Cashier Policy

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The document outlines a cash handling policy and procedures for Mindanao Community School including definitions, policy, guidelines for cash collection points and petty cash funds.

Cash received must be recorded, receipts issued, amounts reconciled daily and deposited at the bank. Funds should not be left unattended and must be stored securely.

Petty cash funds can be applied for with approvals. Funds must be kept securely and only used for small payments with receipts. Forms are needed to replenish funds.

Cash-Handling Policy

Intent

To ensure proper and consistent cash handling procedures

Scope

This policy applies to all Mindanao Community School Employees.

Definitions

Cash - May be comprised of coin, currency, cheques, and bank transfers.

Cash Collection Points - Departments or other units that handle cash on a regular basis.

Policy and Procedures

1. Cash funds must not be left unattended. Cash funds must be stored in a cash box within a register,
safe or locked cabinet, to which access is restricted to preferably the cashier or person in a
department acting as a cashier.
2. Funds and allotments are deposit at designated depository bank
3. Departments that wish to be named as a cash collection point may make a request to the Director,
Financial Services and demonstrate the ability to follow appropriate cash handling procedures.
4. Other departments or units that occasionally handle cash receipts are also required to follow
procedures and guidelines that apply to cash collection points.

Guidelines for Cash Collection Points

1. All cash received must be recorded through a ledger card.


2. A pre-numbered receipt form must be issued to the customer and a duplicate copy retained by the
cash collection point.
3. The cash received must be reconciled to the ledger/columnar or to the pre-numbered receipts
daily or on a schedule as agreed with Financial Services.
4. A bank deposit slip must be written for the total amount of the deposit and the cash and deposit
slip must be delivered to the main cashier daily or on a schedule agreed with Financial Services.

Guidelines for Petty Cash Funds

1. It is the responsibility of Mindanao Community Schoolstaff who maintain petty cash funds to
adhere to this policy/guideline.
2. A petty cash fund may be applied for or increased by completing a payment request form and
forwarding to Accounts Payable, stating reasons for the request, and the amount requested.
3. The petty cash fund must be kept in a safe or locked cabinet under the control of the responsible
person. Only the responsible person may have access to the petty cash fund.
4. The petty cash fund must at all times contain the authorized amount in cash and/or paid vouchers.
The funds may not be used for personal loans, cashing cheques, or for salaries.
5. The person responsible for each petty cash fund should establish a maximum size for petty cash
payments from their petty cash fund.
6. Petty cash should be used as a convenient method to pay small claims and is not intended for
larger payments or frequent payments, which should be paid through Purchasing/Accounts
Payable.
7. To replenish the petty cash fund, a Petty Cash Reimbursement Form must be completed. The
form would show persons reimbursed, the amounts and the account numbers to be charged. All
receipts must be attached with approvals from the signing authority for the account charged.
8. Funds received from any source must not be added to the petty cash fund, but must be processed
per the procedures for a cash collection point.
Acknowledgement & Agreement

I, (Employee Name), acknowledge that I have read and understand the Cash-Handling Policy of
(Company Name). I agree to adhere to this policy and will ensure that employees working under my
direction adhere to this Policy. I understand that if I violate the rules set forth in this Policy, I may
face punitive or corrective action up to and including termination of employment.

Name:

Signature:

Date:

Witness:

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