Finance Questionnaire Final UKUS1

8/9/2019 Finance Questionnaire Final UKUS1

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Questions to Client Replies / Comments UK Replies / Comments US Bu

yes yes

What is the basis for your vendor category breakdown?

Are vendors categorized for reporting purposes? yes no

yes no

How do you record taxes within the GL?

yes no

yes no

Direct Debits, tanding !rders, "A#, $$

How do you %atch purchase order infor%ation to A2invoice infor%ation?

via goods inwards receipts and 2! order34endor invoice processed using A20D screen-5nter vendor 6, invoice 6, invoice date and 2!6- #orrect 2! /ocated enter 1ty, unit price asper invoice, detai/s ca/cu/ated, resu/t invoice%atched to 2!-

via goods inwards receipts and 2!order34endor invoice processed using A20D screen- 5nter vendor 6, invoice 6,invoice date and 2! 6- #orrect 2!/ocated enter 1ty, unit price as perinvoice, detai/s ca/cu/ated, resu/t invoice%atched to 2!-

How do you %atch vendor infor%ation to your fixedassets syste%s when purchasing assets?

7ixed Assets are treated in the sa%e way asgoods purchase- 2! raised and vendorinvoice %atched as above- preadsheet isupdated upon receipt of vendor invoice-

7ixed Assets are treated in the sa%e

way as goods purchase- 2! raisedand vendor invoice %atched as above-preadsheet is updated upon receipt ofvendor invoice-

Do you want to be ab/e to update or change theaccounting distribution infor%ation for /ine ite%s in yourpurchase orders?

grouped for def/ation reporting intoe/ectronics58Dindirect%eta//ic%eta/snon3%eta//icsourced productinterna/

a/phabetica/ by vendor na%e, nu%erica/by vendor 0D no-

Are vendors categorized for financia/ trackingpurposes?

What are the re1uire%ents for reporting tax pay%ents9e-g- co%pany, rate or tax authority:?

4A$3 %onth/y returns and business ratesannua/ invoice paid over .( %onths-

a/es tax is paid when bi//ed- 0f no tax isbi//ed we accrue tax and pay a use taxto the state

yste% generated fro% A2 and %anua/ ;ourna/s 3 GL vat input ac

tax invoices posted to specific GLaccounts

0s there a re1uire%ent to support %u/tip/e bankaccounts?

0s there a re1uire%ent to support foreign currency bank

accounts?

What disburse%ent 9docu%ent: types are current/yprocessed through these bank accounts?

4endor invoice, expense reports, debit%e%os and vendor credit %e%os

purchasing %anager authorises ter%s ie<

K Rajini Rao:Discuss in detail as tothe application of theuse tax



0s there a re1uire%ent to process 2artia/ 2ay%ents? no no

0s there a re1uire%ent to process 2re32ay%ents? yes #!D ship%ents

yes no

What is the current procedure for vendor advances? na

na

Do you have a priority syste% for pay%ents? no no

once per week

%onth/y na Are a// invoices paid in /oca/ currency? )o- 2aid in G" pounds, 5uros @ Do//ars yes

yes yes

no no

no no

0s there a re1uire%ent to prioritise pay%ents? no no

Who enters invoices and how often? Accounts 2ayab/e c/erk 3 dai/y A2 3 dai/y

Do you receive invoices at a centra/ /ocation? yes yes

fi/ed in vendor order in fo/ders fi/e cabinet

yes "i//ed to distinct co%panies

How %any invoices per period do you enter? &+(=(( %onth approx- .+( per week

0s there a re1uire%ent to process ecurring 2ay%ents?

Advance pay%ent is processed via A2D tothe appropriate vendor ac in A2

How are vendor advances reconci/ed when the invoiceis sub%itted?

0nvoice is processed to vendor ac and%atched to advance pay%ent via A22A-

What is your current pay%ent cyc/e? 9How often do youprint checks?:

5very & weeks . s%a// ie< 5xpenses, #ouriers@ . /arge 8ain upp/iers

0f recurring pay%ents are used, what is the nor%a/

period cyc/e for these pay%ents?

0swi// there be a re1uire%ent to use %u/tip/ecurrencies?

