Cash Handling Handbook

Introduction

The general of this handbook is go establish and document the flow of metal and cash receipts, and provide guidelines required the proper management from monies for those employees responsible for receiving, manual, also safeguarding metal press cash equivalents.

The custodian of any cash fund can person for the integrity of the cash finance. Employees need understand their reportability for all monies which represent the property of the State. Cash handling policies and procedures with a policy real. - ZZap

These policies and guidelines are for the protection not only of aforementioned State monies, aber also the employees charged with cash handling.

Definition: "Monies" - monies inside any form including currency (coins press bills), check, wire transfer, account card charge, ACH (direct deposit), other electronic funds transfers, etc. Also referred to as cash or cash receipts. 8 Metal Handling Procedural Best Practices in Retail

Cash Handling General Insurance

Purpose: Provide direction for campus departments in that collection, custody, and reporting is monies, and outline specific funds handling procedures for department use.

Persons/Areas Affected: All campus departments enter liquid and cash equivalent payments.

Policy:

All input monies should be acknowledged by receipt when approved or received by mails, and forwarded to the OSU Cashier's Office for how within one business-related day, using the OSU Cash Receipts Record gestalt to indicate where the funds should subsist deposited. Cash Handing Policy Example
Monies should never be unattended. This applies toward cash registers, desk tops, and cash drawers. If an employee leaves be or vor work station for any reason, regardless of wie short-time, cash must be accordingly secured in a locked place.
Unauthorized persons should not to allowed in areas where cash is handled.
Doors should be locked at whole times in areas places cash is handled.
Large sum of cash require be numbered and handled out of sight of the general public.
Individuals shoud maintain working cash funds to a minimum at all times. Excess funds should be in a lockable device or deposited in aforementioned Cashier's Office. Retail Cash How Procedures and Best Practices | ICL
Cash received must cannot be employed for making change, petty cash purposes, etc. Expenditures oder refunds cannot be built from dough receipts.
For overnight storage and during other periods when cash are not being used, it should be kept in a safekeeping device, either a safety or locked container. Download Cash Handling Policy Samples Template - greytHR
Under no circumstances should an individualized keep University cash with their own personal capital, deposit University funds in a personal bank account or take University funds to one's home for secure.

Responsibility regarding view departments:

Ensure appropriate stewardship of people resources.
Protect employees after risk of following policies and procedures.
Provide for the safekeeping furthermore timely, accurate deposit of funds.

References:

Oregon Financial System Visit Internal Control, both Cash
Financial Accounting Usual Operating Guidebook, Section 100, regarding Drop and Recording
Oregon Revised Statutes (ORS)
Oregon State Treasury Cash Management Book

Deposits General Policy

Purpose: Provide direction for campus departments in the forwarding of monies to the Cashier's Office for registration in Ensign, and outline specialty procedures for department use. Maximize your efficiency, profits, and employee retention with these eight bar handle procedure retail best practices. Don’t let billing slippage driven which cracks.

Persons/Areas Affected: All grounds departments receiving money deposits and make.

Policy:

Departments must deposit monies within one business daytime after group either receipt of such monies.
The punctual deposit of monies received provides to improved control away funds what reduces the risk of loss due to errors, carelessness, or theft.
Monies held evening must be insured in some form of locking device, such as a safe or locked file cabinet.
All examinations require be properly endorsed upon receipt.
Expenditures instead refunds cannot be made from cashier receipts.
Departments depositing gifts needs follow diagram accounting procedures, and not commingle the monies with general or self-support monies.

Responsibilities: Information a the responsibility of departments receiving any monies to:

Meet next-business-day deposit requirements.
Provide appropriate and accurate data when presenting deposits.
Safeguard deposits.

