Recording keeping function

Creating and maintain department record such as processing and posting transaction and cash
register, record for select transactions manually and repairing cash receipt backups caring (1988)

Authorization function
Reviewing and approving of transaction example invoice funds and other correcting entries,
approving cash transfers, and movement of assets. should be authorized by the management
organization of the responsible person.

Reconciliation function
assurance that transaction are properly taken place, it is present at a supervisory level or by
accounting, office example comparing funds collecting to the account receivable, posting
comparing collection to deposit and comparing departmental record of revenue to the general
ledgers.

2.4.2 Accountability
Proper accountability is present when on asset (cash) and all cash handling activities, and
accounted for properly documented and transferable to specific cash handle, the following
function should be performed in order to maintain a proper accountability structures.

Individual accountability
Proper delegation of authority and responsibility means that knowing who was access to an asset
and why they access, it is represent when transaction are identified to a person, individual cash
drawers, areas signed to each handles and separate password are served.

Cash accountability
Proper securing means knowing where asset can is at all times it present when all funds, remain
properly secured receipt are given to each and every consumer and keys and ward are secured.
Process accountability
Proper documentation means knowing what was acquired from beginning of process to end of a
process it is resent than all transfers are well document and receipt are properly prepared and
secured caring (1988).

Security monitory
Means that the safety of and transport of asset are taken in its consideration and follow, up
proper protocols, and procedure, it is present when two people and involved in handling cash,
assess, one properly and transported.

Transaction records
Transaction are correct and the appropriate backup is maintained, it is present when delay receipt
are reconciled to cash register totals and the receipt collected.

2.6 Investment of surplus (Idle) cash

Investment is the alternative in order to manage properly the idle or surplus cash, bank are one
financial and institution which hold surplus, of cash for short or time and with to earn at least
some return on temporarily idle cash, the primary function of a bank are to act as a depository for
its customers, funds to meet the credit needs for its service area, the excess amount of cash hold
by firm to meet its variable cash requirement and future contingencies should be temporarily sell,
in national backup source, of liquidity to meet those uncertainty follows.

2.7 Managing cash receipt and payment

Cash receipt and payment management if to assure that all cash receipt and payment of company
properly managed for the purpose of the company.

2.7.1 Internal control over cash receipt

To assure that all cash recipe by a business organization should be recorded without any miss
appropriation the system control over cash receipt takes place in to ways the firm one is cash
over counter and cash control by mails from charges.
2.7.2 Internal control over cash payment
Cash disbursement are particularly exposed to found and embezzlement to avoid the cash should
be paid only after the pre receipt of specific authorization by the document that establish the
validity amount of the client besides, to those duties in the purchase of good and services, and
payment for them should separate.