Do you have a %ini%u% or %axi%u% pay%ent a%ountper check?

What is the po/icyprocedures for hand/ing stoppay%ents?

#heck with bank to ascertain che1ue is notcashed- Write che1ue back to /edger-

no po/icy- #heck with bank to ascertainche1ue is not cashed- Write che1ueback to /edger-

What is the po/icy procedures for hand/ing voidpay%ents if they have been recorded?

4oid pay%ents are written back using A2#4screen reference to che1ue and cash setnu%ber-

A2 voids in fourth shift 9A2#4:, thenvoids in 7/eet windows

What is the po/icy procedures for hand/ing voidpay%ents if they have not been recorded?

4oid %anua/ che1ues are attached tocounterfoi/ in che1ue book as physica/evidence-

no po/icy- A2 voids in fourth shift9A2#4:, then voids in 7/eet windows

Do you pay any vendors on a priority basis according tofunds avai/ab/e?

How do you physica//y store invoices once entered into

the co%puter? Are invoices bi//ed to distinct co%panies, cost centersor other?

Do you have security re1uire%ents on who can enter



Do you perfor% &, =, or way %atching of invoices? = = way

yes

both both

yes yes

yes yes

dai/y dai/y

Do you use #ash or Accrua/ "ased Accounting? Accrua/ based accounting Accrua/

detai/ detai/

When do you start your A2 c/ose? = days prior to G5 fisca/ %onth end /ast Wednesday of the %onth

Do you have any docu%entation on your A2 c/ose? yes yes

Do you a//ow posting invoices back to prior periods? no no

yes no

What other audit re1uire%ents are needed? dup/icate invoicespay%ents

Do you need to restrict access to certain functions? yes Ces

Which vendors shou/d be grouped and why?

current, .3=(, =.3>(, >.3E(- E(F

0s there a need to define any additiona/ aging periods? no no

Do you current/y have any to/erance /eve/s for%atching? 92rice $o/erance, uantity !rdered$o/erance, uantity eceived $o/erance, or $ax$o/erance?:

Ces- 7or certain custo% %anfactured ite%s ,eg< cartons, /abe/s, %eta/ %achine parts F3.('

Wou/d you /ike to approve your invoices on3/ine, bybatch or have both options?

What is the interna/ approva/ process for an invoice inyour organization at present?

8atched against 2! or signed off by aDirector-

proper depart%ent %anager signs offbased on 8atrix

Are there situations where an invoice needs to bep/aced on ho/d and then %anua//y re/eased?

Describe the approva/ process when invoices need tobe p/aced on ho/d and %anua//y re/eased?

8anua/ he/d invoices wou/d need to beapproved by the 2urchasing 8anager

A2 puts on ho/d in fourth shift, re/easesfro% ho/d upon %gr- Approva/

Where an invoice needs to be p/aced on ho/d and then%anua//y re/eased, can these invoices be posted tothe Genera/ Ledger?

How often do you post infor%ation to your Genera//edger?

Do you post 9or wish to post: in detai/ or in su%%ary tothe genera/ /edger?

0s there a re1uire%ent to track dup/icate vendorinfor%ation within the 2ayab/es syste%?

grouped for def/ation reporting intoe/ectronics58Dindirect%eta//ic%eta/snon3

%eta//icsourced productinterna/7or the purpose of 0nvoice Aging eports, what agingperiods are current/y in use?

%onth/y aging, %onth/y unvouchedaging



na Approved by %anager and 7inance

Do your e%p/oyees have co%pany credit cards? no yes

How are co%pany credit cards hand/ed? na $hrough standard G5 processes

How are these reconci/ed when the expense c/ai% issub%itted?



