Effective Bank Reconciliation & Petty Cash Management And Mechanisms for Receipts & Payments Control

22 Feb, 2021, Webinar Classroom Training

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Mr. Suhaini Kasmuri is a certified corporate trainer and business consultant specializes in accounting and finance, design thinking and leadership development. He speaks passionately on people development, leadership behavioural change and innovation skills development for leaders and managers particularly with finance focus. He has vast experience as a commercial practitioner in dynamic public and private organizations (local and MNC) specialized in the areas of corporate finance, treasury and strategic planning.

Mr. Suhaini is currently a Senior Consultant focusing on accounting and finance related programs. He has held several key Senior Management Level Positions including Chief Financial Officer of ACASIA Communications Sdn Bhd, and Fiberail Sdn Bhd, a subsidiary company of Telekom Malaysia.

Mr. Suhaini is a PSMB certified and approved trainer who has successfully fulfilled all the assessment requirements for Train The Trainer. He is a Chartered Accountant of the Malaysian Institute of Accountants. He holds an MBA from Asia E University Malaysia and a Bachelor Degree in Accounting from University of Technology MARA Malaysia.

Training conducted by him are well received by participants for his practical and applicable job-related contents that are delivered in an interactive and engaging manner. Mr. Suhaini exerts considerable influence on finance and innovation skills with his pleasant persona during training to ensure accelerated learning experience.

Venue Details

Webinar Classroom Training

Contact us

Juliany,
M - 012 2281 247
juliany@ipa.com.my

Michelle,
M - 019 363 7822
michelle@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Yvonne,
M - 012 201 1247
yvonne@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

FOCUSING ON
  • MODULE 1: BANK RECONCILIATION

    • Introduction
    • Mechanics of Bank Reconciliation
    • Steps for Preparation of Bank Reconciliation
    • Actions Required Following Completion of Bank Reconciliation

    MODULE 2: PETTY CASH MANAGEMENT

    • Introduction
    • Mechanics of Petty Cash Imprest System
    • Effective Management & Control of Petty Cash

    MODULE 3: EFFECTIVE MECHANISM FOR RECEIPTS & PAYMENTS CONTROL

    • Internal Control Mechanism Over Sales & Receipts
    • Ensuring Accuracy of Data for Sales & Receipts
    • Dealing with Foreign Currency Receipts
    • Internal Control Mechanism Over Payments
    • Capturing Data for Payments via Cheques, Direct Debits & Transfers
    • Use of Computer-Aided Techniques – Pros & Cons (AP System)
    • Effective Cash Management

      A Certificate of Completion with 7 hours CPD points will be awarded upon completion.
OBJECTIVE

This 1-Day intensive online course is targeted at accounting staff who are responsible in day-to-day bookkeeping specifically in managing financial records related to receipt and payment transactions, bank reconciliation and petty cash management. Despite having academic qualifications, the skillset required to perform their work on these areas could effectively be obtained through experiential learning exposure as compared to what they learned in colleges or universities.



This course is primarily intended for the participants to have better grasp and understanding on the basic accounting principles and practices and their application in the workplace. The course will not only cover practical accounting and bookkeeping skills but also emphasizes on control framework and mechanisms for effective receipts and payment, bank reconciliation and petty cash management.



In order to improve their efficiency in accounting and book keeping, the participants will also be learning the proper accounting process and systematic procedures & mechanisms for management and control over internal funds. Finally, as the course is delivered with real-world context of class exercises to ensure high impact learning outcomes, the course is well structured to meet its intended objectives to all participants.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Acquiring practical accounting skills for managing cash and bank accounts effectively.
  2. Understanding the Double-Entry System of Book Keeping process and applying it to every business transaction in the workplace.
  3. Understanding the Systematic Procedures & Mechanisms for management and control over Internal Funds.
  4. Knowing the Purpose and Importance of Periodic Adjustments to Accounting Records.
  5. Having a clear understanding of the Basic Accounting Principles and Financial Terms.
WHO SHOULD ATTEND
  • Accounts Clerks
  • Accounts Assistants
  • Accounts Supervisors
  • Office Administrators
  • Secretaries
  • Junior Accounts/Finance Executives
  • Non-Financial Executives
METHODOLOGY
  • Interactive Lectures
  • Individual & Group Activities
  • Group Discussions
  • Case Studies
  • Exercises
COURSE CONTENT
9:00

MODULE 1: BANK RECONCILIATION
INTRODUCTION TO BANK RECONCILIATION

  • The Most Important & Efficient Tool for Internal Control
  • Responsibility to Perform Bank Reconciliation
  • Objectives of Bank Reconciliation
  • Format of a Bank Reconciliation Statement
  • The Significance of Control Balances
10.30

MECHANICS OF BANK RECONCILIATION

  • Cash Book Statement – Source of Entries And Accounting Financial Transactions
  • Bank Statement – Source of Entries and Brief Explanation of Bank’s Format
  • Steps for Preparation of Bank Reconciliation
  • Matching Receipts and Payments by Non-Cheque Payments
  • Techniques to Track Down Unidentified Transactions
  • Ensuring Complete List of Unreconciled Items
  • Actions Required Following Completion Bank Reconciliation
  • Advantages & Disadvantages of Bank Reconciliation
  • The Importance of Bank Reconciliation
1:00 Lunch
2:00

MODULE 2: PETTY CASH MANAGEMENT
INTRODUCTION TO PETTY CASH

  • The need Petty Cash Floats
  • How to Set Up A Petty Cash Account
  • Internal Controls Surrounding Petty Cash Including Maintaining Appropriate Books of Records and Documents
  • Internal Controls Over Handling and Safekeeping of Cash
2.30

MECHANICS OF THE PETTY CASH IMPREST SYSTEM

  • Various Books of Records Required
  • Illustration of Transaction Trail Through the Various Books
  • Principles of an Imprest (Float) System and How it Works
  • Reimbursement of Petty Cash Floats and Key Control Figures
  • Posting of Petty Cash Entries to the General Ledger
  • How to Investigate Shortages and Trace Causes for Such Shortages
  • Effects of Online Purchasing Applications to Petty Cash Management
  • Effective Petty Cash Management
3.30

MODULE 3: EFFECTIVE MECHANISMS FOR RECEIPTS & PAYMENTS CONTROL

  • Internal Control Mechanism Over Sales & Receipts
  • Ensuring Accuracy of Data for Sales & Receipts
  • Dealing with Foreign Currency Receipts
  • Internal Control Mechanism Over Payments
  • Capturing Data for Payments via Cheques, Direct Debits & Online Transfers
  • Use of Computer-Aided Techniques – Pros & Cons (AP System)
  • Effective Cash Management for Short Term Investment Opportunities & Minimize Interest Cost
4.30

Case Study & Group Exercises

5.00

End of Course

INSTITUTE OF PROFESSIONAL ADVANCEMENT IPA as a professional body is dedicated to continuing education, training and development of all success-driven organizations and individuals. Certificate of Completion with 7 hours CPD points will be awarded upon completion.