POLICYANDPROCEDUREMANUAL

SOPNO:
ACCTGCASH00403/16
DEPARTMENT: ACCOUNTINGSUBSECTION:CASH
SUBJECT:
CASHANDCHECKDEPOSITSISSUEDATE:MARCH4,2016

POLICY:Cashandcheckdepositsshouldbecompletelyandaccuratelyrecordedandreconciled.

PROCEDURE:

1. Allcashandcheckdepositsshouldbemadeintactonadailybasis.Depositsmustbeproperty
reconciledtoensurethattheyareaccuratelyrecorded.Exceptionstodailydepositswillbeapproved
bytheVPofFinanceandHotelAccounting.

2. Inorderforcheckstoberecordedproperly,thecheckmustbeloggedbyanemployeeindependent
fromtheaccountingfunctionbyreviewingallincomingmailandinterceptingallchecks.Thechecklog
shouldincludethechecknumber,payeeandamount.Thecheckswillbephotocopiedandendorsed
ForDepositOnlyanddroppedintheDropSafe.Acopyofthelog,andthephotocopyofthechecks
willbeforwardedtoaccountingforposting.

3. TheGeneralCashiermustreconcilethebankbalancesperthesealedenvelopestotheDropLog(as
notedinACCTGCASH0035/15),whichinturnwillbereconciledtothePropertyManagementSystem
andPointofSaleSystem.Anyvariancesmustbedocumented.

4. AcopyofthedepositslipwillbeattachedtoaprintoutoftheCashDepositDetailportionoftheDaily
IncomeJournal,routedto,andinitialedbytheGeneralManagerforverification.

5. ACashVarianceReportspecifictoeachdepartmentshouldbeprepareditemizingoveragesand
shortagesforallcashhandlingpersonnel.Thereportshouldbedistributedupondiscoveryofthe
variance,butnotfewerthanonceperweek,totherespectiveDepartmentHeadforfollowupon
variances.Areportofcashvariancesconsolidatedbycashiermustalsobedistributedmonthlytothe
DirectorofAccountingandGeneralManager.

Variancesshouldbeaddressedperthefollowingschedule:
o 1x$20
CashierVariance:$20.00ormore,eachoccurrence
Required:Cashhandlingassociateresponsibleforvariancesisdisciplinedverbal
counselingand/orwrittenwarningtoassociatefile.Subsequentviolationsin
thiscategorywillresultinadditionaldiscipline:writtenwarning,suspension,
reassignmenttoamoresuitableposition,ortermination.
o 3x$10
CashierVariance:$10.00ormore,threetimesinonemonth
Required:Cashhandlingassociateresponsibleforvariancesisdisciplined
writtenwarningtoassociatefile.Subsequentviolationsinthiscategorywill
resultinadditionaldiscipline:additionalwrittenwarning,suspension,
reassignmenttoamoresuitableposition,ortermination.
o $50
CashierVariance:$50ormore,monthtodate
Required:Cashhandlingassociateresponsibleforvariancesisdisciplined
writtenwarningtoassociatefile.Subsequentviolationsinthiscategorywill
resultinadditionaldiscipline:additionalwrittenwarning,suspension,or
termination.

$100

DepartmentVariance:$100.00ormore,totalformonth
Attheendofthemonth,anydepartmental(rooms,food,orbeverage)variance
of$100.00ormoremustbeexplainedinwritingbytheDirectorofAccountingto
theVPofFinanceandVPofOperations.Additionalvariancesinthisareamight
requirewrittendocumentationtobeissuedtotheDirectorofAccounting.

6. Anindependentandauthorizedserviceprovider(e.g.armoredcarservice)mustmakedepositstothe
bankandanexecutedcontractandcertificateofinsuranceshouldbemaintainedonfile.Armored
CarServicePickUpLogmustbemaintainedonadailybasis.Allpickupsmustbeproperlyrecorded
onthelogbytheGeneralCashierandsignedforbytheArmoredCarServicerepresentative.Armored
CarServicewillpickupaminimumoftwiceperweek.Undernocircumstancesshoulddepositsbe
heldpasttheArmoredCarServicepickup.Example:IfpickupisTuesdayandFriday,Tuesdays
throughThursdaysdepositsmustbesentwiththepickuponFridayandmaynotbehelduntilthe
followingTuesday.

7. Onadailybasis,theCorporateStaffAccountantmustverifythetotaldepositamountpertheGeneral
Ledgertodepositverificationfromthebank,includinganonlinebankstatementprintoutoradeposit
ticketreceivedfromthebank.Anyvariancesmustbedocumented,researchedandresolved.The
depositreconciliationmustbesignedanddatedbytheindividual.

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