Questions to Client Replies / Comments UK Replies / Comments US

What types of custo%ers do you have? #ash and credit custo%ers Distributors, end users and ot

How do you group your custo%ers for credit /i%itscredit checks? we donBt group the% )A

How do you group your custo%ers for state%ents? a/phabetica/ )A

dont charge current/y We do not charge interest cha

How do you group your custo%ers for pay%ent ru/es? as per our credit ter%s )A

How %any custo%ers do you have? =((=( =+((

What type of pay%ent ter%s do you provide? 4aries

Do you provide sp/it ter% pay%ent ter%s? no )o

Do you provide discount pay%ent ter%s? no )o

yes but this is done %anua//y Ces

no )o

no Ces

Do you send custo%ers state%ents? yes Ces, #har/otte send state%en

Do you have %u/tip/e re%it tos? yes Ces

How are %u/tip/e re%it tos deter%ined for each custo%er? a%ount is sp/it between cust accounts #hecks to one re%it to, wire e

What credit infor%ation is tracked for each custo%er? trade references D@" rating, credit /i%it, days t

yes, but %aintained on 8icrosoft Word Ces

Who has access to your custo%er database? sa/es office personne/ a/es, #usto%er ervice, 7ina

How do you group your custo%ers for interest charges for /atepay%ents?

2ay%ent of the price and 4A$ sha// be be due on orbefore de/ivery un/ess otherwise agreed when it sha// bewithin thirty days of the date of the invoice

Do you auto%atica//y nu%ber new custo%ers as they arecreated?

Do you auto%atica//y nu%ber custo%er business purposes asthey are created?

Do you create reciproca/ custo%er re/ationships whenever youcreate a re/ationship between custo%ers for tracking purposes?

Do you have a prospect syste% separate fro% the receivab/escusto%ers?

How do you receive notice to creategenerate an invoice to bi// a

the process 048# is run within th shift after the ite%has been shipped, this notifies thshift that an invoiceneeds to be raised $he invoice is then printed when an

the process 048# is run withinbeen shipped, this notifies thbe raised $he invoice is then



Do you use Debit 8e%os? no )o

How are Debit 8e%os accounted for? na )A

Why are Debit 8e%os used? na )AWhat ite%s appear on Debit 8e%os? na )A

Do you use #usto%er Account #redit 8e%os? yes Ces

How are #usto%er Account #redit 8e%os used? to represent returned ite%s, price corrn, discounts etcJ #usto%er ervice issues #red

Why are #usto%er Account #redit 8e%os used? to correct invoices, %ove cash, to c/ear 0W!

What ite%s appear on #usto%er Account #redit 8e%os?

Do you enter invoices in batches? yes CesHow are batch invoices defined? syste% generated batch no- yste% defined

each as standard ty and unit price

yes Ces

yes )o, defau/ts to so/d to

Do you bi// custo%ers in a foreign currency? yes Ces

no euro

How %any invoice types do you have? & .

How fre1uent/y do you invoice your custo%ers? dai/y dai/y

How do you track sa/es revenue on invoices? How is it reported? arir reportsa/e @ orders report evenue is tracked by produc

What different shipping %ethods do you use? 2ost, courier, air freight, sea freight

How do you nu%ber your invoices? nu%erica//y, syste% generated nu%e%ric

Do you have standard defau/t /ine ite%s that you use? yes )o

both )o

What type of units of %easure do you use? each as standard 1ty and price

$o credit returned %ateria/ or custo%ers account

a%t, reason for raising credit, #redit note nu%ber, date,tax, cust no-, cust na%e and address

returned product, credit for pritax

What are the units of %easure you use when you bi// custo%ersfor products andor services?

Do you re1uire taxes to be estab/ished for use when preparinginvoices?

Do you va/idate the tax rate against a #usto%erBs hip $oaddress when preparing invoices?

Are there any other foreign currency issues regarding invoicegeneration?

I2, DHL, 7ed5x, 7reight 7ose/ected carrier

Do you have standard defau/t /ine ite%s that you use or are %ost/ines free for%at?

