Cash Handling 1: Departmental Procedures
Video #1 of 4 Cash Handing training Introduction to basic departmental procedures for collection of funds for a service or product.
Toggle between list and paragraph view.
- [00:00:00.000]In this quick clip we are going to cover the basic
departmental procedures regarding the collection
of funds for a service or product.
- [00:00:09.733]In regards to the collection of cash for a service or
product, a department must:
- [00:00:14.733]Designate a Fund Custodian or Custodians
- [00:00:17.833]Read and understand the UNL Cash Handling
Policies and Procedures available at
- [00:00:25.800]Determine cash storage locations. A frequently
accessed, daytime cash storage location and
secure nightly repository will be necessary.
- [00:00:35.300]A safe, lockable desk, or other secure receptacle
- [00:00:40.000]Develop a process to document sales and record
- [00:00:43.866]Obtain a restrictive endorsement stamp with the
- [00:00:48.433]Please seek assistance from the Bursar's Office
regarding the establishment of internal cash
- [00:00:54.233]Any collection activity MUST be reported to this
- [00:01:00.266]Anyone who handles cash on a regular basis
should take at least 5 consecutive days of vacation
- [00:01:07.733]During this time, another person should process
the cash transactions on a timely basis to
minimize risk for the institution.
- [00:01:15.333]Any change in dollar volume or any occurrence of
an unusual nature should be reported to UNL’s
Internal Audit Office or the Bursar’s Office.
- [00:01:24.066]Report Changes in Fund Custodian Immediately.
- [00:01:27.966]If there is a change in job responsibility or if cash
receipts are no longer collected, please notify the
- [00:01:38.166]The Department should establish an effective
accountability structure. There should be adequate
segregation of duties.
- [00:01:44.933]For example – someone that opens the mail,
processes the payments, prepares the deposits,
and reconciles would have conflicting duties
- [00:01:52.033]and would not be qualified. Each of those duties
should be separated.
- [00:01:57.633]Knowledgeable Staff. Employees that handle
cash should have sufficient training to complete
the task successfully.
- [00:02:06.000]These individuals should be fully informed
regarding the applicable policies and procedures.
- [00:02:11.500]Departmental staff should be prepared to address
unusual issues and emergencies.
- [00:02:16.266]Easily accessible management contact
information is necessary to ensure smooth
- [00:02:21.900]Employees should know whom to contact if
problems arise, including during nights and
- [00:02:29.600]Thank you for your time.
If you have any questions please contact the
Log in to post comments