Cash Control Daily Procedures

Related Topics

Order/Receive Cash From the Bank

Complete the following steps to move cash from the bank GL 731000 to the vault GL 739100.

  1. On the Movements – Cash Movement tab, click the Sending Location down arrow and select Bank. The Branch field will default to the branch you are logged into. Click the down arrow to select a different branch or to select All. Then click the Sending Location ID down arrow and select BANK.
  2. Click the Receiving Location down arrow and select Vault. The Branch field will default to the branch you are logged into. Click the down arrow to select a different branch or to select All. Then click the Receiving Location ID down arrow and select 02Vault.
  3. Complete the appropriate coin and cash count information, then click Submit.

Increase/Decrease Teller Drawers with Cash

Use the following procedures to increase or decrease the teller drawers with cash using the Movements – Cash Movement tab.

To increase teller drawer cash:

  • Click the Sending Location down arrow and select Vault. The Branch field will default to the branch you are logged into. Click the down arrow to select a different branch or to select All. Then click the Sending Location ID down arrow and select 02Vault.
  • Click the Receiving Location down arrow and select Drawer. The Branch field will default to the branch you are logged into. Click the down arrow to select a different branch or to select All. Then click the Receiving Location ID down arrow and select TESTDRWR.

To decrease teller drawer cash:

  • Click the Sending Location down arrow and select Drawer. The Branch field will default to the branch you are logged into. Click the down arrow to select a different branch or to select All. Then click the Sending Location ID down arrow and select TESTDRWR.
  • Click the Receiving Location down arrow and select Vault. The Branch field will default to the branch you are logged into. Click the down arrow to select a different branch or to select All. Then click the Receiving Location ID down arrow and select 02Vault.

Coin for Deposit

If the teller has coin for deposit, the entry can be made anytime during the day or when the teller closes. The coin will initially move to the vault and then to the bank. During the day, complete the Movements – Cash Movement tab to move the coin from the drawer location to the vault. At close, enter the coin in the Cash for Deposit field on the Balancing and Close tab to move the coin from the drawer to the vault.

Teller Balancing

The following section discusses the teller responsibilities for balancing the cash location amounts and the corresponding general ledger entries. There are three important situations for the teller to recognize and be able to take the necessary corrective steps.

  • Cash shipments
  • Over and short situations
  • Drawers

Cash Shipments

The Movements – Physical Cash Count tab provides a physical cash inventory by denomination. Complete the following steps to balance cash shipments at the end of the day:

  1. Count the physical cash in the drawer.
  2. Enter the denominations on the Physical Cash Count tab.
  3. Click Submit. Cash Control calculates the cash in the drawer and displays the balance.

If the amount and denominations you enter are different from the previous cash total in the cash location, the transaction calculates the difference as the pending total, and the amount appears in the Pending Amount field on the Physical Cash Count tab.

The pending total may represent a cash shipment physically sent or received but not sent or received by the Cash Movement tab (moves cash shipments), Cash Send Only tab (sends in-transit cash movements), or Cash Receive Only tab (receives and reschedules cash movements). After the appropriate transaction is completed, the pending total should be zero.

Cash Over and Short Entries

When a cash over or short occurs, entries are made by the system each night when the teller closes. The system makes an entry in the amount of the adjustment figure on the teller’s Balancing and Close tab to the cash over or short general ledger account.

To confirm an over and short situation, recount the cash in the drawer and verify there are no outstanding cash shipments. Then, verify the cash disbursed or received from the member transactions. If the pending total is still not zero, the pending total represents an over and short situation.

Complete the Cash Movement tab for an over and short situation. Complete the Cash Receive Only tab, Cash Send Only tab, or Cash Movement tab for unaccounted cash shipments.

It is important that you recognize negative and positive pending totals in over and short situations when you complete the Cash Movement tab and what to do in each situation.

If the pending total is negative, use Cash Movement tab to complete a cash move from the correction location to the drawer location. This action debits (increases) general ledger account 739000 and credits (decreases) general ledger account 330000.

If the pending amount is positive, use the Cash Movement tab to complete a cash move from the drawer location to the correction location. This action credits (decreases) general ledger account 739000 and debits (increases) general ledger account 330000.

Drawers

With cash from the teller drawer, the pending total usually represents the net cash disbursed and received from members. Member cash transactions, as they are performed, do not update Cash Control.

Complete the Cash Movement tab at the end of the balancing period, which represents the net member cash transactions. Completing the Physical Cash Count tab for the drawer cash can also result in positive and negative pending totals.

If the cash in the drawer has increased by member cash transactions (cash received is greater than cash disbursed), the pending amount will be negative. Cash Control requires the teller to access the Cash Movement tab and move the cash from member to drawer.

If the cash in the drawer has decreased by member cash transactions (cash disbursed is greater than cash received), the pending amount will be positive. Cash Control requires the teller complete the Cash Movement tab to move the cash from the drawer to the member.

Bank Deposit

The bank deposit is made by the system when the teller closes each night. An entry is made in the amount of checks received from the teller drawer to the B DEPOSITS location. The appropriate entry to record the deposit to the bank general ledger should be made using the Basic Journal Voucher window.

Checks Disbursed

The system makes an entry for all the checks the tellers disbursed to general ledger 731000.

ATM Balancing With Cash Control

Complete the following steps to balance the ATMs for branch 000.

  1. Credit Union’s Member’s (and Foreign Member’s) Deposits at Credit Union ATM (two transactions): Use the Transactions – Teller Sales/General Ledger tab to credit the ATM-intransit GL 875500 for all deposits. Then, complete the Basic Journal Voucher window, debit Foreign Members 875500 and credit Corporate Account 745000.
  2. Credit Union’s Members’ Withdrawals at Credit Union’s ATM (one transaction): Complete a Cash Movement tab sending cash from the ATM to the receiving correction location. The amount goes in non-denominational amount.
  3. Credit Union’s Members’ Deposits/Withdrawals at Foreign ATM: This is a net of cardholder’s debits/credits. Complete the Basic Journal Voucher window. If withdrawals are higher, debit 875500 and credit 745000. If deposits are higher, credit 875500 and debit 745000.
  4. Foreign Members’ Withdrawals at Credit Union’s ATM (2 transactions): Complete a Cash Movement tab sending cash from the ATM to the receiving correction location. Then, complete the Basic Journal Voucher window, debit 745000 and credit 875500.
  5. Fees – Income/Expense for Credit Union: Complete the Basic Journal Voucher window, debit 267000, credit 131000, and debit 745000.