Ministry of Higher and Secondary Special Education of the Republic of Uzbekistan Tashkent State University of Economics

3.3 Accounting of funds on the settlement account of LLC "Pana Moda"

Analyzing the receipt and expenditure of funds from the settlement account of LLC "Pana Moda", we can say that the following accounts are used for cash flow operations on the settlement account: "Cash register"; "Financial investments"; "Settlements with suppliers and contractors"; "Settlements with buyers and customers"; "Settlements on long-term loans and borrowings"; "Settlements on taxes and fees", etc.

Table 6 shows the main correspondence on banking operations of LLC "Pana Moda", issued from the bank statements provided in January 2021.

Table 6. Scheme of accounting transactions for accounting transactions on the settlement account

№	Content of operations	Documents on the basis of which accounting records are made	Amount, USD	Corresponding accounts
				Dt	KT
1	The excess cash balance of the cash register has been deposited	Bank statement, receipt	4700	"Settlement accounts"	"Cash Register"
2	Funds were received for products sold, works performed, services	Bank statement, payment order	7200	"Settlement accounts"	"Settlements with buyers and customers"
3	Received funds for the realized tangible assets	Bank statement, payment order	2600	"Settlement accounts"	"Settlements with buyers and customers"
4	Bank loan credited	Bank statement, loan agreement, payment order	15000	"Settlement accounts"	"Settlements on short-term loans and loans"
5	Advances from buyers have been credited	Bank statement, payment order	15000	"Settlement accounts"	Settlements with buyers and customers
6	Suppliers' payment documents have been paid	Bank statement, payment order	1274	"Settlements with suppliers and contractors"	"Settlement accounts"
7	Payments to the budget are listed	Bank statement, payment order	317	Settlements on taxes and fees	"Settlement accounts"
8	Erroneously credited amounts have been debited	Bank statement, payment order	1392	Settlements on claims	"Settlement accounts"
9	Loan arrears have been repaid	Bank statement, payment order	7000	"Settlements on short-term loans and borrowings"	"Settlement accounts"
10	Payment for banking services	Bank statement, payment order	1277	Other expenses	"Settlement accounts"
11	The UST debt has been transferred	Bank statement, payment order	2000	Settlements on social insurance and security	"Settlement accounts"

The basis for accounting records on the "Settlement Account" account are bank statements with attached documents. Extracts are issued daily. Upon receipt of the statement, the accountant of the organization carefully checks the relevant documents that are the basis for the payment.
The accounting register for transactions on the settlement account in LLC "Pana Moda" is the journal - order No. 2. The journal - order serves to reflect credit turnover on the account "Settlement accounts" in the context of corresponding accounts. At the end of the order log, the debit turnover of the "Settlement Accounts" account is reflected in a special section.
At the end of the month, the monthly turnover amounts are displayed in the order log, which are then transferred to the General Ledger. Before transferring to the General Ledger, the accountant checks the credit turnover according to the journal-order No. 2. On the loan, the turnover is recorded in the total amount, at the same time all the amounts that make up this turnover are recorded in the debit of the corresponding accounts. After transferring the data, all entries in the order log are certified by the executor and the chief accountant.
The current account accumulates free cash and receipts for products sold, works and services performed, and other deposits. Almost all payments of the organization are made from the settlement account: payment to suppliers for goods, repayment of budget arrears, receipt of money to the cashier for the issuance of wages, material assistance.