In business there is a great risk of cash misappropriation so there is a need of safety measures. There are following system may be adapted to control over cash receipts.
1. Writing of ledger:
The cashier doesn't write the ledger it should be written by other person cashier should not have control over the ledger.
2. Presence of Officer:
All the new letters should be opened under the supervision of a responsible officer.
3. Cheque's should be crossed:
All the cheques and drafts in the mail must be crossed and noted in the daily and then delivered to the casher.
4. Comparison:
The cash book must be compared with the dairy cash book and pass book entries should be reconciled.
5. Issue of receipts:
A printed sequential numbered receipt should be issued for the amount record.
6. Counterfoil:
Receipt of money should be in double or its counterfoil must be prepared and kept for reference, unused receipt books must be kept safety.
7. Daily Deposit:
All the receipt of cash and check must be deposited on the same day or next morning.
8. Use of Cheque::
Sometime payment received cash may not be used always cheque should be used for payment.
9. Sound system to cash sale:
There should be a sound system of cash sales recording method of cash sales should be cash well organized.
10. Collection of cash by agent:
Three copies of cash receipts should be prepared by the agent. One should be given to party, second should be sent to office and third should be kept by the agent agents should also be paid by the cheque.
Cash Receipt Sample
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