QUALITY MANAGEMENT SYSTEM – Policies and Procedures
Standard 3:
Financial, Administrative and Physical Resources
Policy title: (F15) Cash Handling
First approved:
September 2011
Current version approved:
November 2011
Applies from:
November 2011
Review due:
November 2013
Policy overview
1. Purpose/Principles
1.
2. Scope
Approving body:
Responsibility:
First point of contact:
3. Definitions
Management Forum
Finance Director
Finance Director
4. Policy
5. Procedures
Purpose/principles
The purpose of this policy is to provide cash handling controls in the recording, administering and securing
of cash taken at departmental/programme level, the transfer of cash to cashiers and its recording and
receipting by cashiers in order to minimize risk of cash losses.
2.
Scope
This policy applies to internal campus receipt of cash and EFTPOS transactions including field trips and petty
cash reimbursements.
3.
Definitions
Cash
Includes, notes, coins, cheques and EFTPOS transactions
.
Person in Finance assigned with the responsibility of:
• Reconciling and reimbursing the Petty Cash floats
• Banking the till float surpluses
Cashier
Accounting technician
Person in Finance assigned with the responsibility of
reconciling, recording and assigning till floats
Cash in Transit
Refers to the movement of cash and cheques between remote
campus sites and between the Bank and the main Windermere
Campus (cashiers)
Till Floats
Designated amounts of cash held within campus and at remote
campus locations.
Receipt
An acknowledgment slip to verify cash has been received.
Surplus takings
Cash collected over and above the till float allowance.
Hardcopies of this document are considered copies of the original.
Please refer to the electronic source (Hinaki) for the controlled latest version.
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4.
Trading Sales
Sales made by cost centres e.g. massage, vehicle servicing,
restaurant meals, etc.
Booking system
Certain parts of the organisation require the service to be
booked in advance such as Hairdressing or Bay Auto.
Imprest system
A system that ensures that the cash float balance is kept at the
same level at all times.
Realtime
BoPP’s accounting system.
Jasper
UoW’s accounting system
ICT
Internal Cash transfer
Policy
4.1
The approved points of cash collection for Bay of Plenty Polytechnic are:
Location
Till Float
EFTPOS
Petty Cash Float
Windermere Cashiers
$100
Yes
$500
Bongard Cashiers
$150
Yes
$200
Copy Centre
$150
Training Restaurant
$100
Yes
Training Café
$100
Hairdressing
$50
Yes
Beauty
$50
Yes
Massage
$50
Aquatic Centre
$50
Yes
Library – Windermere
$50
Library – Bongard
$50
Kahurangi Student Services
$0
Yes
Bay Auto
$0
Yes
Childcare Centre
$0
Yes
$50
4.2
All cash will be receipted immediately on acceptance – procedures 5.1 – 5.3
4.3
All cash will be reconciled to a day sheet, cash register or to a computer printout where an
independent book-keeping system is in place utilising a standard cashing-up procedure –
procedure 5.4
4.4
All cash will be transferred daily or weekly (on approval by the Finance Director) to the
cashiers at Bongard or Windermere using the Internal Cash Transfer Form -procedure 5.5
4.5
All cash will be secured at all times – see procedure 5.6
4.6
The Windermere cashiers will be the lead cashier and will take responsibility for:
• The Bongard cashiers
• The transfer of cash from Bongard to Windermere.
• Ensuring policy procedures are applied
• Overall control, banking, reconciliation and administration as laid down by procedures
5.6, 5.7 & 5.8
Hardcopies of this document are considered copies of the original.
Please refer to the electronic source (Hinaki) for the controlled latest version.
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4.7
5.
The following transactions are not permitted under any circumstances
• Cashing of cheques;
• “Cash out” transactions (e.g. from EFTPOS transactions);
• IOUs, temporary loans or any other form of personal advance.
Procedures
5.1
5.1.1
5.1.2
5.1.3
5.1.4
5.1.5
5.2
5.2.1
5.2.2
5.2.3
5.2.4
5.2.5
5.3
5.3.1
5.3.2
5.3.3
5.3.4
5.4
5.4.1
Departmental receipting and recording of cash
All cash will be receipted immediately (unless a booking system is in place – see 5.1.4) using
one of the following: EFTPOS, manual receipt book, cash register receipt (if available). (See
also section 5.2)
Where the manual receipt book is used, the white copy is given to the customer/client; the
yellow is for the cashiers and the pink stays in the book.
Unless a computerised book-keeping system is used, each receipt and EFTPOS docket will
be listed onto a day sheet.
Where a commercial computerized book-keeping system is used, a daily transaction report
must be printed out and reconciled.
Cash received will be placed in till or a cashbox that must be kept in a locked drawer or
filing cabinet.
Specific procedure relating to Field Trips
The Programme Administrator must advise cashiers by email that a field trip is underway
giving the approximate number of students and cost and the code to which receipts must
be coded.
Individual student invoices to be completed using bulk invoice requests.
Students are required to individually pay at cashiers, taking receipt back to the Programme
Administrator as proof of payment.
The policy requires that no cash is to be collected through any other source on site or off
site.
The Programme Administrator to attach cashiers receipts or yellow copy of internally
issued receipts to the schedule of participants and file away in accordance of
recordkeeping standards and for auditing purposes.
Specific procedure relating to retail & book purchases, course readings and resit fees
Each relevant Programme Administrator to advise (re-advise) to Cashiers by email of their
retail products, book requirements, course readings and resit allowances together with
costs and related income codes as they become aware of them.
Students to individually pay at reception, taking receipt back to administrator.
Receipt is entered onto a goods outwards schedule on which the student must sign on
collection of any product, book, course readings etc.