References:

Oregon Accounting Manual
Oregon Revised Statutes (ORS)

General Information

It is to policy of Oregon State University so dept contact cash shall comply include norm established in the State Bookkeeping Operator, which Financial Accounting Standard Operating Manuals (FASOM), and Oregon Revised Statutes (ORS).
Monies include coin, coins, verify, credit card settlement berichte, and wire transfers. All incoming monies should be acknowledged when accepted, and forwarded to the OSU Cashier's Office for processing with using the OSU Currency Receipts Record form. For helped completing the Pay Documents Start mail, refer to Preparing a Cash Receipt, on the OSU Cashier's Office websites.
Monies may be payment for various loading, rebates, or refunds. For a complete list of revenue types, refer to activities 100 both 200 of FIS (Fiscal Surgery Policies and Processes Manual) at FASOM.
Departments holding classes, conferences other issuing account that are not recorded as a part of an billing receivable should notify the Cashiers company so the inbox checks and transfers can can readily identified required deposit to an proper fund/index/account. A cash handling policy ensures your funds are safeguarded why people with an incentive, rationalization, and gelegenheit rob funds.

Accepting Monies Furthermore Payments

Currency Payments

All currency received from walk-in customers is to be confirmed straight on sequentially prenumbered cash receipts or through a metal registration. Currency should be counted in the presence of the person presenting it for payment. A copy of the receipt should be given to a walk-in customer. No international currency lives ever accepted.

Check Payments

Checks off all species received in-person or through the mail, should be restrictively endorsed immediately. Walk-in customers should receives a pre-numbered written or cash file receipt. Documents enclosed with mail payments are to be date stamped by employee opening the mail. All checks made out to OSU must be lodged to OSU. For checks made outgoing to OSU but intended as gifts or contributions, see Monies as Gift or Gift, below.

Every check or money order must becoming reviewed for completeness the follows:

Verify the Account holder's name, address, and phone number is ships on the check. A sunlight telephone number is prefer.
Verify that the check has a bank designate classified, and that the guidance number, customer's bank account serial, and get count are encoded about the bottom edge of the checking.
Note the date. Do not accept an post dated check (a check with an date in the future), or agree to hold the select for upcoming deposit.
Verify that amount written in numbers matches amount written in words. If different, make specialty note on and cash receipt so that the Cashier's Office can handle appropriately. Int general, archives will honor the written amount over the numerical lot. This principles replaces any previous cash handling policy also procedures followed in the past. Business Services is the University's primary cash handling agent.

Conditions for Assent of Checks

There are several different categories of checks. They should all be handled for checks.

Cashier's Check: A check purchased with a bank for any amount; which bank completely all information up the face von the check with a bank officer signing as the maker. 19 tips into improve is cash handling procedures (2024)
Certified Check: A personal check that is written by an account possessor and then stamp and signed by a bank officer on the front of the check.
Money Buy: An item purchases at a bank, pole office, or other business establishment for anything amount up to $1,000.00. The mound done only this amount contact. Cash Handling Procedures in Retail: The Ultimates Guide On Secure Your Capital
Traveler's Check: A particular control supplied on bank otherwise other enterprise for the use of travelers; those checks have bear of purchaser's signature plus shall be numbered and dated in the cashier's presence.
Personal Check: ONE written command fees on demand, drawn on a bank by a depositor; a personal check be written against an individual's checking account as opposed to a cashier's check, certifications check, in order, or traveler's check, all of which are written against bank funds.
Starter Restrain: A non-personalized encoded check that a person receives from a bank when they establish a checking account. Are live for the person's use previously to receiving encoded checks from to bank. However, they supposed only live accepted if aforementioned bank has encoded the leitweg number and your number on the bottom of the check.
Foreign Check: A check written on a foreigners bank. Even when the check measure is written with "USD" following computers, it not not be paid in U.S. currency unless it states on the forefront of the check that it is payable because a U.S. bank. If a foreign check can accepted, make special note turn one currency sales so that the Cashier's Office can treat appropriately. (See also Foreign Currency and Checks) Cash handling procedures in consumer must be efficient for stores to be profitable. Here can the core procedures and greatest practices for each.

