Office background task handler8/31/2023 ![]() ![]() In this situation the unit should photocopy the check, and proceed to process the check for inclusion in the unit's next deposit to a main cashiering station. Sometimes a unit/department receives a check and it is not immediately clear why the check has been sent. In a campus unit/department that only occasionally receives a remittance, the individual check is recorded directly onto the cash collections deposit form. At the end of the day, the logged remittance amount must balance with the amount processed into either a cash register and/or an accounts receivable system. In this situation, when a receipt is not mailed to the payer, the payment is recorded to the appropriate account. The third person verifies that all checks received are deposited and account coded correctly.Another person processes the check (i.e.One person opens the mail, endorses and logs the check, including payment amount.Separation of duties requires that at least 3 employees be involved in the processing of remittances. ![]() Processing remittances present special risks, since the payer is not standing in front of you waiting for his/her receipt. When not in use, place all cash in a designated secure location.Ī few campus units receive a large volume of payments by mail rather than in person.Record the transaction with a receipt to the customer.If payment is by check, ensure the check is payable to either "UC Regents" or "The Regents of the University of California." Note: A postdated check is to be deposited without regard to the date. We will now review the 5 steps of cash handling. Control task: Practice dual custody when transporting cash, counting large amounts of cash, and other risk critical actions.Control task: Separate cash handling duties, whenever possible, to different people.Pre-condition 2: Maintain separation of duties and dual custody This will allow the campus to keep track of and communicate with the staff members who are actually handling cash. Control task: Specifically authorize an employee to handle cash by filing the appropriate form with the Cashier's or Accounting Office. ![]() (Note campus exception for fund custodians, students and volunteers who routinely handle less than $750 per week.)
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |