Apr 07, 2022
In General Discussions
Day cut, simply put, is the time when the system switches from the current working day to the next working day and changes the system accounting time. In traditional banking business, daily operations need to have an end time. After this time, it is necessary to centrally process the unfinished business of the day, clear the accounts of the day, and make all preparations for accepting the business of the next day. , update the accounting date to the next day, this process is the day cut. In the early days, banks could only handle business at the counter, and the time for accepting business followed the business hours of the branch. The branch would not accept the business of the day after get off work on the same day. After all the branches got off work on the same day, the bank completed the batch processing at the end of the day, and it could be cut by day. Date work during this period is relatively easy. Now that you have access to various channels such as online banking, mobile banking, and payment systems, you can process banking business. At this time, the accounting system is required to be supported 24 hours a day. To achieve daily cutting under 7*24 hours, the earlier counter processing will be relatively complicated. Generally, the double balance method is adopted, and the current balance, the last update date and the previous day's balance are set in the sub-account. When transaction occurs and day-end batch processing, compare the transaction date with the latest update date. The specific methods are as follows: Time selection of day-cutting: Generally speaking, the time of day-cutting will be selected as the trough of daily business occurrence. It can also be combined with the actual situation of the product. We consider that when external Phone Number List customers look at their account flow and balance, they usually take 0 points as the start and end of each day, which will make it easier to understand the concept of 0 points, so choose 0 points. Point as a day cut. The trial balance Trial balance is a method of checking whether account records are correct by summarizing and comparing the amounts and balances of all accounts according to accounting identities. The accounting identity can be flexibly changed according to the accounting elements actually used by the company on the basis of "Assets = Liabilities + Owner's Equity". For example, for business needs, we add a common class of subjects, and the equation becomes "Assets + Common Class = Liabilities + Owner's Equity + Income - Expenses" The formula for trial balance: Total debit opening balance of all accounts = Total credit opening balance of all accounts Total debits of all accounts = Total credits of all accounts Total debit ending balance of all accounts = total credit ending balance of all accounts In the era of manual accounting, the trial balance needs to be checked by compiling a trial balance. The format of the trial balance is as follows, which will include the opening balance, current period and ending balance of all accounts. After the trial calculation, if the total amount in columns 2/3, 4/5, and 6/7 of the table is equal, the trial is balanced.