It is important to keep records for future reference and also as back up for audit purposes. There should be a systematic approach to filing documents which will allow easy retrieval of information.
The following is a list of files which may be required for accounting records:
(Alpha = filing paperwork in alphabetical order; Numerical = filing paperwork in numerical order; Date = filing paperwork in date order)
- Expenses – numerical
- Floats – alpha
- Purchase Orders – numerical
- Unmatched Purchase Orders – alpha
- Unmatched Invoices – alpha
- Unpaid Invoices – alpha
- Paid Invoices – alpha
- Cheque/Bank Transfer Remittances – numerical
- Sales / Income – numerical
- Bank Account – for mandate, correspondence, statements,
- Bank and Cash Reconciliations – date
- Payslips – alpha
- Crowd Time Sheets – date
- Payroll Start Forms for cast and crew – alpha
Other files for production finance office
- Scripts
- Schedule
- Day Out Of Days (DOOD)
- Call Sheets
- Progress Reports
- HOD Statements
- Insurance
- Contracts (may be kept by Production Co-Ordinator)
Minimum Requirements
The minimum requirements for that must be adhered to in any system are:
- Unique references for all documents
- Evidence of authorisation of expenditure with a clear segregation of duties from the payment
- All cash paid out must be:
- Signed for by the person claiming
- Signed by the person paying it out
- All documents must be dated
- There must be a clear audit trail
Paying Expenses in Cash
Posting Ref: PCxxx
Forms Used: Expenses Form
Filing: Numerical Order in Expenses File
Paying Expenses by Cheque
Posting Ref: CHQxxx
Forms Used: Expenses Form
Filing:
- Numerical Order in Cheque/Bank Transfer Remittances File
- Numerical Order in Expenses File
Paying Expenses By Bank Transfer
Posting Ref: TRANSxxx
Forms Used:
- Expenses Form
- Transfer Form
Filing:
- Numerical Order in Cheque/Bank Transfer Remittances File
- Numerical Order in Expenses File
Issuing a Float in Cash
Posting Ref: PCxxx
Forms Used: Float Request Form
Filing:
- Numerical Order in Expenses File
- Alphabetical Order in Float File
Issuing a Float by Cheque
Posting Ref: CHQxxx
Forms Used: Float Request Form
Filing:
- Numerical Order in Cheque/Bank Transfer Remittances File
- Alphabetical Order in Float File
Issuing a Float by Bank Transfer
Posting Ref: TRANSxxx
Forms Used:
- Float Request Form
- Transfer Form
Filing:
- Numerical Order in Cheque/Bank Transfer Remittances File
- Alphabetical Order in Float File
Deduct Expenses from a Float
Posting Ref: DFSUR0101 use DF first 3 letter of surname and date of claim
Forms Used: Expenses Form
Filing: Alphabetical Order in Float File
Deduct/Clear Float Using Expenses and Pay Remainder in Cash
The Best Practice is for this to be split into two transactions.
(See above for details)
- First – Deduct Expenses from Float
- Second – Issue a Float for the balance
- In Cash, or
- By Cheque, or
- By Bank Transfer
Float Returned by Cash
Posting Ref: PCxxx
Filing Ref: DFSUR0101 use DF first 3 letter of surname and date of claim
Forms Used: Float Return Form
Filing:
- Numerical Order in Expenses File
- Alphabetical Order in Float File
Float Returned by Cheque
Posting Ref: DFSUR0101 use DF first 3 letter of surname and date of claim
Forms Used: Float Return Form
Filing:
- Numerical Order in Sales / Income File
- Alphabetical Order in Float File
Float Returned Directly into Bank
Posting Ref: DFSUR0101 use DF first 3 letter of surname and date of claim
Forms Used: Float Return Form
Filing:
- Numerical Order in Sales / Income File
- Alphabetical Order in Float File
Entering a Purchase Order
Posting Ref: PO number
Forms Used: Purchase Order (multipart)
Filing:
- Numerical Order in Purchase Order File
- Alphabetical Order in Unmatched Purchase Order File
Entering an Invoice
Posting Ref: Supplier Invoice number
Forms Used: Supplier invoice matched to PO
Filing:
- Alphabetical Order in Unpaid Invoices File
Paying an Invoice by Cheque
Posting Ref: CHQxxx
Forms Used: Invoice matched to PO
Filing:
- Numerical Order in Cheque/Bank Transfer Remittances File
- Alphabetical Order in Paid Invoices File
Paying an Invoice by Bank Transfer
Posting Ref: TRANSxxx
Forms Used: Invoice matched to PO
Filing:
- Numerical Order in Cheque/Bank Transfer Remittances File
- Alphabetical Order in Paid Invoices File
Income Received by Cash
If the income is from a sale of goods/services then VAT must be charged
Posting Ref: AA/nn use initials of programme, then sequential numbers starting from 01
Forms Used: Sales Invoice or Sales Receipt
Filing: Sales
Income Received by Cheque
If the income is from a sale of goods/services then VAT must be charged
Posting Ref: AA/nn use initials of programme, then sequential numbers starting from 01
Forms Used: Sales Invoice or Sales Receipt
Filing: Sales
Income Received by Transfer
If the income is from a sale of goods/services then VAT must be charged
Posting Ref: AA/nn use initials of programme, then sequential numbers starting from 01
Forms Used: Sales Invoice or Sales Receipt
Filing: Sales
Petty Cash Top Up
Posting Ref: CHQxxx
Forms Used: Float Form
Filing: Numerical Order in Cheque/Bank Transfer Remittances File
