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CASH HANDLING
Training Presentation

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Cash Handling
OBJECTIVES

Understand the principles of good cash handling

Know the types of deposits

Follow CSU cash handling policies and procedures


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Cash Handling
A SERIOUS ISSUE

If you are responsible for handling cash
you are accountable for that cash.
You must comply with University
policy.
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Cash Handling
What is included in Cash handling?
Its not just cash. It includes the following:

Coins
Currency
Checks (Cashier Checks, Travelers Checks)
Money Orders
Credit and Debit Card Transactions
Cash Equivalents
Stamps
Gift Cards
Bus Passes

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Cash Handling
Principles Of Good Cash Handling
Five Basic Principles

Segregation of Duties
Security
Reconciliation
Management Review
Documentation





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Cash Handling
Segregation of Duties

Is an important aspect of proper handling.
Opening the mail, processing deposits, and
reconciling accounts should each be done by
different individuals.





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Cash Handling
Risk and Controls


Who or what is at risk?

The money

You







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Cash Handling
Risk and Controls

What are the risks?
Cash is stolen
Cash is lost
Documentation does not agree with records
No audit trail
Finger pointing and accusations
Loss of revenue







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Cash Handling

Risks and Controls

In the cash collecting process, YOU are just as
important as the cash

Controls (rules) are designed to protect both
YOU and the cash you are handling.






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Cash Handling
Risk and Controls

Before cash collection begins
The planning checklist

Departmental cash handling supervisor develops a plan:
Is a change fund needed?
How are cash and checks received?
Mail or in person? Who opens the mail?
Who is going to collect the cash?
Record the cash?
How is the cash going to be secured?
Who is going to prepare the deposit?
How?
When to deposit at Bursars Office?
Reconciliation? Management Review?
Who needs training?






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Cash Handling
Making change

Do you have a change fund?
Need to keep the cash safe
Every week prepare a reconciliation to be
retained in your department.
Never, Never, Never make change from
your personal cash!









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Cash Handling
Collecting the cash
How are cash and checks received?
Mail or in person?
Who is going to collect the cash?
Record the cash?

In person:
Enter cash amount on a cash register or pre-numbered
triplicate receipts.
Give one copy of receipt to customer.
RESTRICTIVELY ENDORSE CHECKS ON THE BACK
IMMEDIATELY
For Deposit Only Clayton State University
Each department must have a stamp for endorsing
checks.
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Cash Handling
Collecting the cash
How are cash and checks received?
Mail or in person?
Who is going to collect the cash?
Record the cash?
In Person
Only one person should have access to the cash register,
receipts book or cash drawer during any one shift.
Total the receipts in the cash drawer at the end of each shift
If there is more than one person receiving cash at the same
time, each person must have their own cash drawer and cash
receipts book.
For proper segregation of duties, the person collecting cash
can not have any other responsibilities related to cash
handling.

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Cash Handling
Collecting the cash
How are cash and checks received?
Mail or in person?
Who is going to collect the cash?
Record the cash?

By Mail:
One person should open the mail and you should
immediately RESTRICTIVELY ENDORSE CHECKS
For Deposit Only Clayton State University
Each department must have a stamp for endorsing
checks.
Enter each check into an accounts receivable system if
you are using one. If not, then prepare a daily list of the
checks. Provide the receipt #, Payer Name, Date
Received, Check Amount, and Received by.
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Cash Handling
Securing the cash

How is the cash going to be secured?
Overnight storage-Ideally your department has a
safe close to the area where cash is collected. All
collected cash must be kept in safe at all times until
deposited. Access should be limited to supervisory
and authorized personnel.


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Cash Handling
Securing the cash

What if your department does not have a safe for
overnight cash storage?
Department must have a cashbox with a lock and it
must be in a secure drawer that locks. Access is
limited to supervisory and authorize personnel only.

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Cash Handling
Securing the cash

Whether your department uses a safe or a locked
cashbox, it is very important to change the combination
on a regular basis. Change the combination at least
once a year or when someone leaves your department.

If you use keys to access the safe, cashbox, or a locked
drawer, then make sure that the key is kept in a secure,
secret place.

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Cash Handling
Securing the cash

Each person collecting cash should have their own money
when making change is necessary.

Cash must be kept in a secured cashbox or register drawer
with limited access; only the person assigned should have
access.

Cash must be counted at the end of the persons shift or before
another employee comes on duty.

Discrepancies should be documented and resolved by cashier
and supervisor must review and approve.
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Cash Handling
The deposit
Who is going to prepare the deposit?
Deposit must be prepared by someone who didnt collect
the cash or open the mail. If that is not possible then it
must be reviewed by someone other than the preparer.

Hand deliver the deposit to the Bursars Office. (Never, use
interoffice mail for deposits)

You should make deposits daily even if its a small amount.
Deposits should never be held longer than five days.
Document reason for delay.

THIS IS AN AUDIT ISSUE


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Cash Handling
The deposit

Preparing the deposit
Most departments can use the Miscellaneous Deposit Form found on the
Bursars Webpage. (The deposit form is user friendly and downloadable for
easy use).
All deposits must be separated by Cash, Checks, and Credit Cards
Signed credit card slips should accompany the credit card close out and the
detail breakdown.
Two adding machine tapes must accompany each form of currency.
If you have a Detail Code for your department enter it on the line. If no
detail code, you must include the entire account string.
FUND, PROG, CLASS, DEPT, AND ACCT
All checks and money orders must be stamped for deposit only
Sign and Date the deposit
Put loose change in an envelope
Make sure you keep a copy of transactions










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Cash Handling
Reconciling

Verify the processing or recording of transactions to ensure
that all transactions are complete, authorized, recorded, and
deposited timely.

Please resolve all discrepancies, sign and date reconciled
records.

The person who reconciles, should not receive cash or make
deposit. (If that is not possible the supervisor must review all
deposits.)











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Cash Handling
Management Responsibilities

Establish an effective internal control system

Delegate responsibility for cash handling duties, maintain
proper segregation of duties

Require that staff handling cash be properly trained & follow
all of the Universitys policies and procedures

Review receipts and reconciliations on a regular basis, then
initial (or sign) and date documentation reviewed














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Cash Handling
Management Review

No matter who is collecting, depositing, and reconciling,
Management is ultimately accountable
It is managements responsibility to regularly review the
reconciliation process to assure timeliness, accuracy and
resolution of all outstanding issues.












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Cash Handling
Keeping Records and Record Retention

University policy states that the following documents must be
kept in the department for the current year plus three
more:

Cash register total tapes
Carbon copy of a pre-numbered receipt
Electronic sales log, if applicable
Deposit receipts
Credit card receipts












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Cash Handling
Transporting Cash

If you have the responsibility for taking the cash deposits to the Bursars
Office, please use good common sense.

Secure the cash and checks in a cash pouch or envelope
Dont be conspicuous, dont be predictable
Get Public Safety to walk with you










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Cash Handling
CSU Cash Handling Policies & Procedures


Review the CSU Cash Handling Presentation online at
http://adminservices.clayton.edu/bursar/regpolicies.htm


Review Departmental Deposits and Cash Receipting
online at http://adminservices.clayton.edu/bursar/forms.htm











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Cash Handling
QUESTIONS
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