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INTERNAL CONTROLS
AND ACCOUNTING PROCEDURES



Cash Receipts


Control Objective: To ensure that all cash intended for the organization is
received, promptly deposited, properly recorded, reconciled, and kept under
adequate security.


POLICIES


* Receipts are marked by the program they apply to and with the check # or
petty cash to indicate the account from which they were paid.


* All checks are stamped with "Deposit only" stamp immediately upon receipt.


* All cash receipts are recorded on pre-numbered duplicate receipts.


* The Bookkeeper or office aid will be responsible for preparing the documentation
on receipts for deposits. Once the documentation has been reviewed and approved by the Executive Director or Accountant, the Bookkeeper/Aid will be responsible for making bank deposits. Until a paid staff is established the Executive Director will complete these tasks.


* The Bookkeeper or office aid prepares the monthly cash listing to be compared
to the general ledger (amount, date received, account number, etc.). Until a paid
staff is established the Executive Director will complete these tasks. When a
paid staff is established and receipts volume warrants this will become weekly
and eventually - daily activity.


* Deposit slips from the Credit Union are filed in the Credit Union folder
for that fiscal year. They are compared with the corresponding sales receipt
copies, cash listing and Credit Union account reports. Executive Director
and/or Treasurer complete these tasks.

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Uptown Multi-Cultural Art Center (UM-CAC). Click here for contact Info or to E-mail UM-CAC at umcac@art-teez.org click here. Ph.773/561-7676

Peachtree tutorial Introduction Peachtree Accounting illustrated ART-ACT Art Peachtree Accounting illustrated SPW Art Peachtree Accounting illustrated Art Gallery Peachtree Accounting illustrated Web School Peachtree Accounting illustrated Support Us
NEXT PAGE Peachtree Accounting illustrated Previous Page Peachtree Accounting illustrated Income/Expense Stm. Peachtree Accounting illustrated Att. Gen. Report Peachtree Accounting illustrated T-shirts Sold