steps to follow for the cash
TRANSCRIPT
Verify that the cash notes are authenticThe person that accepts the counterfeitnotes, must be held responsible.Use cash registers where necessary Tills must be balanced daily Cashiers need a float to start dailyDo not involve cashiers when money iscashed upAny OVER or UNDER amounts must beinvestigated immediately and keeprecords thereof
Steps to follow for the cashprocedure:
Cashiers should count moneyimmediately when receiving money fromcustomersDuring cash ups money needs to becounted againEmpty tills when they are fullManagers need to check floatsrandomly during the day.
Steps to follow for the cashprocedure:
Money in safe – there needs to be twosets of keys.Money takings should always be lockedaway in sealed plastic bags.If cashiers work with cash, no othercashier should work in her workingstation.If a cashier receives a float, they mustsign for it.
Steps to follow for the cashprocedure:
COD Cashiers
Relief Cashiers
Cashiers
Petty Cash Custodians
Banks keep customers updated onthe amount (balance) in their bankaccount. A bank will do this with a
bank statement.
Name and address of businessAccount numberOpening balanceDepositsWithdrawalsBank chargesInterest on overdraftInterest received on current accountDis-honored chequesDebit ordersClosing balance.
The bank statement shows thefollowing:
All mail containing cash must be openedwith two staff members present.All cheques received are strictive endorsed.The daily cash balance should bemandatory, and cash should not leave theunitAll monies received are promptly recordedAll receipts are submitted to the delegatedstaff member who places it in a securelocation.
Key measures could be in place to track thecash receipt process/organisation results:
A source document describes allthe basic facts of the transaction,
such as the amount of thetransaction, to whom the
transaction was made, thepurpose of the transaction, and
the transaction date.
Cash receipts
Credit card receipts
Deposit slips
Customer invoices
Supplier invoices
Cancelled cheques
Purchase orders
Misappropriated
Income identified,collected, receipted andbanked properly
Income is a vulnerableand attractive asset.
Manual banking
Used for depositsand withdrawals.
Make paymentsand to do transfers
Internet banking
V S
Utility bill – no older than3 months and showing
clearly the client’sphysical address
SARS document whereclient’s SARS registrationnumber is clearly visible
Valid ID Document