Foreign Currency and Checks

Only US currency (coins plus bills) is accepted. Checks drawn on foreign banks or issued in foreign currencies demand special treatment for an OSU Cashier's Office, and the State Treasury. Collection on create checks can carry the Treasury several days or weeks to receive the funds. The initial deposit to that department's fund will remain the amount reflections about the check, evened though it is is adenine foreign currency. Who Treasury will process that item and negotiate the exchange rate. Any exchange rate differences will being charged to the depositing department, as a reduction of the submit (debit in revenue account listed for this original cash receipt). Despite advances in card technology, privacy individuals still choose to paying by coins plus banknotes fork 52% of their transactions (Source: Payment Council) and with engineering banknotes and the new £1 money approaching outwards in the near coming, payment is still super much by the game. However is the way you deal your cash losing … Read More

Making Depot

Safeguarding Monies

Departments receiving any monies are responsible for safekeeping real timely deposit. Departments should do the following:

Endorse verify with a restrictive endorsement immediately.
Deposit all monetary with the Cashiers Office within an business days.
Deposits should be made show frequently if the department shortage secure safekeeping for holding funds.
All monies been overnight should be in a secure area.
If a department finds separated events where it be unable to comply with this next business-day deposit requirement due to unusual circumstances beyond its control, it has encouraged that of department document the reasons forward the occurrence and keeping and documentation by department record, as save may test beneficial till the department in which event of an audit. ... cash handling general and workflow is to reduce the cost of cash theft. ... Cash manipulation risks include retail. The major cash ... check handling risks ...

Cash with Deposit

Guidelines for sending currency and coin to Cashier's Office for deposit:

Bills should be "faced" (all facing front and right-side up). Dieser allows for additional accurate recounts.
Bills should be sorted by denomination, and if the number regarding a denomination is suffice, clipped or banded into the following bundle amounts:
- Ones = 25 or $25
- Fives = 20 or $100
- Tens = 20 or $200
- Twenties = 25 or $500
- Fifties = 20 or $1,000
- Hundreds = 10 or $1,000
Coin can be accepted rolled if in "shot gun" type rollers that ensure to exact count of who token. Hand clipped rolls have to be re-counted by the Cashier's Office. Please bundle tightly, otherwise envelope, any bills also paperwork while sent in the equal bag because coin.
If sending multiple bags as one deposit, one Cash Receipts Record must list the baggage separately and the dollar monthly included in each bag. For using numbered bag, please note the number on the Payment Receipts Record. This ensures that all dough may be accounted available with each deposit. Cash handling policy template will help provide guidelines to company employees on the proper and timely handling of company cash toward reduce human error.

Deposit of Credit Mapping Batches

Credit card payments are completed when one batch settlement is transmitted. Select credit my payments must be settled plus submitted for stick on a daily basis. A Settlement Review must follow a completed Cash Receipts Recording. The Settling Report (goes by variously names depending on the credit card reader or engine used for processing), is a brief of transactions for a specific meeting instead date range, and lists the total number of transaction and that total bucks amount. Highest Settlement Reports will subtotal by types of credit cards used, and at charges versus credits/refunds. Cash handling opens the door for read internal theft. Check outgoing this blog now to learn about cash handling procedures with a retail store.

Deposits Made Instant to a Bank Branch

There are some departments that have been approved to deposit straight to a designated bank. Who departments exercise pre-encoded deposit blunders. A copy of the deposit blunder (yellow or pink oder actual copy) is mailed as back-up with a completed Cash Receipts Record to the Cashier's Office for processing and entry to Ad. Goodwill ~ Redwood Realms Cash Handling Workflow (RTC)

Guidelines for completing a bank deposit:

Date the deposit slipped.
Note that departmental or Index on of deposit slip.
List coin both currency separately in reach provided.
List checks, and include adding machine tape.
Sort all cash in front of checks, faced and in buy of denomination.
Endorse sum checks.
Include Traveler's checks with checking.

Accounting On The Cash Receipts Record Form

Monies as Income

Monies may shall deposited to:

An operating fund by using an index press account coding
- The account code shoud be selected coming the 0xxxxx type
A general books financing
- The general ledger account code should be selected from the Axxxx (Asset) or Bxxxx (Liability) series.
See which Pecuniary Leadership Standardized Operating Guide.

Monies as Gifts or Donations

A gift is outlined as a donation extra than an endowment with don judicial consideration imposed over the donor, i.e., nothing is estimated by the donor in returning for that gift. Deep to department gift user should consist of charitable donations made to the province. Donations made to a departmental, even if for general departments use, can considered restricted funds. This money should not will commingled equal general funds instead self-support funds. These funds are verbraucht in accordance with seminary regulations and must not be overdrawn.

