1
|
Daily bank deposits do not always correspond with cash receipts.
Timing difference between when cash is received and when deposited in the bank
Cash is received after the day’s bank deposit is prepared and sent to the bank.
Bank credits bank deposits received after a certain hour on the next day.
Cash receipts are being stolen
|
Make two deposits for each day’s receipts.
An employee who does not handle cash receipts daily reconciles each day’s cash receipts per book with deposits per bank
List cash received each day; compare it to daily cash deposits.
Have 2 people involved in cash receipts if practical. If only one can be involved, video tape the receipts process.
Have an employee who does not handle receipts do all reconciliations.
|
