RUS Borrower Accounting (Electric) (Self-Paced)
IDACCT8211

Module 1: RUS Books of Account

• Introduction to the principal books of account used by RUS borrowers
• Overview of the General Ledger and General Journal systems
• Structure and use of Specialized Journals and Journal Voucher systems
• Explanation of Cash Received Records and Check Registers
• Subsidiary records including Accounts Payable Register and Consumers' Ledger

Module 2: Accounting for Cash

• Internal controls for managing cash and ensuring data integrity
• Procedures for receiving, depositing, and documenting cash transactions
• Roles of office personnel in handling cash, ledgers, and daily reconciliations
• Posting and reconciling accounts receivable with the General Ledger
• Establishing controls between cash receipts and consumer account balances

Module 3: Bank Reconciliations

• Step-by-step bank reconciliation process
• Identifying and resolving discrepancies between bank statements and ledger
• Handling outstanding checks, deposits in transit, and service charges
• Importance of accurate and timely reconciliation procedures

Module 4: Depositories and Disbursement Controls

• Requirements for federally insured depositories
• Policies for managing large balances and selecting multiple depositories
• Best practices for issuing voucher checks and wire transfers
• Internal documentation and approval procedures for disbursements

Module 5: Cash Fund Accounts and Payroll Disbursements

• Maintaining separate cash accounts for general and construction funds
• Establishing payroll accounts and handling direct deposits
• Tracking membership fees, deposits, and reimbursement transactions
• Clearing cash transactions through appropriate ledgers and accounts