Accounting Cycle Case

Eaton National Bank and Trust Company was the first bank established in Preble County in 1874. The bank has branched out within Preble County and now has a total of five branches; the Main branch is in Eaton, the second branch is in West Alexandria, the third branch is in New Paris, the fourth branch is in Lewisburg, and the fifth branch is located on the north end of Eaton.

The accounting cycle is dealt with by all employees of the bank but the majority of the accounting is done within the main branch. Each branch has tellers that take loan payments for the customers. The tellers also take deposits, cash checks and make change. The tellers do not actually handle any financial statements for the bank. The tellers also have to balance the ATM on a weekly basis. They are also responsible for opening lock box accounts, vacation club and Christmas club accounts.

Next in line we have the customer service representatives whose main job is to open accounts and handle customer’s issues. The customer service representatives open accounts for the customers and change information on accounts as needed. Two of the customer service representatives handle accounts payable; they go to the post office and retrieve the mail that comes for the bank. They are also responsible to pay the monthly bills for the bank. They write out a money order written from the bank accounts and send it to the appropriate place.

We have a human resources employee who deals with the payroll and insurance for the bank employees. She creates the tickets to move money around to cover different parts of the payroll. We are required to have direct deposit for our paychecks do she makes sure that the right amount goes to the right account every two weeks.

There are three different loan departments within the banks; installment loans, commercial loans, and mortgage loans. These departments handle the loans that are specific to their departments. They open loans for our customers