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| *Ostroff, Fair and Company>>>Financial Services |
What is the diff between a Treasury post and Accounting post? |
What is the diff between a Treasury post and Accounting post? Adding on to Abel's answer, the treasury department where I work also negotiates with banks to get the best credit and bank account deals. The treasury department wants to get the best interest rates or credit lines, loans, and interest-bearing deposit accounts as possible. They also look for good bonds to invest in. As for our accounting department, they handle the bookkeeping, recording transactions, accounts receivable, accounts payable, and financial reporting. The two departments work together quite a bit, too. For example, the treasury department sends out electronic payments for accounts payable. A treasury post has something to do with handling the cash and other assets of a business. This would include the management of payables for licenses, insurance and taxes. On the other hand, an accounting post involves keep the books of accounts of a business or organisation. Peace and blessings! Treasury is related to cash management i.e. cash receipts, bank relations, bank statement reconciliations, wire transfers etc. Treasury functions typically interact with accounting but really are a little bit out of the regular accounting function. accounting is the controllers department (accounts payable, accounts receivable, fixed assets, general ledger),, Tax, Cost Accounting internal and external reporting. Hope this helps. |
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