to show outsourced functions, like cash management, are under control.
This Cash Management Policies and Procedures Manual was developed to assist organizations in preparing a Standard Operating Procedures (SOP) Manual for any industry or business size. It can be custom tailored to fit one’s individual company concerns and operations. The manual covers common cash procedures that include dealing with cash drawers, bank checks, wire transfers, and petty cash accounting.
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The Check Request Template applies to all manual check requests. Whenever an employee requires a manual check to be issued, such as picking up items or for cash on delivery items, a CSH106-1 CHECK REQUEST form should be completed with all pertinent information and required departmental approval.
If a check is to be mailed directly to the vendor, any applicable documentation such as order forms, etc., should be attached to the form. The form should then be forwarded to the Controller for check preparation and signature by an authorized check signer.
The CFO receives all approval paperwork and should prepare and maintain a file record of all authorized check signers and CSH105-1 CHECK SIGNING AUTHORITY LOG. The Check Signing Authority Log Template should be kept current of all individuals and their status to sign checks as soon as their status changes. The log should contain the following information:
Recipient name/position or title
Authority start date
Authority end date
Maximum expenditure authority level
The President or the Board of Directors may revoke check signing authority. Any person who is no longer entitled to sign company checks will be notified in writing. The chief financial officer will oversee the proper notification of the company’s banks whenever authorized signature changes are made. All changes to authority should be recorded in CSH105-1.
The Commercial Invoice Template is required for all International shipments. Make 5 copies of the final document. Attach one copy to the customer packet as a record for the customer files. Insert the original and 4 remaining copies into a plastic pouch attached to the outside of the package.
Incoterms should be listed on REV105-2 COMMERCIAL INVOICE and in your contract. Every Incoterm has its own unique three-character abbreviation. Every Incoterm must be accompanied by the name of a geographic place or range of places.
The company may not physically or electronically export or re-export items or provide services to any party, whether in the United States or abroad, who is listed on the United States government export exclusion lists, including but not limited to the Treasury Department’s Specially Designated Nationals List and Commerce Department’s Entity and Denied Persons Lists.