Operations Documentation
1
RICHOUX &
ASSOCIATES,
INC.
OPERATIONS DOCUMENTATION
Date 10 September 2009
System FINCO
Document FIN-0025 How To Determine Cash Drawer Overage/Shortage On Daily Report
No.
Operation To find cash overage/shortage on daily report
Long While doing a daily report the cash drawer may be out of balance. The cashier
Description must balance the daily report to the cash drawer.
Follow scenario 1 if the cash over/short amount is short.
Follow scenario 2 if the cash over/short amount is over.
Operation Scenario 1: If the cash over/short amount is short.
Steps
1. Compare each check to the payment in the payment section of the printed
daily report to confirm it was posted for the correct account.
2. Determine that paid out accounts refinanced are coded as RE and not CA,
CH or MO in the payment section of the daily report. If this is the error,
reverse the amount of payment as CA, CH or MO and repost the payoff as a
refinance RE code.
3. Determine if all non – payment postings are listed as OMR (other money
recv’d) for the correct amount and it is part of the deposit amount. If this is
the error, reverse the OMR posting.
4. Determine if there was an OMR cash. Confirm that if a loan was voided,
accept cash was not mistakenly pressed when the check should have been
voided. If this is the error, reverse the OMR and void the check.
D:\533579984.doc
Operations Documentation
2
5. Recount the money and re-add the checks. Call the manager if the cash
drawer is still short.
Scenario 2: If the cash over/short amount is over.
1. Compare each check to the payment in the payment section of the daily
report to confirm it was posted for the correct account.
2. Determine if there are any negative payments. Ensure that if posting an NSF
check that there is a negative sign in front of payment and the payment
method is NSF. If CA, CH, or MO is the payment method then this will
cause an overage. If this is the error, do a positive payment using the method
of payment chosen then do a negative payment using NSF.
3. If there was money that was overpaid or if other money was received and
wasn’t posted to a ledger card, then make sure an OMR was done for that
amount.
4. Verify that if an account was paid out with CA, CH or MO that it wasn’t
mistakenly posted as refinance. If this is the error, go to paid out account and
reverse the payoff amount then press RE. Repost the payoff with the correct
method of payment.
5. Recount the money and re-add the checks. Call the manager if the cash
drawer is still over.
D:\533579984.doc
Download

How To Determine Cash Over Short On Daily Report