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FIN 15-3-2 (AEP)
Appendix B


BALANCING CASH RECEIPTING: MANUAL

(Point-of-Sale locations Without Register)

  1. Policy

A. Staff members will be responsible for collecting payments.

B. Supervisor will verify receipts match the amount of cash and checks.

C. Supervisor will prepare Cash Inventory Worksheet, and will verify deposit of any cash or checks collected by Cashier.

D. Supervisor will keep a log of all receipts/payments received through the office each day.

E. Each department must complete a Cash Inventory Worksheet before the receipts are deposited. If this has not been completed, the receipts will remain in a secured location (i.e, safe) until a Cash Inventory Worksheet has been completed.

  1. Payment Processing

A. All payments received by a staff member will be documented with a three part receipt book, or recorded in a point of sale system (or similar system). Contact FMS, Accounts Receivable for information on this.

B. Each receipt must be filled out completely.

C. After completing the receipt and collecting the payment, the staff member will give the pink copy of the receipt to the customer.

D. The other two pages of the receipt will go into the safe along with the cash, check, or bankcard payments.

E. Checks shall be restrictively endorsed when the payment is collected.

F. The payment will be immediately recorded as well in the payment log.

  1. Voided Receipts

If for some reason, a receipt needs to be voided the following steps should be followed:

A. Write void across the original receipt and write a short note as to why you are voiding this transaction.

B. If the receipts have not been removed from book, leave them in the book.

C. If the original receipts have been removed from the book, staple them to the stub.

D. The Supervisor or Lead must authorize the voided transaction.

  1. Closing Process

A. At the end of each working day, the Supervisor or Lead will take all the cash, checks, and bankcard receipts from the safe.

B. The Supervisor will fill out a Cash Inventory Worksheet. Separate the receipts into credit card receipts, cash receipts, and check receipts.

C. Supervisor will verify that the receipts are correct.

D. Supervisor verifies that all receipts accounted for in the receipt book are on the Receipt Log, and there are no gaps in receipt number from the previous day.

E. Supervisor verifies that the cash, credit card, or check purchase matches the amount marked on the receipt.

F. Supervisor verifies total of all match the total of all the receipts.

G. Deposit - a three part deposit slip needs to be completed.

H. Place the first two copies of the deposit slip (white and yellow) and the payments in a tamper proof bag. Seal the bag.

I. The bankcard terminal should be cleared and settled.

J. Print the bankcard settlement report.

K. Supervisor will perform a daily reconciliation, comparing the Cash Inventory Worksheet, receipts, log, and deposit.

L. Deposit shall be made by an individual independent of the balancing and reporting process.