Quantcast Balancing of Cash Funds

Click Here to
Order this information in Print

Click Here to
Order this information on CD-ROM

Click Here to
Download this information in PDF Format

 

Click here to make tpub.com your Home Page

Page Title: Balancing of Cash Funds
Back | Up | Next

Click here for a printable version

Google


Web
www.tpub.com

Home

   
Information Categories
.... Administration
Advancement
Aerographer
Automotive
Aviation
Combat
Construction
Diving
Draftsman
Engineering
Electronics
Food and Cooking
Math
Medical
Music
Nuclear Fundamentals
Photography
Religion
USMC
   
Products
  Educational CD-ROM's
Printed Manuals
Downloadable Books

   


 

Share on Google+Share on FacebookShare on LinkedInShare on TwitterShare on DiggShare on Stumble Upon
Back
Sample DD Form 2657, Daily Statement of Accountability (back)
Up
Disbursing Clerk 1 & C - Military manual for administrative purposes
Next
Daily Agent Accountability Summary
You   have   read   only   a   summary   of   the responsibilities of DOs and CDOs for submitting the required  financial  reports.  Many  more  factors  and important  procedures  are  involved  with  these  reports before a DO submits them to his or her designated CDO. In the following sections, we will take a look at some of  these  requirements. ACCOUNTABILITY REPORTS All DOs are considered to be agents of the Treasury. Each DO is accountable to the Treasury for the cash items  (including  receivables)  in  his  or  her  possession. Consequently,  every  DO  must  follow  certain  prescribed procedures  for  maintaining  accountability.  We  will now look at some of these procedures and their required documentation. BALANCING OF CASH FUNDS Although  all  Navy  DOs  are  responsible  for  the balancing  of  cash  funds,  the  requirements  and procedures  for  carrying  out  this  responsibility  are  not the same for all DOs. The balancing requirements are based on whether the DO is located ashore or on board a  ship.  We  will  look  first  at  the  general  balancing requirements  and  then  at  the  requirements  for  afloat  offices. General  Requirements Cash in the possession of all DOs shall be balanced daily. To do this, DOs will use the Daily Statement of Accountability, DD 2657, as the permanent written record.   A   DO   must   also   account   for   documents representing   cash. (One   example   of   documents representing cash are receipts for advances to agents.) A DO remains responsible and accountable for these documents even though they may not be physically in the DO’s custody. Documents representing cash will be kept in the DO’s safe and accounted for daily on the Daily  Statement  of  Accountability,  DD  2657,  and monthly on the Statement of Accountability, SF 1219. When the DO’s accounts are inspected, the DD 2657 will be presented to the inspectors for examination. In  reality,  most  cash  transactions  are  performed  by deputies, agents, and cashiers. For deputies, agents, and cashiers,  the  Daily  Agent  Accountability  Summary,  DD Form  2665,  is  the  prescribed  daily  accountability document. Daily, a deputy, agent, or cashier will submit the DD Form 2665 to the DO using the Statement of Agent Officer’s Account, DD Form 1081, as the covering transmittal document. Except in the case of some afloat units,  the  DO  or  primary  deputy  will  balance  all deputies, agents, and cashiers daily, using a DD 2665. Aboard Ship The DOs aboard ship will also use the DD 2665 to balance  all  deputies,  agents,  and  cashiers.  Whenever workload and manning conditions permit, DOs aboard ship are encouraged to balance all deputies, agents, and cashiers   on   a   daily   basis. Regardless   of   the circumstances, however, DOs aboard ship are required to balance all deputies, agents, and cashiers at the following  specific  times: Once  each  week Immediately before and after each payday The last day of each month At any other time the DO suspects an irregularity has occurred Remember, these times represent the minimum requirement for DOs aboard ship. This means DOs aboard ship must balance all deputies, agents, and cashiers no less frequently than at each of these times. DAILY  STATEMENT  OF  ACCOUNTABILITY The  Daily  Statement  of  Accountability,  DD  2657, is   very   similar   to   the   monthly   Statement   of Accountability, SF 1219. In fact, the DD 2657 is to one day what the SF 1219 is to one month. If the DO should cease operations on that day, the U.S. Treasury would look on the DD 2657 for the amounts it would seek to recover from that DO. Refer to figures 7-1 and 7-2 for a sample DD 2657. Amounts on the DD 2657 are reported at a summary level  only,  including  a  summary  of  all  disbursements and collections made during the business day by the DO and  all  reporting  deputies,  agents,  and  cashiers. Detailed   transactions   are   reported   by   the   DO’s subsidiary records. Section I of the DD 2657 computes the DO’s accountability to the Treasury at the end of the business   day. The   accumulated   DD   2657 accountability on the last day of the accounting period (Month-to-Date  column)  is  the  accountability  reported on the SF 1219. Section II (for the current DO) and Section III (for all prior DOs of that disbursing station symbol number [DSSN]) summarize the elements that make up total DO accountability. Sections II and III are totaled in Section IV. Section I totals (except for line 1.0, Accountability—Beginning of Day) will start with a zero balance at the beginning of each new accounting period (month) and whenever there is a change of DOs before the end of an accounting period. 7-5

Privacy Statement - Press Release - Copyright Information. - Contact Us - Support Integrated Publishing

Integrated Publishing, Inc.