Human Resource Development and Organizational Performance
Finance Office
Cash Handling and Banking Procedures
1
Contents
Page
1
Introduction
3
2
Accountability
3
3
Payment methods
3
4
Receipt of income
4
5
Cash handling
4
6
Reconciliation of income
5
7
Banking preparation
5
8
Security company – collection of cash
8
9
Safes and insurance
8
10
Petty cash
9
11
Banking of unused foreign currency
11
12
Print credit machines
11
Appendix 1
Extract from GCU Financial Procedures
Date of preparation: April 2011
Date of updates: September 2012
2
1.
Introduction
The management and safekeeping of cash is of prime importance to the University. It is essential that all University staff adhere to the Cash Handling and Banking Procedures in place to reduce the risk of misappropriation of funds to the University and to protect all staff dealing with cash as part of their duties. Failure to adhere to the Procedures is a serious matter and will be dealt with in line with the
University’s Disciplinary Policy.
Cash throughout this procedure document not only relates to GBP notes and coins but also to foreign currency, cheques, credit card transactions, bank drafts and postal orders.
This procedure document applies to all locations where cash is collected and it applies to the
University and its subsidiary companies.
The GCU Financial Procedures extract at Appendix 1 provides information on the receipt of income together with the course of action to follow should a cash discrepancy occur.
2.
Accountability
It is the responsibility of all staff handling cash or coming into contact with cash as part of their duties to understand and adhere to the Cash Handling and Banking Procedure s in place. Failure to do so will result in appropriate disciplinary action being taken.
3.
Payment methods
Income can be received by the following means:
Online Payments
You can pay tuition and university accommodation fees online through the Online Payments System at http://onlinepayments.gcu.ac.uk.
Online payments
Cash Handling and Banking Procedures
1
Contents
Page
1
Introduction
3
2
Accountability
3
3
Payment methods
3
4
Receipt of income
4
5
Cash handling
4
6
Reconciliation of income
5
7
Banking preparation
5
8
Security company – collection of cash
8
9
Safes and insurance
8
10
Petty cash
9
11
Banking of unused foreign currency
11
12
Print credit machines
11
Appendix 1
Extract from GCU Financial Procedures
Date of preparation: April 2011
Date of updates: September 2012
2
1.
Introduction
The management and safekeeping of cash is of prime importance to the University. It is essential that all University staff adhere to the Cash Handling and Banking Procedures in place to reduce the risk of misappropriation of funds to the University and to protect all staff dealing with cash as part of their duties. Failure to adhere to the Procedures is a serious matter and will be dealt with in line with the
University’s Disciplinary Policy.
Cash throughout this procedure document not only relates to GBP notes and coins but also to foreign currency, cheques, credit card transactions, bank drafts and postal orders.
This procedure document applies to all locations where cash is collected and it applies to the
University and its subsidiary companies.
The GCU Financial Procedures extract at Appendix 1 provides information on the receipt of income together with the course of action to follow should a cash discrepancy occur.
2.
Accountability
It is the responsibility of all staff handling cash or coming into contact with cash as part of their duties to understand and adhere to the Cash Handling and Banking Procedure s in place. Failure to do so will result in appropriate disciplinary action being taken.
3.
Payment methods
Income can be received by the following means:
Online Payments
You can pay tuition and university accommodation fees online through the Online Payments System at http://onlinepayments.gcu.ac.uk.
Online payments