- A cash lead schedule is to establish and agree to the Trial Balance (TB).
- Perform an analytical review of movements in the cash and bank accounts. For any movements greater that 100% of Tolerable Error (TE) obtained explanation from the client.
- Circularised the confirmations to banks and matched the balances confirmed to balance as per TB.
- Reviewed the bank reconciliation and ensure that it agrees to our TB.
- Test all reconciling items above 100% of TE. Perfomed the valuation testing of foreign currency accounts and ensured the appropriate measurement using December 31, 2021 exchange rate.
PLEASE REFER BELOW:
TRIAL BALANCE
\fBank Confirmation Letter To: Auditor of USLT Date: September 4 This letter is to confirm USLT has an account with us as of December 31, 2021. The account number and current balance was below Currency Account Number Amount Description USD USLT3 50,000 Unrestricted cash and withdrawable Anytime Your Sincerely, Eastwest BankBank Confirmation Letter To: Auditor of USLT Date: September 4 This letter is to confirm USLT has an account with us as of December 31, 2021, The account number and current balance was below Currency Account Number Amount Description PHP USLT4 200,000 Money order PHE USLT4 200,000 Money market instrument, 90 days PHP USLT4 250,000 Restricted for equipment acquisition expected to be disbursed in 2023 PHP USLT4 200,000 Treasury bills, purchased November 15, 2021 and due on March 15, 2021 PHP USLT4 200,000 Compensating Balance for Loan obtained PHP USLT4 200,000 Saving Deposit PHP USLT4 (50,000) Overdraft 1,050,000 Your Sincerely, BDOBank Confirmation Letter To: Auditor of USLT Date: September 4 This letter is to confirm USLT has an account with us as of December 31, 2021. The account number and current balance was below Currency Account Number Amount Description PHP USLT2 3,500,000 Fund for payroll Your Sincerely, BPIBank Confirmation Letter To: Auditor of USLT Date: September 4 This letter is to confirm USLT has an account with us as of December 31, 2021, The account number and current balance was below Currency Account Number Amount Description PHP USLT1 3,500,000 Fund for payroll Your Sincerely, BPIUSLT Company Bank Reconciliation December 31, 2021 Bank Balance 3,500,000 Deposit in Transit Cheque 1 1,000,000 Cheque 2 1,000,000 Cheque 3 250,000 Cheque 4 1,250,000** 3,500,000 Outstanding check Cheque 001 500,000 Cheque 002 500,000 Cheque 003 1,000,000 (2,000 000) Adjusted Bank Balance 5,000,000 ""as per customer, the cheque will be delivered on January 1, 2022 Prepared by: Accountant 1USLT Company Bank Reconciliation December 31, 2021 Account Number: USLT4 Bank Balance 1,200.000 Deposit in Transit Outstanding check Adjusted Bank Balance 1,200,000 Prepared by: Accountant 1USLT Company Bank Reconciliation December 31, 2021 Account Number: USLT3 Bank Balance 2,000,000 Deposit in Transit Outstanding check Adjusted Bank Balance 2.000,000 Prepared by: Accountant 1Bank Statement of Account Your logo here To: USLT Date: JANUARY 31, 2022 Reference: Opening Balance: Date Description Amount Payment Remaining 1/01/2021 Opening Balance 3,500,000 1/01/2022 Deposit 1, 250.000 1/01/2022 Deposit 1,000,000 1/01/2022 Deposit 250,000 1/15/2022 Withdrawal, Cheque 001 (500 000) 1/15/2022 Withdrawal, Cheque 002 (500.000) 1/31/2022 5,000,000 Subtotal Thank you for your business! Interest Total Dun Payment due by Please make payment into Bank Account No: Interest of per annum will be charged on late payments Cut here K Remittance Customer Invoice No. Amount Paid Reference Total PaidYOUR NAME VALID FOR SIX MONTH ONLY Your Address 3 0 2 1 D D M M Y Y Y Y Pay to USLT one million dollars Dollars payment for goods purchased $ 1,000,000 "00213" "01203" "000203.33" AUTHORIZED SIGNATUREYOUR NAME VALID FOR SIX MONTH ONLY Your Address 3 2 0 2 2 D D M M Y Y Pay to USLT one million dollars Dollars payment for goods purchased $ 1,000,000 "00213" "01203" "000203.33" AUTHORIZED SIGNATUREYOUR NAME VALID FOR SIX MONTH ONLY que Template High Res Stock Images | Shutterstock 3 2 0 1 D D MMY Y Y Y Pay to SIDNEE one million dollars Dollars $ 1,000,000 payment for goods purchased "00213" "01203" "000203.33" AUTHORIZED SIGNATUREPetty Cash Confirmation Letter To: Auditor of USLT Date: September 4 This letter is to confirm I have the following items in my petty cash box. Currency Account Number Amount Description PHP USLTS 3,000 Coins and bills PHP USLTS 2.000 Cashed checks PHP USLT5 2,000 Checked dated January 5, 2022 PHP USLTS 3,000 IOUs from Employee Your Sincerely, Petty Cash Custodian
