Cash Receipts Checklist
Taking Cash
- Units who receive cash have prior authorization to receive it.
- All funds received are documented on a pre-numbered cash receipt form or in a cash register.
- Receipts are not used to pay bills or expenses of any kind.
- Unit procedures prohibit check cashing (unless specifically exempted, such as main cashier).
- Certain information, as defined by management, is obtained before a check is accepted.
- Voided transactions are approved, before completing the transaction, by someone other than the person receiving the funds.
- Cash refunding and cash receiving duties are separated and refunds are independently authorized.
- Checks are restrictively endorsed (by putting a “For Deposit Only, 91¶ÌÊÓƵ” stamp on the back of the check) upon receipt.
Preparing Deposits
- Receipts and cash are reconciled daily, and deposits are submitted with three working days, or daily if receipts exceed $500.
- Cash shortages are reported to supervisor and when necessary Campus Police.
- Unit retains a copy of the deposit and compares it with the Main Cashier receipt.
- Accounting reports are reconciled monthly to copies of deposits.
- Deposits are reconciled daily to sales.
- Locked transfer bags are used to transport deposits to the cashier.
Security of Cash
- Each cash fund is accessible to only one person.
- Cash funds are kept locked except when authorized custodian is using it.
- Cash receiving and accounting duties are separated.
- Knowledge of safe combinations should be restricted, and combinations should be changed often, especially when turnover occurs.
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