Financial Cash Handling Policy
Introduction
The Financial Cash Handling Policy at [Your Company Name] establishes the standard procedures for handling cash transactions. This policy aims to ensure the safekeeping of cash, prevent errors and fraud, and maintain accurate financial records.
Scope
This policy applies to all employees of [Your Company Name] who handle cash or cash equivalents in the course of their duties.
Cash Handling Responsibilities
Authorization: Only authorized personnel are permitted to handle cash transactions.
Training: All cash handlers must undergo training on cash handling procedures and fraud prevention.
Cash Receipts
Issuing Receipts: A receipt must be issued for every cash transaction, detailing the amount, date, and nature of the transaction.
Recording: All cash received must be recorded immediately in the company's financial system.
Cash Disbursements
Authorization: Disbursements must be authorized as per the company's financial delegation authority.
Documentation: All cash disbursements must be supported by appropriate documentation, such as invoices or expense reports.
Cash Safeguarding
Secure Storage: Cash must be stored in a secure location, such as a locked safe or cash register.
Limit Access: Access to stored cash should be limited to authorized personnel only.
Cash Reconciliation
Daily Reconciliation: Cash handlers must reconcile cash on hand with transaction records at the end of each business day.
Discrepancy Reporting: Any discrepancies in cash amounts must be reported immediately to the finance department.
Auditing and Monitoring
Regular Audits: The finance department will conduct regular audits of cash handling procedures and records.
Continuous Monitoring: Continuous monitoring will be conducted to identify any irregularities or areas for improvement in cash handling.
Policy Compliance
Adherence: All employees must adhere strictly to this cash handling policy.
Violations: Violations of this policy may result in disciplinary action, up to and including termination of employment.
