Administrative Policies & Processes for Finance Department

I. Processes Section

Notations Used in Process Maps

FN – 1. General Ledger

FN 1.1 Chart of Accounts Maintenance

FN 1.2.1 Journal Import

FN 1.2.2 Manual Journals Entries in General Ledger

FN 1.2.3 Corrective Journal Entries in General Ledger

FN 1.3 Period End Close

FN – 2. Budgeting and Financial Planning

FN 2.1 Budget Initiation

FN 2.2 Budget Preparation

FN 2.3 Budget Review, Consolidation and Approval

FN 2.4 MOF Budget Negotiation, Approval and Allocation

FN 2.5 Budget Commitments

FN 2.6 Budget Variances and Management

FN 2.7 Budget Monitoring

FN – 3. Accounts Payable and Expenditures

FN 3.1 Merge Suppliers

FN 3.2.1 Monthly Withholding Tax Filing

FN 3.2.2 Yearly Withholding Tax Filing

FN 3.3 Invoice Processing

FN 3.4 Employee Expenses Claims

FN 3.5 Debit/Credit Memo

FN 3.6 Supplier Account Reconciliation

FN 3.7 Accounts Payable Period End Closing

FN – 4. Revenue

FN 4.1 Revenue Receipts

FN 4.2 Cash/Cheques Deposit

FN 4.3 Revenue Period End Closing

FN – 5. Fixed Assets

FN 5.1 Fixed Assets Master Data Maintenance

FN 5.2 Fixed Assets Recognition

FN 5.3 Fixed Assets Physical Verification

FN 5.4 Fixed Assets Disposal

FN 5.5 Fixed Assets Period- End Closing

FN – 6. Cash Management

FN 6.1.1 Payment Section

FN 6.1.2 Payment through Bank Transfer

FN 6.1.3 Payment through Cheque Issuance

FN 6.2 Payment Void

FN 6.3 Advance Payments

FN 6.4 Receipt and Filing of a Letter of Guarantee

FN 6.5 Bank Account Creation and Update

FN 6.6 Cheque Books Request and Receipt

FN 6.7 Bank Reconciliation

FN 6.8 Cash Forecasting

FN 6.9 Cash Position

FN 6.10 Interbank Transfer – Adhoc Transfer

FN 6.11.1 MOF Letter of Credit

FN 6.11.2 Bank Letter of Credit

FN 6.12.1 Petty Cash Initial Float Setup

FN 6.12.2 Petty Cash Account Revision and Closure

FN 6.12.3 Petty Cash Replenishment

FN 6.13.1 Purchasing Card Issuance

FN 6.13.2 Purchasing Card Outstanding Balance Settlement

FN – 7. Reporting

FN – 7.1 Financial Reporting

FN – 7.2 Management Reporting and Preparation

II. Policies Section

  1. General Ledger Policies
  2. Budgeting and Financial Planning policies
  3. Accounts Payable and Expenditures Polices
  4. Revenue Policies
  5. Fixed Assets Policies
  6. Cash Management Policies
  7. Reporting Policies

For more details or getting any policy, please contact Finance Department at email:finance@ksau-hs.edu.sa