레이블이 Accounting Procedures for Banks인 게시물을 표시합니다. 모든 게시물 표시
레이블이 Accounting Procedures for Banks인 게시물을 표시합니다. 모든 게시물 표시

2013년 11월 25일 월요일

About 'banking accounting'|My friend, her book, your bank account







About 'banking accounting'|My friend, her book, your bank account








I               have               a               friend               who               makes               sixteen               dollars               an               hour               for               the               basic               bookkeeping               job               in               a               company               which               has               an               accountant,               a               senior               accountant,               and               the               Chief               Financial               Officer               above               her               position.

(I               didn't               ask               what               they               make……uhmmmm….for               obvious               reasons.)               But               the               point               is,               accounting               jobs               pay               good               money.

I               just               looked               at               an               ad               for               a               Banking/Brokerage/Investment               Accountant               that               offered               $50,000               a               year               entry               level               up               to               $               150,000               annual               salary.

Now               I               could               learn               how               to               live               with               that.

The               thing               is               they               are               looking               for               accountants               not               a               writer…..take               note               of               that.

To               get               the               high               paying               accountants               positions               like               certified               public               accountant,               certified               financial               accountant,               corporate               accountant               or               government               accountant               you               need               the               right               combination               of               education               and               experience.

To               get               an               understanding               of               how               education               and               experience               work               together               to               give               you               salary               advantages               consider               this:               
               •               a               beginning               bookkeeper               may               make               around               $25,000               a               year,               
               •               2               years               of               experience,               as               much               as               $37,000               a               year,               
               •               4               years               experience               puts               you               in               the               $42,000               to               $45,000               dollar               range,               
               •               6               years               experience               may               give               you               $50,000               to               $55,000               and               
               •               8               years               experience               may               put               you               in               the               $65,000               and               over               range.
               1.

The               salaries               quoted               here               assume               that               you               are               constantly               seeking               continuing               education               and               professional               certifications.
               To               get               started               on               reaching               these               top               salaries,               plan               your               career               like               you               would               map               a               long               and               complicated               journey.

Remember               the               end               goal;               the               top               living               wage               you               can               attain               in               your               field.

The               basic               accounting               functions               can               be               performed               after               a               good               high               school               education               if               you               included               bookkeeping               and               accounting               classes.

The               accounting               terms,               accounting               principles,               and               accounting               information               systems               will               have               been               covered               in               these               high               school               courses.

If               you               plan               on               a               career               in               the               accounting               field               you               can               get               a               job               out               of               high               school               as               a               bank               teller,               a               data               entry               clerk,               or               any               number               of               entry               level               positions.

Then               as               you               gain               experience               you               should               add               to               your               education               by               seeking               an               associate's               degree               in               Business               Administration               with               a               focus               in               accounting.

Accounting               careers               can               take               you               from               the               home               town               business               to               International               business,               to               Government               accounting               jobs.

In               fact               the               sky               is               the               limit.
               I               made               a               quick               search               of               the               employment               opportunities               in               several               communities               on               the               West               Coast               of               the               United               States               and               found               that               the               requirements               varied               from               basic               accounting               knowledge               to               a               detailed               knowledge               of               computer               and               accounting               terminology.

Employers               varied               widely               in               their               requirements               of               accounting               systems               knowledge               and               an               assortment               of               those               systems               should               be               studied               to               be               sure               you               are               marketable.

A               few               of               the               more               common               accounting               software               systems               I               noticed               in               my               quick,               and               not               really               scientific,               search               were:               
               1.

Excel               program               
               2.

Peachtree               accounting               program               
               3.

Microsoft               office               small               business               accounting               
               4.

QuickBooks
               The               beautiful               thing               about               this               is               that               as               you               gain               experience               and               education               you               will               discover               the               practice               of               accounting               remains               basically               the               same,               the               only               thing               you               will               need               to               add               for               any               specific               position               will               be               knowledge               of               the               software               they               prefer.

Of               course               as               you               progress               you               will               add               accounting               terms               and               definitions               to               your               vocabulary.

You               can               do               that               online               or               with               any               number               of               accounting               guides               and               textbooks.

Learning               the               different               software               does               not               mean               learning               accounting               all               over               again.

It               just               means               learning               the               quirks               of               the               specific               software               tools.
               Accountants               can               earn               "the               sky               is               the               limit               salaries"               by               steadily               gaining               years               of               experience               and               pursuing               continuing               education.

Different               certifications               available               to               accountants               increase               your               value               and               therefore               your               salary.

Mistakes               are               totally               unacceptable               in               accounting               (but               there               are               many               checks               and               balances               you               can               learn               to               avoid               mistakes).

Read               accounting               articles               both               online               and               in               professional               journals.

