Financial Services

Cash receipting and banking procedure

Further information

Flowchart

Follow the procedures outlined here when providing receipts to customers and banking monies.

Receive money

Finance Officer receives money – cash, cheque, bank draft or credit card details.

Responsibility: Finance Officer

Document receipts of monies from non-debtors

  • Finance Officer records all non-debtor receipts by completing UWA Tax Invoice / Receipt Book.
  • Receipts via credit card to be separated from cash and cheques.
  • Receipts from debtors to be separated. Do not complete UWA Tax Invoice / Receipt Book for receipts from debtors.

Responsibility: Finance Officer

Separate out receipts from debtors

  • Debtors means customer paying for an UWA invoice
  • Receipts from debtors to be separated from non-debtors' receipts.
  • Do not complete UWA Tax Invoice / Receipt Book for receipts from debtors.
  • Submit monies received from debtors, together with supporting documents, such as remittance advice from customer to Financial Services for processing. Ensure information like PG#, BU#, AC# and UWA Invoice Number is clearly stated for Financial Services.

Responsibility: Finance Officer

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Issue receipts to customer

  • Non-debtors: Finance Officer to issue white copy from UWA Tax Invoice / Receipt Book to customer
  • Void / cancelled receipts to be witnessed and signed-off by Manager or other staff member (not the person voiding the receipt).

Responsibility: Finance Officer / staff member receiving monies

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On banking day

  • Match up / reconcile monies received against UWA Tax Invoice / Receipt Book.
  • Complete Bank Reconciliation Summary Sheet and sign off as Preparer.
  • Attach all supporting documents to Bank Reconciliation Summary Sheet.
  • Submit all for approval prior to banking.

Responsibility: Finance Officer

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Check and approve banking

  • Signs off Checked by column on the Bank Reconciliation Sheet.

Responsibility: Supervisor / Manager

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Banking at Cashier Financial Services

  • Finance Officer takes money and pink copies from UWA Tax Invoice / Receipt Book to Financial Services for processing.

Responsibility: Finance Officer / Financial Services

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Retain paperwork and supporting documents in office

Responsibility: Finance Officer

Personalise the system flowchart

We strongly recommend that all Business Unit personalise the Within the BU flowchart to suit your business. It is also recommended that the Faculty Support Accountant, in consultation with the School Manager, populates the Personnel columns with staff name.

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Key control addressed

Step 5
Frequency of cash counts and banking.
Step 5
Reconciliation between cash collections and banking documentation.
Steps 7 & 8
Evidence of banking deposited.
Step 6
Segregation of duties within the cash receipting function.
Step 4
Approval requirements for processing void transactions.
Step 7
Issuing receipts when collecting cash.
Step 8
Retention of records for audit purposes.

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Location of related policies and forms

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