​​​6.1.5 Handling Cash, Checks, and Credit Cards

General principles and procedures:

• Cash, check, and credit card handling duties must be separated (i.e., the person accepting payments must be different from the person entering those payments into the ledger; another person prepares deposits and yet another person must make the bank deposits).

• The person in charge must supervise the bookkeepers and business managers and review their work regularly.

• Immediately endorse all checks for bank deposit only.

• Accurately record all cash, checks, and credit card payments as soon as possible.
  

• Keep cash and checks in a locked, secure location, with access limited, pending deposit.
  

• Do not leave cash or checks unattended at any time.
  

• Issue a receipt to the payer and keep a duplicate on file (electronic or paper).

• Do not make cash disbursements from cash received before the cash is recorded.

• Deposit all cash and checks in the bank in a timely manner (at least weekly).  For large amounts, use a person who is bonded or a bonded courier or delivery service (e.g. Brinks).
  

• Do not pay bills with cash 
  

• Peer to Peer financial transfer services (e.g. Zelle, Venmo, PayPal etc.) are only permitted as described in Section 6.​1.6​ .
  

• Digital wallets, Apple Pay, Samsung Pay, Google Pay, Cash App, etc. are acceptable methods to receive payments in the same manner as credit cards​
  

• Do not cash paychecks.​

• Do not cash or accept checks made payable to "Cash."

• Do not pay cash back on a check or credit card transaction.

• The person in charge must review regularly all bank ​statements and transactions for all accounts (ministries, ca​pital campaign, fiesta, parent association, scr​ip, bingo, extended care, preschool​, etc.).

• A designated administrative staff member (e.g., bookkeeper or business manager) must reconcile bank statements every month.