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Cash and check are very important financial factors in the field of business. It defines the growth and establishment of a business. Hence, it is very important to handle it properly. To learn the procedure for handling the same is important for making all the responsible employees efficient and skilled about money fund or check, collection and deposition. It is required to control the risk factors from miss handling the money or check. For more information please click on 24x7assignmenthelp.com and get help from our Procedures for Handling Cash and Check for Deposit homework help.
Important measures to be taken
To handle all the procedure perfectly and securely company has to take few specific steps. Those are discussed below:
- The entire fund should be kept in a secured place like locked drawers, cash locker, safe deposit vault etc.
- Limited and trust worthy employees should get access in it
- The key or password of this locker should be entrusted to responsible person
- Only a responsible and trusted employee should be selected to deposit the cash and cheque
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Notable steps for perfect deposition
For perfect deposition of cash and cheque company should take some policies
- Responsibility should be given to a person who is not involved in collection of all kind of funds and checking the related mail.
- Deposit should be done in a fixed interval of time such as weekly or monthly.
- Cash and cheque should be deposited intact
- If there is any error in a cheque then it should be get back to the payer should not be deposited.
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