Accounts and Cash Handling Homework Help

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The Cash handling department in the firm or company in one of the most important areas. As its name indicates, the people working in cash handling department are responsible for all the monetary or fund collection as per the assets of the firm. Cash handling departments are commonly found in the educational institutes that have a huge number of students studying. Just like their educational expenses, hostel expenses, etc. there are several other charges that are supposed to be collected by the cash handling department. In our Accounts and cash handling homework help we define various levels of cash handlings with their classifications for the students studying the subject or topic.

What is cash handling and its controls?

Cash handling departments provide direction to the various departments for collecting the funds after all the cash handling responsibilities have been clearly defined. For the protection of a firm’s assets, certain internal control requirements are established. Our Accounts and cash handling homework help team have compiled it for you as follows
• Segregation of duties
• Proper receipting and documentation
• Uses of restrictive endorsement
• Proper safeguards for handling and liquidating the cash
• Timeliness of deposits

Cash handling roles and responsibilities

There are various levels at which the responsibilities and roles of the department are defined. In our Accounts and cash handling homework help we define every role and responsibility separately.
1. Department level
a. Policy: a department administrator or a D.A can be the person for this post. Local cash handling control manager should be appointed in this post if not taken by the aforementioned person.
b. Description of role: effective and timely communication with the local cash handling managers with all the required receipts. He/she should update the cash handling roles in an accurate manner too. Our Accounts and cash handling homework help team experts can define it elaborately as they have worked for long in such positions.
2. Sub department level
a. Policy: a cash collection point supervisor is to be allotted for this position. The person should be a separate one than already defined ones for different roles.
b. Description of role: safe guarding against loss should be the prior consideration. At the payment receipt location or the payee he/she should maintain strong internal controls. Local cash handlings in an annual pattern are to be reviewed. Any change in staff role should be updated to the cash handling department.
3. Biller
a. Policy: it is an optional role. It should be an individual separated from different roles. In case of fewer options a reconciler can be opted for this position.
b. Description of role: creation or invoice, recording the sales as appropriate and updating the account receivable system should be the concerns of the biller.
4. Cash collection point cashier
a. Policy: a deposit prepare can be allotted for this kind of work.
b. Description of role: conduction of cash transaction of the customer and providing them with proper receipt after the payment. Entering transactions into account receivable system, as our Accounts and cash handling homework help team experts have done. Counting of cash and depositing it to cash collection point supervisor with proper documentation.
With our Accounts and cash handling homework help we can ensure a compatible and enhancing experience of knowledge distribution.
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