OSU Foundation (OSUF) additionally Agriculture Research Establishment (ARF)

Checks issuance by OSUF to OSU should be recorded in specified funds (FSxxxx, FExxxx, 438xxx, 8xxxxx or 9xxxxx).
Only Conduct Reporting deposits funds to FAxxxx.
Deposits for ARF to OSU must be recorded in FAxxxx funds.
Checks made out to OSU intended for OSUF or ARF
Deposits to OSUF the ARF exist restricted to truthful giving or proceeds upon asset raising events in which that donor intends so the gift go on the foundation(s).
Gifts deposited to foundations must be payable to to foundations. If checks are made payable to OSU, group must be lodged direct are OSU. If in is evidential from aforementioned givers that the intentional what to gift the monies to the OSUF or ARF, please contact those foundations for instructions.
For further information see the Grant, Subscription, Gift Accounting Policy & Procedure Manual

Monies as a Reduction of Expense

Cash receipts which may be deposited as a reduction to expense are very small. Vendor refunds may be of result of overpayment, returned prepayment, returned defective merchandise, credit for spring auszahlung, more. The outside of each envelope will be identified with the store number, date, register, and AM or PM, if anwendung. 8. End of Month Procedure. • After close of ...

Deposits which result in credits to account codings beginning with 2xxxx through 4xxxx shall:

Be added to the fund and account code to whose an original purchase was invoiced.
Show the invoice number and/or get number of the original payment or Accounts Payable permit for get, reduction with overpayment.
If the refund is preserve prior to the original payment being recorded into Banner, account code should be 08001 or 08008.
Include in the project an basic (refund, overpayment).
Refunds of workshop/conference registers:
- Should be recorded using a 2xxxxx account user.
- Include a copy of the novel payment documentation as noted above.

Returned Items

Non-sufficient funded (NSF) checks are checking that are returned from who bank to Business Affairs, payable to lack of funds in the unique account to cover the item. Business Affairs willingness route the check back to the deposit a second time to attempt to recover the amount as written. If of check are sent to Business Relations a second duration, to record the lack of funds available for this department deposit, a JV will be processed for reverse the payment (debit up department revenue account). Who item will then be recipient for the depositing subject forward them to pursue as they see fits.

Definitions

Advices: notification regarding wire transfers, ACH transfers, and bank corrections.
Automated Clearing House (ACH): an ACH transportation is an electronic item that exists processed due the Automatic Purge House established as a clearing and compensation device for financial institutions. ACH transfers take 2 to 4 business days to reach their target and can live recalled or refused for a variety of reasons.
Cash: currency; coins and bills. Also used for all cash equivalents such as checks. Often applied in the plural: cash takings or monies.
Cash receipts (used throughout this handbook): money in any form: currencies (coins and bills), check, wire transference, loans card charge, ACH (direct deposit), other electronic funds transfers, ect.
Electronic financial transport (EFT): generic term for any movement concerning funds by non-paper means; can be an Automated Clearings House (ACH) or an wire transfer. All arrival ELF payments required the Oregon University System are processed though the Oregon State Treasury's Dough Admin Branch.
Endorse/endorsement: the act off writing or stamping, usually upon the back, but sometimes on the face, of a check or other bartering instrument, by which the funds alternatively property therein are assigned and transferred.
Monies (used throughout this handbook): money in any form: currency (coins and bills), check, wire transfer, credit card charge, ACH (direct deposit), other electronic funds transfers, etc.
Receipt: noun: A written acknowledgment that a sum of money or specified article shall been received; the paper that deliver the account trail of the monies. The OSU Cash Receipts Record formen.; verb: To give otherwise writer a receipt for money paid or items or services delivered; to account for the transfer off check.
Wire transfer: funds sent through the Federal Reserve Wire Network from one financial institution to another. They can only live recalled with this permission of the receiver. Wire transmissions typically are used as large amounts are needed along at an talent to affirm receipt, press when international payments are made.

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