D h diff i h d / d d



Who %aintains your va/id pay%ent ter%s? What are they? #redit contro/, =( days of the date of invoice G50 and #har/otte varies

What paper stock is used to print the invoices? pre printed continua/ = part 2reprinted invoice for%s

What re%it to address is assigned for your invoices? G5 2roti%eter 2/c address

Do you assign shipping charges for your invoices? yes Ces

How are shipping charges ca/cu/ated? %a;ority fixed #a/cu/ated fro% shipping %ac

How do you ca/cu/ate your tax charges? What are the rates? syste% generated tax rates are enter into the sy

How do you keep your tax rate infor%ation up to date? through th shift %aintenance $ax rates are changed when n

Why are credit %e%os used? to a%end invoices, %ove cash or 0W! $o enter returns and correct e

genera/ /edger coding for%at of xx3xx3xx3xxxx

How are ad;ust%ents to c/osed periods hand/ed? processed in next period Ad;ust%ents %ade in current

no Ces, these are service contrac

When do you recognize revenue? at ti%e of ship%ent to custo%er

How %any Genera/ Ledger accounts do you distribute to? = =+

When do you create or recognize outstanding receivab/es? When product is shipped an i

on/y earned revenuedocu%ent sa/es revenue ac nos- Ces, service contracts

Do you have unbi//ed receivab/es? vatinterest on G5 cashpoo/ )o

no Ces

Do you assign non3revenue credit to sa/es peop/e? no )o

How do you %aintain and assign sa/espeop/e to custo%ers? na At the order /ine ite% /eve/

Do you track a/es $erritory 0nfor%ation? week/y po/e reports Ces

sa/es by country reports ep #ode

Where are the invoices printed? How %any printers and whereare they? 2re3printed for%s? on one dot %atrix printer in sa%e office, yes pre3printedfor%s G50, . printer used and it /ocaCes we use preprinted for%s

7or pay%ents by check< G5 G.&.&> #o//ections #enter Driv

How are the revenue, receivab/e, freight and tax accountsconfigured for each invoice type?

revenue is by product /ine, frefreight or tax account

Do you ever recognize revenue fro% a sing/e transaction over%u/tip/e periods?

' per %onth exa%p/e if .& %o..& per %onth

create debtor at ti%e of ship%entreview dai/y unti/c/eared by pay%ent

Do you distribute earned and unearned revenue? What are theGL accounts?

0s revenue assign%ent associated with sa/es peop/einfor%ation?

How is a/es $erritory 0nfor%ation for tracking purposes derived?9for exa%p/e, custo%er, sa/esperson, and so on:



How do you assign co%%issions? we dont by product and rep code

yes Ces

re1uest a refund in writing )A

Do you send custo%ers state%ents? yes Ces

Do you ever ad;ust receivab/es? no, except throught bad debt write off Ces

How do you ad;ust receivab/es? through bad debt write off #redit %e%os, write3offs

Do you /i%it the a%ounts when ad;usting receivab/es? Ces

What do your agings /ook /ike? ee attached

Do you have %u/tip/e re%it tos? yes Ces

How are %u/tip/e re%it tos deter%ined for a custo%er? a%ount is sp/it between cust accounts "y pay%ent %ethod

What credit infor%ation is tracked for each custo%er? aging credit /i%it and pay%ent histor

Do you charge finance charges? not at present )o

How do you charge finance charges? na )A

Do you send dunning /etters to custo%ers? yes Ces

Do co//ectors active/y ca// custo%ers on de/in1uent ite%s? yes Ces

a %anua/ diary syste% is kept )otes on ite% and or account

%anua/ 7o//ow up f/ags can be set to a

no Ces

Do you %onitor your co//ectors perfor%ance? yes Ces

Do you auto%atica//y deter%ine the genera/ /edger accounts for

specific transactions 9for exa%p/e, receivab/es, freight, tax,unearned revenue, unbi//ed receivab/es, and so on: during0nvoice 5ntry?

How do you enter%anage a credit a%ount owed to the custo%erby your co%pany?

credit ba/- shows on cust acc- and is refunded upon are1uest in writing

p/ace against custo%er A "a%onths it is %oved to the #us

How do you enter%anage a credit a%ount owed to yourco%pany by the custo%er

depends on write offs, the syste% wi// auto%atica//ywrite off a debit ba/ance /ess than -EEp

custo%ers are p/aced into buckets depending on age ofdebt

What is the process for tracking actions to co//ect on de/in1uentaccounts?

0s the process for tracking actions to co//ect on de/in1uentaccounts auto%ated?

Do ter%s and conditions of custo%er agree%ents andorpay%ent ter%s change based upon the status of their accounts?