It               helps               to               have               an               affinity               for               numbers.

It               also               helps               to               be               very               detail               oriented.
               Remember               Enron?

The               Enron               accounting               scandal               highlighted               the               need               for               ethical               practices               in               accounting               as               well               as               ethical               controls               over               accounting.

As               you               continue               on               from               the               Associate               Degree               in               Accounting               level               and               pursue               your               Bachelors               and               then               your               Masters               degrees               you               will               take               many               ethics               classes               and               along               with               the               accounting               classes.

Do               not               underestimate               the               value               of               a               good               grounding               in               ethical               values.

Small               business               accounting               is               just               as               important               as               Fortune               500               accounting               and               the               adherence               to               ethics               is               equally               important.

Not               only               does               your               future,               your               reputation               and               your               career               depend               on               your               honesty,               but               the               lives,               the               savings               and               the               futures               of               many               other               people               depend               on               your               ethics               as               well.
               When               you               have               reached               several               years               experience               and               a               Masters               degree               it               is               time               to               move               on               to               the               next               step.

Pursue               a               doctorate               and               achieve               your               Certified               Financial               Advisor               certification               (if               you               don't               already               have               it).

The               "big               time"               in               money               and               prestige               is               as               high               as               you               are               willing               to               reach.

The               key               is               the               combination               of               education               and               experience.

Education               without               experience               will               still               put               you               at               an               entry               level               position,               so               begin               to               work               as               soon               as               you               can               get               that               first               job               in               high               school.

Cashier               for               a               couple               of               evening               a               week               at               the               a               local               burger               place               or               store               to               begin               to               get               experience               with               money               and               numbers,               then               as               you               gain               education               you               can               move               to               the               next               level               in               the               job               chain.

Experience               without               education               will               hold               you               down               near               the               entry               level               until               you               can               achieve               the               required               education               and               certifications               to               apply               for               the               higher               paying               jobs.

No               one               will               trust               you               with               a               job               requiring               a               high               level               of               responsibility               and               a               high               level               of               pay               if               you               do               not               show               you               can               do               it               by               demonstrating               a               good               work               ethic               and               a               thirst               for               education.

The               two               go               hand               in               hand.
               Accounting               information               is               used               by               every               person,               business               and               government               agency               in               the               world               in               one               form               or               another.

The               accountant               is               that               all               important               person               who               actually               keeps               track               of               all               the               things               that               go               into               the               nuts               and               bolts               of               business               and               personal               finance.

Two               books               to               get               you               familiar               with               beginning               accounting               information               are               Accounting               for               Dummies,               2005,               Tracy,               John,               A.,               Wiley               Publishing,               Indianapolis,               In.

and               Accounting               the               Easy               Way,               2003,               Eisen,               Peter,               J.,               Barrons'               Educational               Series               Inc.,               Hauppauge,               NY.


               Education               after               high               school               will               depend               somewhat               on               your               grades               and               finances               but               you               can               get               an               associates               degree               either               at               a               community               college               or               online               while               you               continue               to               work.

If               you               have               a               college               fund,               a               scholarship               or               other               financial               means               you               may               go               straight               to               a               four               year               university.

While               some               people               find               the               online               university               experience               impossible               due               to               self               discipline               issues,               an               accounting               student               should               have               the               organizational               ability               and               the               self               discipline               to               pursue               this               option.

What               ever               option               you               choose               remember               that               you               are               never               too               old               to               learn               and               the               day               you               stop               seeking               education               is               the               day               you               limit               your               earning               ability               to               the               "experience               only"               factor.

Education               magnifies               experience               the               same               way               experience               magnifies               education;               do               both.






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    2013년 11월 24일 일요일

    About 'bank accounting & finance'|LAZ'S 1ST BANK ACCOUNT (OUR BDO JUNIOR SAVER. TEEHEE)







    About 'bank accounting & finance'|LAZ'S 1ST BANK ACCOUNT (OUR BDO JUNIOR SAVER. TEEHEE)








    A               payroll               accountant               is               responsible               for               administering               the               company's               salary               and               wages               system               and               ensuring               that               employees               are               properly               paid.

    The               payroll               accountant               may               work               closely               with               the               personnel               or               human               resources               department,               but               is               generally               a               member               of               the               accounting,               finance               or               controller's               department.

    This               is               due               to               the               need               to               segregate               duties               and               responsibilities               as               part               of               an               adequate               internal               control               system.

    In               a               large               company               with               a               significant               number               of               employees,               the               payroll               processing               function               may               constitute               a               separate               department,               or               there               may               be               one               person               in               accounting               who               spends               all               or               most               of               his               or               her               time               performing               payroll               functions.

