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.