FAR - Revision history

Admin: /* Restricted Cash */

2024-02-05T03:39:43Z

Restricted Cash

← Older revision		Revision as of 23:39, 4 February 2024
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	Some examples of when cash is not "available for use" (a.k.a. "Restricted") includes:		Some examples of when cash is not "available for use" (a.k.a. "Restricted") includes:
	~~# Check that has not been mailed.~~
	~~# Check that has been returned as NSF (bounced check).~~
	# Cash set aside for specific fund.		# Cash set aside for specific fund.
	# Cash set aside as a required compensating balance for a loan.		# Cash set aside as a required compensating balance for a loan.



	=== Bank Reconciliations ===		=== Bank Reconciliations ===

Admin: /* Cash */

2024-01-05T06:35:49Z

Cash

← Older revision		Revision as of 02:35, 5 January 2024
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	! style=width:10em \| Term \|\| Types \|\| style=width:25em \| B/S Classification \|\| Footnote disclosure?		! style=width:10em \| Term \|\| Types \|\| style=width:25em \| B/S Classification \|\| Footnote disclosure?
	\|-		\|-
	\| '''Cash''' \|\| (1) Cash and Coins<br>(2) Checking Accounts<br>(3) Savings Accounts<br>(4) Money Orders<br>(5) Checks that are signed, mailed, and dated ~~as of~~ the B/S date. * \|\| Positive Value = Current Asset<br> Negative Value = <br> '''Step 1:''' Add up all the cash accounts at the same bank. <br> '''Step 2:''' Subtract overdraft amount from same bank. <br> '''Step 3:''' List each bank group balance separately on B/S. If a bank is negative, list as current liability. \|\| [[file: RedX.png \| 15px \| center]]		\| '''Cash''' \|\| (1) Cash and Coins<br>(2) Checking Accounts<br>(3) Savings Accounts<br>(4) Money Orders<br>(5) Checks that are signed, mailed, and dated on or before the B/S date. * \|\| Positive Value = Current Asset<br> Negative Value = <br> '''Step 1:''' Add up all the cash accounts at the same bank. <br> '''Step 2:''' Subtract overdraft amount from same bank. <br> '''Step 3:''' List each bank group balance separately on B/S. If a bank is negative, list as current liability. \|\| [[file: RedX.png \| 15px \| center]]
	\|-		\|-
	\| '''Cash Equivalents''' \|\| (1) Treasury Bills<br>(2) Money Market Funds<br>(3) Commercial Paper<br>(4) CD's \|\| When you take possession, it must expire in '''3 months or less'''. \|\| [[file: RedX.png \| 15px \| center]]		\| '''Cash Equivalents''' \|\| (1) Treasury Bills<br>(2) Money Market Funds<br>(3) Commercial Paper<br>(4) CD's \|\| When you take possession, it must expire in '''3 months or less'''. \|\| [[file: RedX.png \| 15px \| center]]

Admin: /* Checks */

2024-01-05T03:44:20Z

Checks

← Older revision		Revision as of 23:44, 4 January 2024
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	[[file:CheckTimeline.png]]		[[file:CheckTimeline.png]]

	Situation when a check ~~is recorded~~ as receivable rather than cash:		Situation when the payee should record the check as a receivable rather than cash:
	# Check hasn't been mailed.		# Check hasn't been mailed.
	# Check hasn't been signed.		# Check hasn't been signed.

Admin: /* Checks */

2024-01-05T03:39:58Z

Checks

← Older revision		Revision as of 23:39, 4 January 2024
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	[[file:Checks.png]]		[[file:Checks.png]]

			[[file:CheckTimeline.png]]

	Situation when a check is recorded as receivable rather than cash:		Situation when a check is recorded as receivable rather than cash:

Admin: /* Checks */

2024-01-05T03:38:22Z

Checks

← Older revision		Revision as of 23:38, 4 January 2024
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	==== Checks ====		==== Checks ====
	''' Nonsufficient funds checks (NSF)''' = also known as a bounced check. The check writer does not have enough funds in their account to cover the check. <br>		''' Nonsufficient funds checks (NSF)''' = also known as a bounced check. The check writer does not have enough funds in their account to cover the check. <br>
	''' Postdated checks''' = when the check has a future date on it. Check cannot be cashed until that date (Usually check will have the date it was written).		''' Postdated checks''' = when the check has a future date on it. Check cannot be cashed until that date (Usually check will have the date it was written). <br>
			''' Payor''' = Person or entity sending the check. <br>
	''' Payor''' = Person or entity sending the check.

	''' Payee''' = Person or entity receiving the check. ('''2 e's in receiving''')		''' Payee''' = Person or entity receiving the check. ('''2 e's in receiving''')

Admin: /* Checks */

2024-01-05T03:38:05Z

Checks

← Older revision		Revision as of 23:38, 4 January 2024
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	''' Nonsufficient funds checks (NSF)''' = also known as a bounced check. The check writer does not have enough funds in their account to cover the check. <br>		''' Nonsufficient funds checks (NSF)''' = also known as a bounced check. The check writer does not have enough funds in their account to cover the check. <br>
	''' Postdated checks''' = when the check has a future date on it. Check cannot be cashed until that date (Usually check will have the date it was written).		''' Postdated checks''' = when the check has a future date on it. Check cannot be cashed until that date (Usually check will have the date it was written).

