Checklist DB
[1-1] Ensure different individuals are responsible for receiving cash, recording transactions, and reconciling accounts.[2-1] Verify that all cash receipts are authorized by a designated person.[3-1] Use pre-numbered receipts for all cash transactions.[3-2] Maintain a detailed record of all cash received, including the date, amount, and source.[4-1] Store cash in a secure location (e.g., a locked cash drawer or safe).[4-2] Limit access to cash storage areas to authorized personnel only.[5-1] Reconcile cash receipts with bank deposits regularly.[5-2] Compare the cash register to the cash on hand regularly.[6-1] Deposit cash receipts regularly.[7-1] Periodically have an independent person review the cash handling and reconciliation process.[7-2] Perform surprise cash counts.[1-1] Ensure different individuals are responsible for authorizing payments, processing disbursements, and reconciling bank accounts.[2-1] Require proper authorization for all disbursements.[2-2] Ensure checks over a certain amount require dual signatures.[3-1] Maintain an approved vendor list.[3-2] Verify that payments are made only to authorized vendors.[4-1] Use pre-numbered checks and maintain records of all issued checks.[4-2] Retain supporting documentation (e.g., invoices, purchase orders) for all disbursements.[5-1] Store unused checks in a secure location.[5-2] Limit access to check stock to authorized personnel.[6-1] Cancel supporting documents after payment to prevent reuse.[6-2] Review and approve all electronic fund transfers (EFTs) before execution.[7-1] Reconcile bank statements with company records monthly.[7-2] Investigate and resolve any discrepancies promptly.[8-1] Periodically review the disbursement process by an independent person.[8-2] Conduct surprise audits of disbursement records and processes.
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