Cash Handling Seminar ppt part 2 krise · 2018. 4. 1. · Balancing Cash Drawer zRemove all cash...
Transcript of Cash Handling Seminar ppt part 2 krise · 2018. 4. 1. · Balancing Cash Drawer zRemove all cash...
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Electronic Payments
Credit CardDebit CardACH
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Daily Operations
Opening Cash DrawerArrange coin & currency in a consistent mannerVerify beginning cashCheck “bait money” if usedCheck alarm system, if available
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Daily Operations con’t
During the day/shiftCount, bundle, and secure excess cashKeep cash drawer lockedNever leave cash drawer unattendedNever let anyone touch the drawer, except under the direct supervision of the cash handlerAlways sign off your computerCash operation should have a permanent collection record (computer transactions, cash register tape, etc)
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Daily BalancingShortages/Overages/Losses
Shortage: Unintentional collection error.Overage: Unintentional collection error.Loss: Intentional theft or negligence
Report shortages/overages/losses immediately.Complete full documentation.
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Who Steals?
Outside Source
Inside Job
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Public Funds
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Private Funds
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Balancing Cash Drawer
Remove all cash (currency, coin, credit/debit card drafts, and checks)Count currency and coin. List on Daily Cash Count Sheet. Get same total twice.Be sure checks have been endorsed and accounted for on the Daily Cash Count Sheet.Cash handlers should then “buy” from the remaining cash on hand to fund the preferred mix of currency denominations.
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If you don’t balance….
Did you double count?Did you clear the adding
machine?Did you verify the tapes?Is cash/check stuck in the
drawer?Did something fall into the floor
or trash?Did you break a strap and not
verify?Do you have illegible checks?
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If you STILL don’t balance…
Check for commingled currency.Check adjustments for partial payments.Did you complete all transactions?Did you leave your cash drawer open?
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Helpful Resources
www.moneyfactory.com (US Bureau of Engraving & Printing)
www.federalreserve.govwww.aptusc.org (Association of Public Treasurers United States & Canada)
www.publictreasuryinstitute.com
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Happy Trails!