Handling Cash or Checks

If you handle cash or checks for your department, you can use this page to gain knowledge to fulfill your job duties.

Essential information

• Cashiering Services overview
• Before you make a deposit
• Critical cash control procedures
• Security policies and procedures
• Petty cash overview and guidelines

How to do the job

• Complete a Deposit Advice form
• Make a deposit
• Obtain an endorsement stamp
• Order currency and coins

Helpful resources

• Currency and coin denominations
• Cash Handling (online tutorial)
• Contact information for all cashier's offices
• Cash Controls Self Assessment Form

Important Cash Handling Requirements

Click here to view the BUS-49 policy.

Receipting and Recording

• Payments are recorded immediately upon receipt.
• Checks are made payable to “UC Regents” or “Regents of the University of California” at all times.
• Immediately upon receipt, checks are restrictively endorsed “for deposit only.”
• A documented review of voided transactions, on the day of occurrence, is performed by someone other than the individual that processed the voided transaction.
• Receipts are properly accounted for, and traceable to each individual.
• Mailed-in payments are opened by two individuals, and documented on a log. An independent person (who does not handle cash) should review the dual-signed log and verify that all payments on the log were deposited intact.

Timely Deposits

• Collections are deposited at the TritonPay Office/bank at least weekly or whenever collections exceed $500. For example, if collections in one day exceed $500, the monies should be deposited that same day.

Physical Security

• Monies are stored per policy, up to $1,000 in a lockable receptacle, and any amounts over $1,000 in a safe (see BUS-49 policy for safe requirements).
• Monies are transported to the TritonPay Office by secure armored car service or by employees in dual custody.
• The safe's combination is given only to supervisory and authorized personnel, who must then commit the combination to memory.
• For emergency access, a record of the combination should be sealed in an envelope to be opened only under dual custody. To prevent undetected access, the envelope must be maintained away from the safe area.

Preparing Deposits

• Deposits are validated and prepared under dual custody at all times in a safe and secure area.

Accountability

• Accountability is maintained for access to cash storage areas.
• Procedures should require all staff to verify and document that collections are intact when transferred between personnel. Verifications should be done in the presence of both persons transferring funds.
• “Do Not Duplicate" is marked on all keys to cash storage areas to deter unauthorized copying.
• A key log is maintained.
• Back-up keys to repositories used to store payments are maintained under a dual-custody arrangement.

Separation of Duties

• No single individual is responsible for the collection, handling, depositing, and accounting of cash received by the unit.

Petty Cash and Change Funds

• An unannounced cash count and verification of change and petty cash funds is performed periodically, at least quarterly, by someone other than the fund custodian. Verification of cash balances must be performed in the presence of the petty cash custodian and must be documented.

Reconciliation

• Periodic reconciliation of deposits to the general ledger/bank statements is performed and documented by the individual responsible for this review.