    In               a               smaller               business,               with               fewer               employees,               the               payroll               function               may               be               combined               with               other               administrative               duties               such               as               accounts               receivable,               accounts               payable,               and               the               cashier               function.

    These               duties               may               be               performed               by               just               one               person,               in               an               office               manager               or               similar               position.

    And,               in               many               companies               the               payroll               function               is               outsourced               to               another               company               that               specializes               in               payroll               services.

    In               a               company               that               provides               payroll               services,               the               different               payroll               functions               may               be               broken               down,               with               different               persons               specializing               in               different               areas               of               payroll.�
                   What               Does               a               Payroll               Accountant               Do?
                   The               duties               of               a               payroll               accountant               can               be               grouped               into               input               functions,               processing               functions,               and               output               functions.

    In               a               small               company               with               only               a               few               employees,               the               payroll               may               be               done               manually,               or               basic               payroll               software               may               be               used.

    In               this               case,               the               payroll               system               may               be               a               module               of               the               overall               accounting               software               package.

    In               a               larger               company               the               payroll               system               may               be               a               program               specially               developed               for               the               company.

    Regardless               of               the               payroll               processing               methods               used,               there               needs               to               be               an               administrative               control               and               review               system               in               place               to               ensure               that               the               payroll               is               being               processed               correctly,               in               accordance               with               established               parameters               and               legal               requirements.
                   The               following               are               some               examples               of               the               types               of               duties               a               payroll               accountant               will               perform,               which               can               vary               depending               on               the               type               of               system               used.�
                   Payroll               Input               
                   ï¿½               Entering               and               updating               employee               master               file               data.


                   ï¿½               Keeping               individual               and/or               electronic               files               for               each               employee,               including               the               job               application               form,               personal               resume,               offer               letter,               contract,               W-4               withholding               tax               statement,               insurance               and               other               benefit               plan               application               forms,               and               action               forms               from               the               personnel               or               human               resources               department.


                   ï¿½               Collecting               time               accounting               data               from               time               cards,               time               sheets,               time               clock,               time               reports               or               other               media.


                   ï¿½               Collecting,               assembling               and               entering,               or               controlling               the               entry               of               data               such               as               sick               time,               vacation               time               and               other               paid               time               not               worked.


                   ï¿½               Inputting               payroll               variations,               such               as               overtime               hours,               bonuses,               profit               sharing               and               other               payments.


                   ï¿½               Entering               data               for               employee               payroll               deductions,               such               as               for               health               insurance               and               other               benefit               plans.


                   ï¿½               Updating               data               used               in               payroll               calculations,               such               as               employees'               income               tax               withholding               rates               and               the               employer's               payroll               tax               burden.


                   ï¿½               Updating               employee               payroll               data               for               pay               increases               such               as               raises               in               salary               or               wages.


                   ï¿½               Assigning               general               ledger               and               cost               center               numbers               to               payroll               expense               components.�
                   Payroll               Processing               
                   ï¿½               Carrying               out               the               internal               controls               designed               for               the               payroll               system               to               ensure               accurate               processing.


                   ï¿½               Reviewing               preliminary               payroll               reports               for               accuracy               before               generating               the               payroll               run,               in               a               computerized               system.


                   ï¿½               Calculating               the               payroll               in               a               manual               system.


                   ï¿½               Making               the               necessary               arrangements,               communicating               requirements,               and               coordinating               with               a               payroll               service               if               the               payroll               function               is               outsourced.�
                   Payroll               Output               
                   ï¿½               Preparing               the               checks               or               bank               transfers,               and               payroll               stubs               or               statements               in               a               manual               system.


                   ï¿½               Receiving               paychecks               or               bank               transfer               notices               from               a               computerized               payroll               system,               or               from               an               outside               payroll               service.


                   ï¿½               Reviewing               payroll               reports               and               paychecks               for               accuracy               and               completeness.


                   ï¿½               Distributing               paychecks               or               bank               transfer               notices,               and               pay               stubs               or               pay               statements               to               employees.


                   ï¿½               Preparing               the               accounting               entry,               or               reviewing               the               computer-generated               entry               to               record               the               payroll.


                   ï¿½               Arranging               for               bank               transfers               to               cover               the               payroll               cost.


                   ï¿½               Answering               employees'               questions               about               their               paychecks.�
                   What               Are               the               Working               Conditions               Like?
                   A               payroll               accountant               works               in               an               administrative               capacity,               in               normal               office               conditions.

    While               the               payroll               accountant               will               normally               report               to               the               controller,               finance               manager,               or               to               a               senior-level               accountant               in               the               accounting,               finance,               or               administration               department               of               a               larger               organization,               the               payroll               function               may               be               part               of               a               multi-task               administrative               position               in               a               smaller               organization.