Do you use Debit 8e%os? no )o

How are Debit 8e%os accounted for? na )A

Why are Debit 8e%os used? na )AWhat ite%s appear on Debit 8e%os? na )A

Do you use #usto%er Account #redit 8e%os? see /ine &E Ces

How are #usto%er Account #redit 8e%os accounted for? see /ine =(

Why are #usto%er Account #redit 8e%os used? see /ine =. $o credit returns, price varianc

What ite%s appear on #usto%er Account #redit 8e%os? see /ine =& part nu%ber, description and a

How are ad;ust%ents to c/osed periods hand/ed? see /ine >& )A

a// "oth

Do you use %ore than one bank account andor cash account? no Ces

Do you have custo%ers who pay other custo%ersB invoices? no Ces

Do you use /ockboxes? no Ces

How %any /ockboxes do you use? na .

che1ue, cash, creditdebit cards, bacs, tts checks, credit cards, achs, wi

How do you receive and input pay%ents?

Do you receive deposits andor prepay%ents? we receive pre pay%ents Ces

Do you receive non3custo%er re/ated pay%ents? yes Ces

How are non3custo%er re/ated pay%ents accounted for? %anua//y entered onto syste% %anua/ ;ourna/ entry when ch

How do you hand/e pay%ents without re%ittance infor%ation? refer to A /edger ca// the custo%er

#redit %e%o is app/ied againsinvoices

How do your custo%ers genera//y pay invoices?sing/e check 33sing/e invoicesing/e check 33 %u/tip/e invoices%u/tip/e checks 33%u/tip/e invoices

What types of pay%ents are received and input? 9for exa%p/e,check, cash, and so on:

post, bank state%ent, cc report- 0te%s are %anua//yentered onto syste%

#hecks received into bank /ocdifferenct bank account, credikeyed by bank and trans%itte

"arc/ays are notified and investigate the pay%ent on



dup/icated entries are reversed after verification 2ay%ents are on/y reversed i

How often do you ad;ust pay%ents? na )A

How often do you reverse pay%ents? infre1uent/y )ot often

How %any pay%ents do you receive in a %onth? between *+( to E(( &(((

How %any checks are returned by the bank in a period? none, & received in /ast year . every = to %onths

What are the reasons for checks being returned by the bank? insufficient funds )7

Who app/ies cash? #redit contro//er #ash app tea%

How is cash app/ied? %anua//y

no Ces

see /ine *E

see /ine ( )A

Do you send dunning /etters to custo%ers? see /ine E. Ces

no Ces, pay%ent ter%s and sa/es

yes Ces

yes Ces

Do you do check custo%er credit prior to entering an order? syste% auto%atica//y checks Ces

Do you take orders on/y fro% approved custo%ers? yes Ces

Do you use the invoice as a ship confir%ation to the custo%er? yes Ces

Do you a//ow partia/ pay%ents of invoices? no Ces

When do you send the invoice- With each ship%ent? yes Ces

How %any bi//3toBs do you %aintain for each custo%er? . bi// to

What are your po/icies and procedures about reversingpay%ents?

Meyed by bank and f i/e trans%app/ied %anua//y by cash tea%

Do you create chargebacks 9Debit 0te%s: for custo%erdeductions?

How do you enter%anage a credit a%ount owed to the custo%erby your co%pany?

#redit re%ains on A for > %o#usto%er Advance Account

How do you enter%anage a credit a%ount owed to yourco%pany by the custo%er

Do you defau/t other infor%ation 9pay%ent ter%s, shipping, tax:at the #usto%er Leve/?

#an this infor%ation be changed and updated at the ti%e oforder entry?

Do you re1uire hard copy of the custo%er purchase order prior toorder entry?

we on/y have the faci/ity to have one bi//ing address percusto%e account a/though we are ab/e to have anu%ber of ship to addresses



7ro% our 8A yste%

0s a hard copy credit %e%o issued? yes Ces

How do you group your custo%ers for credit /i%its, credit checks? see /ine )A

How do you group your custo%ers for state%ents? see /ine + )A

no Do not charge interest or finan

How do you group your custo%ers for pay%ent ru/es? by age of debt igned #ontracts or 2!

