Bookkeeping

Revolut

Naming conventions

When saving an invoice, please follow the naming convention.

Cash logs

This section implements the Cash Handling Process.

Open a cash log

1. Print a cash log template.
2. Record the account name in "Account".
3. Record the opening date of the reporting period in "FROM".
4. Record the openning balance:
   • 0 if you open a new account.
   • report the balance of the previous cash log if you continue an existing cash log

Record a transaction in a cash log

1. Make sure you went through all steps of the Cash Handling Process.
2. Record the date and the time at the logging time.
3. Increment the transaction number by 1 from the previous line. If the cash log is new, report the last number of the previous cash log.

If you take money from the account to pay for goods or services:

1. Record the Name of the receiving entity in "Paid to".
2. Record the purpose of the expense.
3. Write the amount taken from the account in "EUR > OUT".
4. Calculate and record the new balance of the account in "Balance".
5. Record your name in "By"

If you deposit money into the account :

1. Record the Name of the paying entity in "Rcpt from".
2. Record the purpose of the received funds.
3. Write the amount deposited in the account in "EUR > IN".
4. Calculate and record the new balance of the account in "Balance".
5. Record your name in "By"

Close a cash log

1. Calculate and record the total sum of IN.
2. Calculate and record the total sum of OUT.
3. Calculate and record the total balance by doing total IN - total OUT. This amout should be the same as the last line of logs.
4. Count the cash and record your name in "By".
5. Record the difference if any, or write 0 if none and record your name in "By".
6. Calculate and record the reimbursement amount in case of a difference and record your name in "By".
7. Record the exact balance in "Balance forward" and record your name in "By".
8. Record the closing date of the reporting period in "TO".

Control a cash log

Controlling a cash log should be done by 2 people while respecting the Cash Handling Policy.

To controll a cash log is the same procedure of closing a cash log without "Paid to/ Rcpt from", "IN" and OUT". The purpose should be "Cash log control".