This checklist is designed to ensure proper cash handling procedures are followed to maintain security, accuracy, and compliance with financial policies.
Ensure that cash is stored in a locked safe or secure drawer at all times when not in use.
Perform a daily cash count at the start and end of each working day to track cash on hand.
Document all cash receipts immediately using pre-numbered receipts for accountability.
Minimize cash transactions by encouraging electronic payment methods whenever possible.
Follow the procedure for daily cash deposits to the bank, ensuring that deposits are made promptly.
Reconcile cash accounts weekly to ensure that all cash transactions are accurately recorded.
Maintain a clear audit trail of all cash transactions, receipts, and deposits for future reference.
Provide regular training to staff on cash handling procedures and security measures.
Establish a procedure for reporting any cash discrepancies or theft incidents immediately.
Regularly review and update cash handling procedures to ensure compliance with the latest financial regulations.