Every month, the schedule is costed up and used for stock reconciliation purposes and then
filed away in accordance of recordkeeping standards and for auditing purposes.
Reconciliation prior to taking to cashiers
The daily EFTPOS transactions must be printed out and the day sheets totalled up, where
required.
Hardcopies of this document are considered copies of the original.
Please refer to the electronic source (Hinaki) for the controlled latest version.
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5.4.2
5.4.3
5.4.4
5.4.5
5.4.6
5.4.7
5.5
5.5.1
5.5.2
5.6
5.6.1
5.6.2
5.6.3
5.6.4
5.7
5.7.1
5.7.2
5.7.3
5.7.4
Each day the EFTPOS cutover amount must be conveyed to Cashiers irrespective of when
the cash is transferred or as instructed otherwise by cashiers.
Cash must be reconciled every day when transactions occur, balancing to day sheet or to
printouts generated by the cash register / computer using the standard reconciliation form.
Where cash is involved, reconciliations must be carried out in a back office away from
customers/clients.
The data from the day sheet must be transferred to the internal cash transfer form and
reconciled. The purpose of the internal cash transfer is to prove the reconciliation and help
the main cashiers by showing the account codes, GST and cash denominations.
Reconcile cash float on no less than a weekly basis using the ‘imprest’ system.
Where discrepancies arise, assistance should be sought from the Management Accountant
or the Finance Director.
Cash transfer to cashiers
On the appointed day and time, the person responsible for cash control must:
•
Sign the internal cash transfer form.
•
Enter the totals onto a monthly summary sheet.
•
Attach the official receipts, EFTPOS dockets or day sheet where a booking system is
used.
•
Take the internal cash transfer form together with the cash to cashiers using policy
step 5.6.3 or 5.6.4.
Cashiers will provide an official computerised cashiers receipt which must be attached to
the appropriate day sheet.
Security
All cash must be secured at all times
At night, cash must be transferred to a back-office safe or a back office lockable cabinet.
Cash must be taken to cashiers no less than weekly. Campus Security may be used on
request.
Cash must be transferred using campus security where the amount is in excess of $250.
Administration
For audit trail purposes, cashiers will file away the daily bank reconciliation reports, internal
transfer forms, EFTPOS dockets and all receipts/documentation and in accordance of
record-keeping standards.
At the end of the month, the manager/ group leader should ensure that the variance report
tallies with the summarised internal cash transfer forms, advising the Management
Accountant where discrepancies occur.
All cashiers will be allowed a float appropriate to the circumstances; these floats to be
approved yearly by the Finance Director at budgeting time.
Should the coinage in the float be inappropriate for operating, change may be available at
the Windermere cashiers office.
Hardcopies of this document are considered copies of the original.
Please refer to the electronic source (Hinaki) for the controlled latest version.
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5.8
5.8.1
5.8.2
5.8.3
5.8.4
5.9
5.9.1
5.9.2
5.9.3
5.9.4
5.9.5
The function of Cashiers - Bongard
All cash (e.g. library fines and fees; BoPP student fees; internet & printing top-up,
miscellaneous purchases etc.) is recorded through ‘real time’ with a receipt given to the
customer.
Cash received from UoW students for tuition fees to be recorded through UoW’s Jasper
system.
A cash till will be operated using the ‘imprest system’. Each day, the takings (including
EFTPOS) less the float must be reconciled to the computer printout. Any discrepancies
notified to the Windermere cashier who should ask the Management Accountant for
assistance should a breach of security be suspected.
The money is to be placed in the safe overnight and transferred the next day to
Windermere using ‘sprint courier’.
The function of Cashiers – Windermere
All cash is recorded through real time with a receipt given to the customer.
Cash received via the ICT system will be checked to the ICT form and entered into ‘real
time’.
Cash received from UoW students for tuition fees to be recorded through UoW’s Jasper
system.
Cash received from other sources (e.g. library fines and fees; BoPP student fees; internet &
printing top-up, miscellaneous purchases etc.) to be recorded through ‘real time’.
Cash received from Bongard will be rechecked and placed in safe until reconciliation time.
5.10 Reconciling and Banking of cash
5.10.1 A daily ‘cash received’ report and a banking report from real time will be printed from both
UoW’s Jasper system and BoPP’s real time system. Reports will be by operator showing
cash, cheques and EFTPOS.
5.10.2 The imprest system will be employed.
5.10.3 Every day, reports must be reconciled to the various sources prior to banking and given to
the financial accounting technician who will reconcile to the bank statement.
5.10.4 Banking reports for BoPP and UoW to be filled daily.
5.10.5 Both BoPP and UoW cash will be banked daily using Post Haste NZ couriers.
5.11
5.11.1
5.11.2
5.11.3
Staff Petty Cash reimbursements (Windermere and Bongard)
This function can only be used for expense claims under $30.
Staff to download the petty cash docket form from the Hub.
All claims must have a GST receipt, coded to the department and authorised in accordance
with authority held.
5.11.4 The claimant must take all claims to cashiers who will
• manually record details of the cash issued, and
• require signature from the staff member on receipt of cash.
5.11.5 A spreadsheet summary of the petty cash dockets will form the basis of a cheque
requisition to reimburse the petty cash float on a timely basis.
Related policies
• F02 Purchasing Goods and Services
• F07 Personal Purchases
Related forms
• Petty cash docket
• Internal cash transfer (ICT)
Hardcopies of this document are considered copies of the original.
Please refer to the electronic source (Hinaki) for the controlled latest version.
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•
•
•
F13 Procurement of Goods and Services
F17 Travel and Reimbursement of Expenses
G16 Fraud
Hardcopies of this document are considered copies of the original.
Please refer to the electronic source (Hinaki) for the controlled latest version.
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