Today we want to continue talking about the fund and its additional deficits
What is a fund?
The fund is a type of cash asset and it is current
It is usually used for partial payments and receipts, but it is always only partial
At the end of time, this fund may differ from the numbered fund according to the books
What does that mean??
It means that the remaining amount may be less than the actual remaining amount
If the balance according to the books is more than the actual balance
they say
Deficit fund
Book balance>Actual balance
There are two types of fund deficits:
If the fund deficit is the responsibility of the fund manager
Practically, registration is not done in the offices
Why? Because when you pay a certain amount to the cashier, they say, Mr. Inobgir, if you have a deficit, it doesn’t matter if you have a deficit, solve it yourself.
So if the deduction is the responsibility of the cashier
There is no registration
If the deficit is the responsibility of the company
It can be registered:
Debtor’s additional deductions**
Creditor’s Fund**
Extra having a fund:
Actual balance>book balance
In this case, they say that the actual balance is more than the balance according to the book, and there is an additional fund
It is registered:
debtor fund**
Additional deductions from the creditor’s fund**
How to deal with additional fund deficits:
If the additional deduction is a debtor
Register to close:
Other expenses **
Creditor’s additional deductions**
If the creditor’s additional deduction balance:
To close it:
Debtor’s additional deductions**
Creditor’s income**
Let’s take an example:
Company A uses the fund account for its receipts and payments
Calculations:
Registering and closing the fund’s additional account
Received 1200,000 cash for providing services
Paying the bill 40,000 in cash
Received demand for the amount of 60,000
If the actual ending balance is 1280,000
Registering and closing additional fund deductions:
Fund 1200,000
Income 1200,000
Registration for receiving cash for providing services
The cost of the bill is 40,000
Fund 40,000
To pay the bill
Fund 60,000
Account receivable 60,000
for receiving the request
Fund balance:
1200,000+60000_40000=1220,000
Actual balance
1280,000
1280,000_1220,000=60,000
Because the actual balance is more, so there is more
Registration:
Fund 60,000
Additional fund deficit of 60,000
If the balance of the credit fund’s additional deductions is 60,000, its registration will be closed:
Additional deductions of 60,000
Income 60,000
Well, for example, he said that the actual balance is 400,000 and the book balance is 350,000
Why did we have a deficit??
Because the real one is less
For closing additional deductions:
400,000 – 350,000 = 50,000
The cost is 50,000
50,000 additional deductions
Let’s take another example:
The balance according to the fund book is 60,000, the actual balance is 65,000
It is known that the payment of the bill in the amount of 5000 has not been registered
And for the provision of services in the amount of 15,000 in cash, it has not been registered
Calculations:
Closing additional fund deficits
Well, let’s solve it:
He said that he did not apply the bill
The cost is 5000
5000 fund
There is also a receipt
Fund 15,000
15,000 receivables
Fund balance:
60,000_5000+15000=70,000
The real remnant
65000
The deficit is less because it is real
70,000_65000=5000
Close:
The cost is 5000
5000 additional fund deductions
Part of the subject of the additional fund
Kari from Moztaz accounting channel group
@hesabdarimomtaz
This post is written by Huryyy00