Supplement - Routines of Bookkeeping Flashcards Preview

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Flashcards in Supplement - Routines of Bookkeeping Deck (6)
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1
Q

What are some of the typical daily routines

A

Receiving Mail

Distribution of Documents

Entering Purchase Invoices

Entering Sales Invoices

Making Deposits

Issuing Checks

Payroll

2
Q

What are Some Monthly Routines?

A

Monthly Remittances

Posting and Balancing

3
Q

What is Receiving Mail?

A

It’s to check to see if any checks or invoices are in the mail and without this process, documents could be misplaced or not handled until they become critical.

4
Q

What is Distribution of Documents?

A

it’s when a Document is stamped by a specifically design stamp for the company

5
Q

What stamp is put on all checks received by the company?

A

For deposit to the credit of XY Consumer Products

6
Q

What kind of Monthly Remittances are due?

A

Payroll deductions, Provincial Sales Tax, and Goods and Services Tax