Do you send custo%ers state%ents? see /ine.+ Ces

Do you receive deposits andor prepay%ents? see /ine ..> Ces

How does the credit depart%ent get the return goodsinfor%ation?

goodsin return docket with custo%er correspondence ispassed to custo%er service for the credit to be raised

How do you group your custo%ers for interest charges for /atepay%ents?



Bullet Points / Notes Gaps (Prima faci)

is it not by creation of the ship transaction in fshift??

exa%p/es??



Autoinvoice to be schedu/ed ???



what are they?

0nternationa/ a/es ep "a/ances



What are the ad;ust%ents

What are the ad;ust%ent and approva/ /i%its



reference /ine no-

reference /ine no-

reference /ine no-

reference /ine no-

reference /ine no-

What is A#H- Are the credit card pay%ents a/so co%ing in through the bank trans%ission or Lockbox





reference /ine no-reference /ine no-

reference /ine no-

reference /ine no-



Questions to Client Replies / Comments UK Replies / Comments US

8anua//y using "est 7ixed Assets

)eed to review current process to pr

no Ces

in /ine with our accounting proceedures

yes )o

0& hour =( %inutes

few %inutes Dont Mnow

hard c/ose oft

processed in the next period )A

in /ine with our accounting proceedures )A

yes )o

????????? )A

7inance 8anager #ontro//er

7inance 8anager #ontro//er

How do you %aintain your 7ixed Asset Accounting

data?

asset detai/s %aintained on spreadsheet, accounted for in

su%%ary /eve/ within th shift genera/ /edger

Which operationsprocesses do you want to strea%/inefor 7ixed Asset Accounting?

%anua/ interface between spreadsheet and co%putersyste%

)eed to understand what !rac/e is chand/ing

Which operationsprocesses do you want to e/i%inatefor 7ixed Asset Accounting?

%anua/ interface between spreadsheet and co%putersyste%

Are there any ti%e3intensive 7ixed Asset Accountingoperationsprocesses that need to be addressed?

How do you c/ose an accounting period for 7ixed Asset

Accounting?

Add new 7ixed assets to "est and pe

depr- eports0s the schedu/e to c/ose an accounting period for 7ixed

Asset Accounting docu%ented?

How /ong does it take to c/ose an accounting period for7ixed Asset Accounting?

How /ong shou/d it take to c/ose an accounting periodfor 7ixed Asset Accounting?

0s c/osing an accounting period for 7ixed Asset Accounting a hard c/ose or a soft c/ose?

How are ad;ust%ents to c/osed periods for 7ixed Asset Accounting hand/ed?

How do you open an accounting period for 7ixed Asset Accounting?

0s the schedu/e to open an accounting period for 7ixed Asset Accounting docu%ented?

How /ong does it take to open an accounting period for7ixed Asset Accounting?

Who perfor%s the tasks associated with opening an

accounting period for 7ixed Asset Accounting?

Who perfor%s the tasks associated with c/osing anaccounting period for 7ixed Asset Accounting?



asset purchasesdisposa/sdepreciation Detai/ eporting of depr and asset va

asset purchasesdisposa/sdepreciation co%p/ete asset /isting

no )o

yes Ces

no

no Ces

Do you have a specia/ na%e 9a/ias: for each category? no

How is your corporate and tax infor%ation stored now? ???????????? "est 7A yste%

th shift, exce/, word Hard copy of invoices, Asset $ags

What is the current accuracy of your asset infor%ation? .((' .(('

What are your prorate conventions? )A

no )o

What are your 7ixed Asset Accounting reportingre1uire%ents with respect to su%%ary or detai/for%ats? 2rovide report /isting-

What reports do you current/y generate to %eet your7ixed Asset Accounting reporting re1uire%ents?2rovide exa%p/es of each- 0nc/ude source 9cou/d be%anua/:, user, fre1uency, or nu%ber of copies-

0s there any 7ixed Asset Accounting reportingre1uire%ent that your current set of reports does not%eet?

Are your asset categories uni1ue for each co%bination

of asset cost account in your genera/ /edger,depreciation %ethod, usefu/ /ife and prorateconvention?

Are fixed assets which use the sa%e asset account inyour genera/ /edger, ever sp/it into %ore than onegroup for accounting or tax depreciation purposes?

