CASH AND BANKING MANAGEMENT WORK FLOW

Stage 1

A customer makes a cash or an Electronic Fund Transfer (EFT) payment using an

invoice as the basis of payment. In the absence of an invoice, a quote slip, an
instalment plan or a binder can be used.

Stage 2

EHS will prepare a receipt immediately as a proof of payment. Where a customer has
made a partial payment towards an invoice, a statement of account will be issued to
reflect the reduced indebtedness. In case of a customer issuing a cheque, a receipt
will only be issued once the funds reflect in EHS’ account.

a. Any shortfall on cash arising from theft and or any other cause must be reported
to the Chief Executive Officer within an hour of such occurrence.

b. Any missing or lost cheques must be reported to the Chief Executive Officer
within 24 hours of such loss.

c. No refunds of cash already received from a customer must be made in cash. All
requests for refunds should be documented. Refunds will only be made through
Electronic Fund Transfers (EFTs).

Stage 3

Cash and cheques received must be secured in a lockable safe and Banking done
within 24 hours of receiving the cash and cheque payments. The banking slips and
books must be locked up in a safe and all finished books should be safely secured
and kept in a lockable cabinet.

Stage 4

Any cash or cheque that is due for banking must have a banking slip indicating the
following:-

a) Name of the policyholder/customer;

b) Receipt number;
c) Indicate if cash or cheque, and if it is cheque, indicate cheque number;
d) Bank and branch where the cheque is drawn;
e) Correct amount as per the receipt;

No cash or cheques must be deposited without issuing a receipt.

Stage 5

Weekly banking report must be sent to the Chief Executive Officer every Monday
morning before 10:00 hours. If such a day falls on a public holiday then the report
should be sent on following working day before 10:00 hours.