Another monthend has come to a close, and as always, the vast stupidity and vacuousness of the twat doesn’t cease to amaze me.
We received a cash payment from a client, and part of the payment was for services rendered by an affiliate of our company’s. So in essence the money has to be forwarded to the appropriate affiliate. Twat did the wire payment to forward the funds. But she also stupidly applied the cash to Accounts Receivable. So in essence my A/R is understated.
She did not process the payment through the accounting system, and there were 2 other cash deposits received on behalf of the affiliate in the month of April – but she didn’t process the wires until May.
So the end result is that three reconciliations are off:
-cash is overstated in the G/L
-A/R is understated in the G/l
-Intercompany Payable is understated in the G/L
So if anyone were to take a look at my revised reconciliations they would take note that what I reported as April YTD actuals does not balance to my P&L and Balance Sheet.
The twat, naturally, is away this week and isn’t around to answer for her stupidity. I am now tasked with doing a weekly review of her cash receipts activity to make sure that A/R and Cash are properly recorded. I seriously hope Twat gets fired for this.