MODACC - ACCOUNTING Ó UNCTAD – SITE (V1.15) 4.6 Introduction to ASYCUDA Accounting The  ASYCUDA  accounting  module  is  a  system  of  Cashier  Office  management,  which  enables declarations to be brought to account and duties and taxes collected. The  system  will  handle  the  payment  of  Cash  Declarations  and  also  the  payment  and  receipt  of other non-declaration related income and expenditure.  Duty  can  be  prepaid  and  credit  payments are   also   allowed   for,   permitting   the   operation   of   a   deferred   payment   scheme   for   approved declarants. The system has a series of accounting reports, which provide a method of day-to-day and/or shift- to-shift management of the cashier’s functions, for control of all revenues received and disbursed. A full audit trail is available for subsequent audit inspection. Cashier Operations The  processing  of  declarations  to  an  'Assessed'  status  creates  within  the  System  a  cash  liability equal to the amounts of duties and taxes assessed on those declarations. Through the accounting system   the   Cashier   receives   payments   for   duty   and   taxes   payable   against   the   declaration assessment notices and so writes off the cash liability. This  liability  may  be  settled  by  cash  payment,  by  debiting  the  declaration(s)  against  a  prepaid amount,  or  by  a  deferred  payment  where  credit  has  been  extended  and  release  given  against  a guarantee to pay. Another form of advice (e.g. a manual form or a form generated by another computer system) will be necessary to inform the cashier of any non-declaration related payments, such as examination fees, charges, penalties etc. The  accounting  module  also  allows  the  cashier  to  make  payments,  such  as  for  refunds  and  to adjust overpayments and the return of temporary deposits. At the end of the working day the cashier closes the cash account to balance the takings. Various reports are available for management and audit purposes. The Daybook The ‘Daybook’  records all accounting transactions  (payments  in  and  payments  out)  for  the  period when the Daybook is ‘Opened’ until it is ‘Closed’. The ‘Daybook’, in real time can be a day, or any other period set by the Customs Administration, according to their accounting practices. Normal practice is to open the daybook in the morning, at start of business, and close at the end of the business day. When the daybook is ‘closed’, cashiers can reconcile the day’s takings against receipts or the day’s transaction reports. The Daybook contains details of all the receipts issued throughout the day (the basic accounting period) for all paid declarations and other cashier transactions. Details include declarant code and name and the method of payment (cash, cheque etc) for each accounting transaction. The   Daybook   must   be   opened   in   order   to   start   the   recording   of   cashier transactions.   Select   ‘Functions’,   ‘Daybook   operations’,   ‘Open’   to   open   the Daybook. The authority to open the daybook is usually restricted to supervisors or office managers who are responsible for accounting functions. See the Chapter on  Cashier Management.