Tools

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.
• 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 upon receipt.

Preparing Deposits

• Receipts and cash are reconciled daily, and deposits are submitted with three working days.
• 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.
• Secure 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.