Cash Recipts Checklist

Taking Cash

  • Units who receive cash have prior authorization to receive it. I.e., Business Services, area leadership, etc. 
  • All funds received are documented in an authorized point of sale system (such as Square) or on a pre-numbered cash receipt form (such as a receipt book).
  • Monies received are not used to pay bills or expenses directly. They must be deposited into an appropriate Index, first.
  • 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 within 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.