Collection of cash. That includes the banking operation - full description

Collection of cash - what is it? Probably many people ask this question. This article will help to understand. To begin to give a definition of the term presented. So this is the procedure for the collection and subsequent transportation of currency as between different organizations and between departments of one. In addition, the collection of cash involves moving of any values. For example, important documents, precious metals, credit cards and more.

Procedure

Because collection of cash, bills, payment and settlement documents, as well as other banking procedure is a cash transaction, you need some papers. For a start, is a contract between the provider of collection services, and the firm where they are needed. However, it should not be confined to legal persons, since there are situations in which the collection of cash for individuals is also in demand.

It is Important to remember that organization to provide such services work closely with the banks, which, in turn, monthly issue number the safe house card. They shall detail: name, contact details, address and working hours of the organization, the numbers assigned to them handbags, but also the time and frequency of arrival of the collectors. Of course these latter data are determined in accordance with the volume of transported banknotes. Each empty bag involved in this process is assigned its own number. Then the head of the collection service will agree with the client organization arrival time specialized machines.

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Broad

Of Course, a process called “collection of cash” requires compliance with many rules, one of which is not only getting empty bags, but also registration of accompanying documents. So, the list of all necessary issued to the employee before departure, as follows: specialized capacity, marked with an individual number, keys, stamp, recruiting cards, and also proxy for transportation of the currency funds or other values.

Actions upon arrival

Regulations prescribed sequence of actions that is required to produce an authorized officer delivered to the place of provision of required services. To begin with, the cashier is obliged to check the identity documents by new arrivals, authorization to transport, recruiting card, and make a new empty bag assigned to this company. And in turn, provide a sample of the seal and filled the money bag, not forgetting to attach the appropriate invoice and receipt. In addition, the duties of a cashier includes the drawing up of the document, which specifies all the operations. Then the sheet and filled in the registry are checked for compliance with the stated amounts of paper and put into a bag with cash. The following paragraph, which involves a process called “collection of cash”, can be considered the procedure of sealing. In the presence of the cashier must verify the integrity of the supplied seals and bags, as well as the inaccessibility to the inside content. The employee served the organization fills a safe card, then the authorized person verifies the number on the receipt and on the invoice. In that case, if the person filling out the card the cashier a mistake was made, it should immediately correct to correct the record. This action should be committed by the same employee. The correctness of the new marks shall be signed by the cashier.

Important terms

In the process of receiving bags full of cash and all related documents, the collector shall sign a receipt, certifies it with a stamp of the organization and prescribes the date after which returns it to the cashier. However, there are occasions when an employee of the merchant finds various violations. It is important to note that deviation from prescribed rules are not only defects of the bags, and sealing, but also incorrect preparation of accompanying statements to her. The question immediately arises: what to do in this situation? Collection of funds will be successfully completed, if the defects can be eliminated in the presence of an authorised person, respecting his / her work schedule. In that case, if to take actions on elimination of violations in the shortest time is not possible, the reception bags are not made. Therefore, collection of cash (in store, for example) is carried out at a subsequent visit the service organization. Of course, do not forget to put the appropriate mark in the column "re-runs" spur of the sheet.

Reception bags in the Bank

This procedure has some specific differences and is considered more complex than a cash Bank notes and other materialvalues a collection service. First we need to note the order of actions performed by a Bank employee structure. He is obliged to verify compliance of the submitted entries in all the attached documents: invoice, recruiting card or receipt, and inspect the bag for damage (such as patches, fabric rips, seams, tears framing or there is the appearance of the nodules), to identify the defectiveness of seals and locks. This is followed by reconciliation of the numbers listed on the bag and on the accompanying documents.

Violations at this stage

If an employee banking service revealed inconsistencies in the accompanying papers, is recorded in the notes column of the audit log, which is later endorsed by both the host and the dealer side. In that case, if the bag finds any signs of damage, it is subject to autopsy with subsequent recalculation of the content (the piece or tile). Detection of shortage or surplus is recorded in the autopsy. There also are recorded the name and details of the organization, date and reason for the autopsy, as well as the position, surname and initials of the employees who performed the autopsy and who was present with him, the details of the room, where was carried out this procedure.

Collection of cash: transaction

Because the above procedure falls under the category accounting, it is necessary to make a cash withdrawal slip, which will be used in account 57 ‘cash in transit,”. It is considered convenient both for organisations and for the collectors. Consider the following example. The organization needs to pass the $ 700 thousand. E. to the Bank for further credit to a certain account. The Commission is 0.2% from the value.

Thus, the collection of funds is graphically represented in the table above.