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Cash receipts

  1. The Accounting Clerk opens any mail addressed to Company or without specific addressee. The receipt of checks or cash will be recorded in the accounting system. All other checks or cash will be immediately forwarded to the Accounting Supervisor.
  2. The Accounting Clerk will endorse all checks by rubber stamp to read as follows: 
    • PAY TO THE ORDER OF Company Bank
      Account #
      Organization Name
      Account Number
    • The endorsement stamp will specify into which corporate account (savings, checking) the deposit will be made.
  3. A report will be printed that includes the source and amount of the receipt as well as the total daily deposit amount.
  4. The checks and cash will then be forwarded to the Accounting Supervisor, who will complete deposit slips in duplicate. Receipts and deposit slip will be placed in an envelope for Bank.
  5. If no cash is present, the envelope may be sealed and sent through the US mail. If cash is present, the Accounting Supervisor will verify deposited funds prior to sealing the envelope and making the deposit in person.
  6. Documentation for all receipts (a copy of check, letter, etc.) will be attached to the duplicate slip and filed chronologically.
  7. All receipts will be deposited intact. No disbursements will be made from cash or check receipts prior to deposit.
  8. The Accounting Clerk will record each cash payment received in a number receipt book with a duplicate for the payer. Cash shall be locked in a secure location until taken to the bank.
  9. The Executive Director will receive a copy of all deposit reports for review.

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Up Since 6/3/2021 11:13:40 AM