What Are The Rules Required For Internal Check Over Cash Receipt?

The letters received by post should be opened by an officer. The cheques received from debtors can be recorded in the registers. The incoming letters should be entered in the receipts registers. The accountant can pass an entry in the books of accounts for the receipt of cheques. The amount of cheques must be the same as recorded in cash book. The amount is stated in local currency. The cheques and cash received from customers can be deposited into bank account. The amount must tally with the cash book and pay in slip. The banker seal must be used on corner foils.

The printed receipt can be issued top the persons who make payments by cheques or cash. The current receipt book must be in possession of person responsible for collections. The printed receipt must bear the numbers. These numbers should be entered in the books of accounts. The serial numbers are essential for avoiding errors and fund in books of accounts.

The customers may be asked to make payments by means of crossed cheques. The payments and receipt become safe due to crossing. The drawer of cheques can cross it. The cashier can receive cash or cheques on behalf of business. He can not record entries in the books of accounts. The division of work is a part of internal check over cash receipts.