This checklist outlines the essential steps for handling cash transactions securely and effectively within the organization, ensuring accuracy and compliance with financial policies.
Count and verify the total cash available at the start of the shift to ensure it matches the expected cash balance.
Ensure that all cash is stored securely in a locked cash register or safe, accessible only to authorized personnel.
Accurately record all cash transactions in the financial system immediately as they occur to maintain real-time balance updates.
At the end of each shift or day, reconcile the cash drawer against recorded transactions to identify any discrepancies.
If any discrepancies are found during reconciliation, report them immediately to the finance supervisor for investigation.
Deposit any cash exceeding the predetermined threshold into the bank daily to minimize risk of loss.
Regularly review cash handling procedures with all staff involved to ensure compliance and make necessary adjustments based on observed issues.