	''' Payor''' = Person or entity sending the check.		''' Payor''' = Person or entity sending the check.

	''' Payee''' = Person or entity receiving the check. ('''2 e's in receiving''')		''' Payee''' = Person or entity receiving the check. ('''2 e's in receiving''')

Admin: /* Cash */

2024-01-05T03:37:40Z

Cash

← Older revision		Revision as of 23:37, 4 January 2024
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	''' Nonsufficient funds checks (NSF)''' = also known as a bounced check. The check writer does not have enough funds in their account to cover the check. <br>		''' Nonsufficient funds checks (NSF)''' = also known as a bounced check. The check writer does not have enough funds in their account to cover the check. <br>
	''' Postdated checks''' = when the check has a future date on it. Check cannot be cashed until that date (Usually check will have the date it was written).		''' Postdated checks''' = when the check has a future date on it. Check cannot be cashed until that date (Usually check will have the date it was written).
			''' Payor''' = Person or entity sending the check.
			''' Payee''' = Person or entity receiving the check. ('''2 e's in receiving''')

	[[file:~~CheckTimeline~~.png]]		[[file:Checks.png]]

	Situation when a check is recorded as receivable rather than cash:		Situation when a check is recorded as receivable rather than cash:

Admin: /* Cash Equivalent */

2024-01-05T02:29:09Z

Cash Equivalent

← Older revision		Revision as of 22:29, 4 January 2024
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	=== Cash Equivalent ===		=== Cash Equivalent ===

	The 3-month rule is applied when you receive the cash equivalent.		The 3-month rule is applied when you receive the cash equivalent. ('''original maturity to the holder''')
	* If, at the time you receive the asset, it has 3 months or less until expiration, classify as cash equivalent.		* If, at the time you receive the asset, it has 3 months or less until expiration, classify as cash equivalent.
	* If, at the time you receive the asset, it has over 3 months until expiration, classify as investment.		* If, at the time you receive the asset, it has over 3 months until expiration, classify as investment.

Admin: /* Cash */

2024-01-05T00:59:40Z

Cash

← Older revision		Revision as of 20:59, 4 January 2024
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	! style=width:10em \| Term \|\| Types \|\| style=width:25em \| B/S Classification \|\| Footnote disclosure?		! style=width:10em \| Term \|\| Types \|\| style=width:25em \| B/S Classification \|\| Footnote disclosure?
	\|-		\|-
	\| '''Cash''' \|\| (1) Cash and Coins<br>(2) Checking Accounts<br>(3) Savings Accounts<br>(4) Money Orders<br>(5) Checks that are signed, mailed, and dated as of the B/S date. * \|\| Positive Value = Current Asset<br> Negative Value = ~~first add~~ up all of the accounts at the same bank. ~~Then subtract the~~ overdraft. ~~If the net is positive, the net amount is listed as current asset~~. If ~~the net~~ is ~~still~~ negative, ~~then~~ current liability. \|\| [[file: RedX.png \| 15px \| center]]		\| '''Cash''' \|\| (1) Cash and Coins<br>(2) Checking Accounts<br>(3) Savings Accounts<br>(4) Money Orders<br>(5) Checks that are signed, mailed, and dated as of the B/S date. * \|\| Positive Value = Current Asset<br> Negative Value = <br> '''Step 1:''' Add up all the cash accounts at the same bank. <br> '''Step 2:''' Subtract overdraft amount from same bank. <br> '''Step 3:''' List each bank group balance separately on B/S. If a bank is negative, list as current liability. \|\| [[file: RedX.png \| 15px \| center]]
	\|-		\|-
	\| '''Cash Equivalents''' \|\| (1) Treasury Bills<br>(2) Money Market Funds<br>(3) Commercial Paper<br>(4) CD's \|\| When you take possession, it must expire in '''3 months or less'''. \|\| [[file: RedX.png \| 15px \| center]]		\| '''Cash Equivalents''' \|\| (1) Treasury Bills<br>(2) Money Market Funds<br>(3) Commercial Paper<br>(4) CD's \|\| When you take possession, it must expire in '''3 months or less'''. \|\| [[file: RedX.png \| 15px \| center]]

Admin: /* Cash */

2024-01-04T23:05:32Z

Cash

← Older revision		Revision as of 19:05, 4 January 2024
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	=== Cash ===		=== Cash ===
	==== Checks ====		==== Checks ====
	''' Nonsufficient funds checks (NSF)''' = also known as a bounced check. The check writer does not have enough funds in their account to cover the check.		''' Nonsufficient funds checks (NSF)''' = also known as a bounced check. The check writer does not have enough funds in their account to cover the check. <br>
	''' Postdated checks''' = when the check has a future date on it. Check cannot be cashed until that date (Usually check will have the date it was written).		''' Postdated checks''' = when the check has a future date on it. Check cannot be cashed until that date (Usually check will have the date it was written).

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	# Check is '''"postdated"''', meaning it cannot be cashed until a future date.		# Check is '''"postdated"''', meaning it cannot be cashed until a future date.
	# Check is returned as '''NSF''', meaning the check writer does not have enough money in their account to cash the check.		# Check is returned as '''NSF''', meaning the check writer does not have enough money in their account to cash the check.


	=== Cash Equivalent ===		=== Cash Equivalent ===