Do you group fixed assets which use different assetaccounts for reporting purposes?

Ces, !ffice 51uip, Leaseho/d 0%pr-, 2$oo/ing, #o%puter, #02

What syste%s are you using to store asset, vendor,e%p/oyee and /ocation infor%ation now?

/ong /easeho/d /and @bui/dings9over period of/ease:p/ant@%achinery9= to * years:fitting @e1uip%ent9

to years %otor vehic/es9+ years:

Do you have any depreciation cei/ings? 7or /uxuryite%s?

What are your 0nvest%ent $ax #redit rates, recapture



yes Ces

>+( &+( and the nu%bering se1- is (((NN

no Ces

no Ces

What basic infor%ation about each asset do you store? type, va/ue, date of purchase, vendor

Are your fixed assets /ocated in severa/ countries? no Ces

How do you nu%ber your fixed assets? se1uentia//y (((NNNDo you have physica/ tags on your fixed assets? yes Ces

Do you track /eased assets using !rac/e Assets? no )o

.+ years .EE(

yes Ces

Do you associate your fixed assets with vendors? yes )o

yes )o

see above "est 7ixed Assets

th shift, exce/, "est 7ixed Assets

cost centerdept )o

What are your %onth/y reporting re1uire%ents? asset purchasesdisposa/sdepreciation !rigina/ A%t, %onth/y Depr, tota/ depWhere are your fixed assets /ocated? in pre%ises at 8ar/ow and at subcontractors9too/ing: Wi/%ington, IM, Hann

How do you report property va/ues for tax purposes? na Ces

Do you depreciate /eased ite%s, or /easeho/di%prove%ents?

How %any fixed assets does your co%pany own? How

are they nu%bered?

Do you need to track fixed assets that are notdepreciated?

Do you track different infor%ation for different types offixed assets?

Description, seria/ 6, asset /ocation, d%ethod, etc-

What is your o/dest date p/aced in service for yourfixed assets?

Do you have standard depreciation for your fixedassets?

Do you use %u/tip/e currencies when purchasing,depreciating, reporting or posting financia/ infor%ationabout you fixed assets?

What syste% do you use present/y to do your fixedasset accounting?

What syste%s do you use to track and inventory yourfixed assets?

Does your current syste% track asset possession bye%p/oyee, depart%ent, or cost center?



8anua//y entered into syste% fro% #

in su%%ary u%%ary

one .

one .

Do you ad;ust depreciation in your tax books? no Ces

no )o

%onth/y 5very uarter

between . and + 4aries

never rare/y

never 0f #orporate changes usefu/ /ife or de

never are/y

How %any retire%ents do you do per period? between . and = 4aries

expense catch up in current period 5xpense catch3up in current %onth

yes Ces

5xp/ain the accounting structure and reporting %ethodsused to conso/idate your asset cost and depreciationexpenses?

each c/ass of asset has a uni1ue genera/ /edger code forba/ance sheet cost and depreciation and for p@/ acdepreciation

Do you post your asset financia/ infor%ation insu%%ary or detai/ to your genera/ /edger?

How %any corporate depreciation books do you%aintain? 0f %ore than one, why?

How %any different tax depreciation books do you%aintain in each of your co%panies? How are theyused?

Do you %aintain any other types of depreciation or

asset va/uation books?

How often do you ca/cu/ate depreciation for corporateaccounting, tax, and capita/ budgeting purposes?

How %any fixed assets do you purchase eachaccounting period?

How often do you transfer /arge nu%bers of fixedassets fro% one person, cost center, or /ocation toanother?

How often, and for what reasons, do you change fixedasset depreciation %ethod or /ife for a sing/e asset?

How often do you change the usefu/ /ife, depreciation%ethod, or prorate convention of a// fixed assets in acategory?

Do you a%ortize ad;ust%ents %ade in the prior periodover the re%aining usefu/ /ife of the asset or do youexpense the catch3 up depreciation in the current

period?

Do you want your fixed assets auto%atica//y addedfro% your feeder Accounts 2ayab/e syste%?



Bullet Points / Notes Gaps (Prima faci)







Documents

Finance Questionnaire Final UKUS1