other monetary funds refer to the monetary funds of an enterprise other than cash on hand and bank deposits, and are important indicators for investors to analyze and judge the financial situation of the enterprise. When analyzing other monetary funds, we must first find out the subjects to which it belongs, so what kind of subjects do other monetary funds belong?
what are the subjects of other monetary funds?
other monetary funds are asset subjects, and the accounting contents include bank draft deposits, cashier's check deposits, credit card deposits, letter of credit deposit deposits, foreign deposits, and investment deposits.
what do other monetary funds include?
other monetary funds include bank draft deposits, cashier's check deposits, credit card deposits, letter of credit deposit deposits, investment deposits and foreign deposits.
1. Bank draft deposit refers to the draft drawn by the issuing bank and paid unconditionally to the payee or holder according to the actual settlement amount at sight.
2. A cashier's check deposit refers to a sight draft issued by a bank to unconditionally pay a certain amount to the payee or holder.
3. Credit card deposit refers to the money that an enterprise deposits into a special bank credit card account to obtain a credit card.
4. Letter of credit deposit refers to the amount that an enterprise deposits into a special bank letter of credit deposit account to open a letter of credit by means of letter of credit settlement.
5. Deposit of investment funds refers to the funds that an enterprise deposits into a special investment account opened by a bank designated by a securities company in accordance with relevant regulations to purchase stocks, bonds, funds, etc.
6. Foreign deposits refer to the funds remitted by the enterprise to the bank where the goods are purchased, which are used for temporary or sporadic purchases.
General verification methods for other monetary fund business
mainly include the following methods:
1. Check various deposit journals to verify whether it is necessary to open various special accounts. For example, whether the deposits in other places are opened for temporary and sporadic procurement of materials, and whether the L/C deposits are really opened for international settlement of import and export trade.
2. The enterprise is required to provide various written documents to verify whether the opening of various special accounts has gone through proper examination and approval procedures and whether the amount is reasonable.
3. extract multiple transactions from journal records, verify their original vouchers and bookkeeping vouchers, and verify whether the funds paid by depositors are reasonable, that is, whether they are used according to their original purposes, whether they conform to the bank's settlement system, whether settlement procedures are handled in time after the purchase business is completed, and whether there is illegal fund transfer.
4. For the monetary funds in transit, the authenticity of the formation of the monetary funds in transit should be verified according to the remittance notice of the remittance unit, whether the monetary funds are recorded in the account in time after the occurrence, whether the monetary funds in transit are cancelled in time after being received, and if the long-term account is not cancelled or the payment is not received, the reasons should be found out.