Cash checks

Posted by Imam Larh on Friday, 16 February 2018

1. How to cash checks
One of the supervisory activities of the cash is the examination of cash that mutations performed by internal examiner. Cash checks are done by:

  • Hold a verification (testing) of notes, documents, transactions, and checks-checks related to the activity of management of cash for a certain period. For companies who all his cash deposited to the bank, on a certain to date is recorded as existing in the cash balance of the company must be the same as the penchant that is in the bank.
  • Hold the examination of physical cash, by calculating the cash and other cash objects that exist in the company.
  • Note:
  1. This inspection is very important to do on companies that do not have an account at the bank.
  2. For companies that make all of the funds to the bank, a physical examination is performed for the benefit of cash against surveillance against the petty cash fund and other funds.
Physical examination of cash done by counting of cash through existing records and counting in physically. Then the second note the comparison, where the total cash balance physically should be equal to the amount of the balance according to the records. When counting physical larger than on the calculation according to the notes, called the cash difference. If the State instead, referred to the difference in cash.


2. The cause of the difference in cash
The cause of the difference in cash, among other things:
  1. The loss due to the confusion of the moment, for example on sales transactions, when giving change, the difference in cash is usually known before the money deposited to the bank.
  2. Record-keeping Errors, either the receipt or expenditure of cash. difference between cash and the cause was unknown at the time of the examination or after receiving a report from the bank cash mutations, i.e. when the record company did not correspond to the notes according to the bank.

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