An inventory of cash involves checking the conformity of available money and the amount that is indicated in the statements. Such reconciliation is carried out regularly at the enterprise, the frequency is determined by the head of the organization and is fixed in its accounting policy.
An inventory of cash at the checkout obliges the cashier to stop issuing money and accepting payment documents for the period of reconciliation. In addition, the cashier is personally responsible for the safety of banknotes and the correctness of all documentation. The company cashier has no right to keep personal items in the workplace, especially money. Any excess amount is accounted for by the inventory commission and is not refundable. The materially responsible person must be informed about this upon assuming office.
The inventory of funds is carried out by a specially organized inventory commission on the basis of the order of the head of the enterprise. This commission includes the chief accountant, the chairman of the administration of the enterprise, and, of course, a financially responsible person. If necessary, the commission includes independent audit firms that control the impartiality and correctness of this procedure. As a result, an act of inventory check is completed.
Before starting the reconciliation, the cashier must draw up the last cash report, then write a receipt that all payment documents have been handed over to the commission with the rules being followed. Only after compliance with the formalities does the inventory commission start checking documents. First of all, the completed documents are checked with the established samples and the correctness of filling in the main registers is controlled. Particular attention is paid to the cash book, since all entries in it must be justified by the primary documentation. In addition to the fact that the book must be properly designed, it must have the proper appearance, that is, the presence of the seal, all the necessary signatures, lacing and pagination are checked .
At the cash desk of each enterprise there is a cash limit, the excess of which is allowed only in the case of the issuance of wages, travel expenses, allowances and scholarships. An amount exceeding the limit indicated by the service bank may be at the cash desk only with documents confirming its expediency and for a period not exceeding three days. After checking the documentation and subject to the cashier's rules for its maintenance, cash is recounted.
Cash audit methodology
All banknotes are recounted in bills. As a rule, the amounts at the cash desk are considerable, so the commission is obliged to draw up an inventory to record the amount of notes of each denomination. In this document, as well as in the act of inventory, must be the signatures of all participants in the audit. Based on the result of the recount, it is possible to judge whether there is an excess amount or its deficiency. Information on this subject is indicated in the act with the signature of the financially responsible person.
The cashier is required to explain in writing all the violations identified and submit a commission report. When the inventory of funds is completed, a final act is drawn up with a detailed description of the results. It is usually filled in several copies, because one is handed over to the financially responsible person as evidence in case of disagreement with the commission, and the other is sent to the accounting department. The commission should report to the head about the work done and its outcome.
An inventory of funds should be carried out at each removal from office of a cashier and replaced by another employee. In this case, the act of verification results is drawn up in triplicate. One is given to the cashier, the second to the applicant in his place, that is, to the replacement employee, and the third, as expected, is sent to the accounting department.