Cash Handling Controls

The following video illustrates several common cash handling mistakes. Below the video you will find key control points for improving cash handling.  Also, see related policies regarding cash handling and related news articles about how bad cash controls can lead to theft.

Control Points

  • Personal funds should never be mixed with change or petty cash funds.
  • Transactions should always conclude with the issuance of a sequentially numbered and, if possible, system generated receipt.
  • Cash and checks should always be physically secured.
  • Personal loans should never be made using change or petty cash funds.
  • Deposits should be reviewed by an employee who was not involved in the cash collection process.
  • Discrepancies in deposits should be brought to the attention of management immediately.
  • Prepared deposits should be kept in a locked safe until picked up or deposited.
  • Receipts should only be issued after the transaction is complete and all cash/check/other funds have been collected.
  • Checks should be restrictively endorsed when received.
  • Proper identification should always be verified when accepting checks.