In addition, a comprehensive review of the receivable and payable accounts is being conducted to prevent netting off of the accounts payable against the accounts receivable and vice versa.

Accounts payable

(b) Disbursements shall be recorded in the accounts as of the date when they are made, that is, when the cheque is issued, transfer is effected or cash is paid out.

The amounts in statement II under accounts payable include amounts due to other agencies, as follows, in United States dollars

As mentioned, above, the accounts receivable function would be transferred from the Payments Unit to the Accounts Unit.

(i) It is required to separately list the beginning balance, ending balance and proportion to total amount of payables according to their categories (like other payables and advance payments, etc.)

A provision for a possible write off of this receivable is included in accounts payable.

Pending the disbursement of the funds, 1,000,000 of this amount is shown under accounts payable other .

For the year 2004, three reconciliations were required (a) between the accounts payable ledger and the imprest cash book (b) between the general ledger (accounts payable account) and the bank statements and (c) between the due to due from account on the UNOPS and UNDP general ledger.

Provision for uncollectible contributions receivable

In paragraph 43 of the report, the Administration agreed with the Board's recommendation that it review accounts payable with abnormal balances to ensure that they are promptly adjusted in the books or recovered if they represent overpayments.

Whenever an advance payment is agreed to, the reasons therefor shall be recorded.

The Finance Section has instituted measures to ensure that the accounts receivable and accounts payable are separated and posted in the respective accounts when first entering transactions in the accounting system.

The full amount of the advance is maintained in the accounts receivable from staff members until such time as the staff member produces the required proof of entitlement to the education grant, at which time the budgetary account is charged and the advance recovered.

Pursuant to decision GC.8 Dec.10, this amount is added to accounts payable established for this purpose in 1999.

The Registrar shall maintain a record in the accounts of all commitments for future financial periods (rule 111.7) which shall constitute the first charges against relevant appropriations once these are approved by the Meeting of States Parties.

The proposed transfer of the accounts receivable function to a new sub unit within the Accounts Unit would offer some relief in the workload of the Unit.

A fully developed receivables function would create a clearly defined recovery process which would then be managed independently of the payment process.

As part of the realignment, the accounts receivable function would be transferred from the Payments Unit to the Accounts Unit and, at the same time, enhanced.

(a) All disbursements shall be made by cheque, by wire transfer or by electronic funds transfer except to the extent that cash disbursements are authorized by the Registrar.

When the Atlas general ledger becomes fully functional, the last two reconciliations, between the general ledger and bank statements and UNOPS and UNDP due to due from accounts, will commence.

The accounting for advances made to UNDP and the recording of expenditure in UNHCR books has been done through successive steps.

In the unlikely event of the claim not being settled, full provision has been made within accounts payable other .

a transaction involving an international payment or a postal transfer

The first instalment of 1,220,000 due from the Austrian Government towards the replacement of carpets and cables at the Vienna International Centre is reflected within accounts receivable other .

Maintenance of record of commitments for future financial periods

The primary tasks of the Payments Unit are (a) maintenance of payroll and accounts payable receivable (b) making miscellaneous and daily payments (c) calculation and application of cost of living and other adjustments and (d) processing and maintenance of after service health insurance records.

(i) Accounts receivable other

(e) Accounts receivable other

Any resultant unrealized gain is not recorded as income for the period, but set aside within accounts payable other .

The Swiss buyer, after inspection and approval of the wood, placed an order for only 200 cubic metres and paid the advance payment by ordering a bank transfer for 70 per cent of the corresponding reduced price.

Ongoing process improvements include the regular reconciliation of amounts due to from United Nations accounts (para. 52), the prompt clearance of outstanding inter agency reconciling items (para. 150) and the regular monitoring of long outstanding advances (para.

Accounts receivable are presented in statement II, net of a provision of 2,581,147 for doubtful accounts receivable comprising

(d) Review the accounting for advances to UNDP (para. 71)

(d) Review the accounting for advances to UNDP (para. 71)

The policy of making an allowance of 10 per cent of non United States dollar denominated outstanding accounts receivable as at 31 December as a provision for delays in the collection thereof, is discontinued effective 31 December 2003.

According to the Law on the System of Payments and Payment Organizations the Money remittance transfer service can operate outside the banks only after being licensed by the Central Bank.

At all times, Member States would be credited the full amount tendered to the bond trustee, regardless of the assessment set aside for debt servicing purposes.

(ii) it is required to list the proportion of the amount of receivables of different ages (less than one year, 1 2 year, 2 3 years and more than three years) to the total amount of receivables, and the amount and proportion of overdue receivables and

Note 12 Other receivables

Commitments of 420,038 representing legal obligations for which disbursements will be made in future years were entered into prior to 31 December 2004.

Financial contributions to accounts established under Article 18 shall be payable in freely convertible currencies and shall be exempt from foreign exchange restrictions.

Note 6 Provision for accounts receivable

It would also be responsible for the monthly reconciliation of receivable and revenue accounts.

Review the accounting for advances to UNDP (para. 71)