Professional Cash Handling

Course details

Cash management is the most important internal control function as cash is liquid and hence the most vulnerable asset. To manage cash and enforce strong internal controls ensures that there are no eases of fraud and error. Cash and bank related frauds form the chief threat to all businesses. In this course participants will learn how to manage cash in the most effective way while safeguarding against liquidity issues and frauds and how to manage bank accounts for optimum utilization. It will also cover the full cycle of cash management from receipt to entry in the system.

Expected Accomplishments

• Understanding of the overall cash process from the time proceeds are collected to the time they are deposited in the bank and recorded in the general Ledger.
• Get an overview of the related business process, policies and procedures.

Course Outline

• Managing firm bank accounts
• Conditions for employment in a cash handling environment
• Receiving cash
• Treatment of bills and other cash equivalent receivables
• Physical security
• Preparing transfers and depositing to the bank
• Recording to the general ledger
• Returned cheek
• Fraud prevention techniques
• Reconciliation of bank statement to general ledger
• Petty cash Ft change in fund, cheque cashing