    In               this               case,               the               payroll               function               may               be               combined               with               accounts               receivable,               accounts               payable,               bookkeeping,               and               other               administrative               duties.
                   The               payroll               position               carries               with               it               a               great               deal               of               personal               responsibility,               and               the               payroll               accountant               must               be               capable               of               assuming               this               responsibility,               often               working               under               pressure               to               meet               deadlines               for               having               all               payroll               entry               data               posted               in               time               to               run               the               payroll               process               and               pay               the               employees.�
                   What               Are               The               Requirements?
                   The               person               in               charge               of               payroll               must               have               general               knowledge               of               labor               laws,               payroll               taxes               and               benefit               plans,               and               specific               knowledge               of               company               policies               and               procedures               regarding               salary               and               wages               and               benefit               plan               administration.

    A               working               knowledge               of               computer               systems               as               a               user               is               needed.

    If               the               company               has               a               specialized               payroll               computer               system,               the               payroll               accountant               must               clearly               understand               the               procedures               and               steps               to               be               followed               in               using               the               system.�
                   Accounting               Degree
                   An               accounting               degree               is               not               necessarily               required               to               be               a               payroll               accountant,               although               many               times               the               person               in               charge               of               payroll               may               be               a               degreed               accountant               or               may               be               pursuing               an               accounting               degree.

    But               it               is               possible               for               a               person               with               knowledge               of               the               company's               payroll               system               and               the               associated               administrative               internal               control               system,               to               make               a               career               in               payroll               without               having               a               degree.�
                   Confidentiality               
                   
                   One               of               the               most               important               qualities               for               a               payroll               accountant               is               discretion               in               handling               confidential               information.

    The               payroll               accountant               has               access               to               information               on               employees               that               few               other               persons               have,               and               this               information               must               be               protected.�
                   Organizational               Ability
                   Another               important               trait               is               organization               and               the               ability               to               handle               and               process               information               in               a               timely,               complete,               and               orderly               manner.

    While               payroll               procedures               are               repetitive               by               nature,               the               payroll               accountant               must               ensure               that               all               changes               are               properly               handled               each               pay               period               in               order               to               ensure               that               all               employees               are               paid               the               correct               amount.

    In               this               sense,               the               payroll               accountant               must               possess               a               well-developed               sense               of               responsibility               and               self-initiative.�
                   People               Skills
                   People               skills               are               important               in               coordinating               with               other               members               of               the               accounting               department,               with               the               personnel               or               human               resources               department,               and               with               members               of               other               departments,               at               different               levels               in               the               organization.

    The               payroll               accountant               will               also               deal               directly               with               employees               when               questions               arise               regarding               their               pay,               and               there               may               be               occasional               contacts               with               insurance               companies,               outside               benefit               plan               administrators,               and               other               receivers               of               payroll               deductions               and               employee               obligations,               such               as               court-ordered               withholding.

    The               payroll               person               may               also               have               contact               with               governmental               taxing               authorities.�
                   What               Are               The               Prospects?
                   There               is               always               a               need               for               qualified               payroll               accountants,               no               matter               how               automated               the               payroll               system               may               be.

    The               payroll               process               requires               human               intervention               to               input               new               hires,               update               the               files               for               terminated               employees,               input               changes               in               levels               of               remuneration,               promotions               and               other               changes               for               existing               personnel,               changes               in               personal               data               that               affect               benefit               plans,               tax               withholding               and               other               deductions.

    And               there               must               be               a               person               responsible               for               ensuring               that               the               payroll               process               is               carried               out               in               an               effective               and               timely               manner,               according               to               pre-established               criteria               and               procedures,               and               satisfying               internal               controls.�
                   Accounting
                   Payroll               accounting               can               be               a               career               in               itself,               especially               in               a               large               company               with               a               payroll               department,               or               in               a               payroll               service               company.

    And,               experience               as               a               payroll               accountant               can               lead               to               a               higher-level               position               in               the               accounting               or               finance               department               of               a               larger               organization.�
                   Human               Resources
                   A               person               who               has               worked               in               payroll               could               also               take               a               different               direction,               leading               to               a               career               in               human               resources.

    The               experience               gained               in               working               with               the               company's               salary               and               wages               administration               system,               time-keeping,               employee               deductions,               and               benefit               plans,               can               be               good               preparation               for               working               in               human               resources�
                   Office               Manager
                   If               the               payroll               function               is               performed               as               one               of               several               administrative               functions,               experience               in               payroll               will               make               the               person               more               experienced               and               qualified,               and               therefore               more               valuable               in               any               overall               administrative               role.

    Combining               payroll               experience               with               experience               in               accounts               receivable,               accounts               payable,               and               bookkeeping               is               very               good               preparation               for               an               office               manager               or               similar               position.






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