Cash Receipts Deposits Procedure

Timely and accurate accounting and depositing of receipts is crucial to positive cash flows for all businesses. To ensure success, your company needs an efficient receipt policy and deposit policy.

The Cash Receipts Deposits Procedure provides proper methods for receiving, applying and depositing cash receipts, and it applies to accounts receivable personnel, the cash controller and the cashier. (6 pages, 653 words)

Cash Receipts Deposits Responsibilities:

Accounts Receivable is responsible for processing all cash and check transactions and depositing the results in the bank.

The Cash Manager is responsible for inspecting and verifying proper signatures or endorsements on checks.

Cashiers are responsible for all cash drawer transactions.

Cash Receipts Deposits Definition:

Tender Item – any item used to tender or pay for a transaction is considered a tender item. Tender items can include coupons, gift certificates, credits, rebates, cash, checks, barter credits, etc.

Cash Receipts Deposits Procedure Activities

• Receiving Cash Drawers
• Application of Accounts Receivable
• Deposit

Cash Receipts Deposits Procedure Forms

• Deposit Log Form