to monitor whether the school has enough cash to pay its liabilities as they fall due. The principal or business manager will provide this advice. Sundry debtor trial balance This report: shows debtors (those who owe the school money) and the age of amounts owed. Review this report to: check how long the school has been waiting for payment of amounts owed to it discuss action with the principal or business manager. Family trial balance This report: shows debtors (those who owe the school money) and the age of amounts owed. Review this report to: check how long the school has been waiting for payment of amounts owed to it discuss action with the principal or business manager. Sundry debtor credit notes This report: gives details of credit notes generated for specified debtors. Review this report to: verify that credit note transactions are valid: this is an internal control. Family credit notes This report: gives details of credit notes issued for families. Review this report to: verify that credit note transactions are valid: this is an internal control. Invoices awaiting payment This report: lists invoices received but not yet paid. Review this report to: approve invoices for payment. Balance sheet This report: lists the value of the assets and liabilities at a point in time. school’s Review this report to: ask questions about any items not understood and any items which have changed greatly since previous report monitor whether current assets are greater than current liabilities indicates that the school should be – able to pay its debts
to monitor whether the school has enough cash to pay its liabilities as they fall due. The principal or business manager will provide this advice. Sundry debtor trial balance This report: shows debtors (those who owe the school money) and the age of amounts owed. Review this report to: check how long the school has been waiting for payment of amounts owed to it discuss action with the principal or business manager. Family trial balance This report: shows debtors (those who owe the school money) and the age of amounts owed. Review this report to: check how long the school has been waiting for payment of amounts owed to it discuss action with the principal or business manager. Sundry debtor credit notes This report: gives details of credit notes generated for specified debtors. Review this report to: verify that credit note transactions are valid: this is an internal control. Family credit notes This report: gives details of credit notes issued for families. Review this report to: verify that credit note transactions are valid: this is an internal control. Invoices awaiting payment This report: lists invoices received but not yet paid. Review this report to: approve invoices for payment. Balance sheet This report: lists the value of the school’s assets and liabilities at a point in time. Review this report to: ask questions about any items not understood and any items which have changed greatly since previous report monitor whether current assets are greater than current liabilities – indicates that the school should be able to pay its debts
9272DET2018%203Finance.docx