Cash collection - what is it? Probably many are asking this question. This article will help you figure it out. To begin with, a definition of the presented term should be given. So, this is the procedure for the collection and subsequent transportation of cash currency both between different organizations, and between units of one. In addition, the collection of funds involves the movement of any valuables. For example, important documents, precious metals,
bank cards and much more.
Order of conduct
Since the collection of funds, bills, payment and settlement documents, as well as other banking procedures, is a cash transaction, some paperwork is required first. To begin with, a contract is concluded between the organization providing collection services and the company for which they are needed. However, you should not be limited only to legal entities, as there are situations in which cash collection for individuals is also in demand.
It is important to remember that organizations for the provision of such services work closely with banks, which, in turn, issue monthly security numbered cards. They detail the following: name, contact information, address and time of the organization, the numbers assigned to the bags, as well as the time and frequency of arrival of collectors. Of course, the last of the listed data is determined in accordance with the volume of transported notes. Each empty bag participating in the described process is assigned a unique number. Then the head of the collection service will coordinate with the organization serviced the time of arrival of the specialized vehicles.
Everything you need
Of course, a process called “cash collection” requires compliance with many rules, one of which is not only the receipt of an empty bag, but also the execution of related documents. So, the list of everything necessary that is given to the employee before leaving looks like this: specialized capacity indicated by an individual number, keys, stamp, security cards, as well as powers of attorney for the transportation of foreign currency or other valuables.
Arrival Actions
Normative acts spell out the sequence of actions that an authorized employee must deliver to the place of provision of the required services. To begin with, the cashier is required to check the identification documents of the arrived person, the power of attorney for transportation, a security card, as well as accept a new empty bag assigned to this company. And, in turn, provide a sample of the seal and a bag filled with banknotes, do not forget to attach the corresponding invoice and receipt. In addition, the duties of the cashier include the preparation of a document, which indicates all operations performed. Then the statement and the completed register are checked for compliance with the declared amounts, and the papers are put in a bag of cash. The next item, which includes a process called “cash collection”, can be considered a sealing procedure. In the presence of the cashier, it is necessary to check the integrity of both the delivered seal and the bag, as well as the inaccessibility to the contents inside. An employee of a serviced organization fills out a security card, after which the authorized person checks the numbers on it, on the receipt and on the invoice. In the event that a cashier made a mistake when filling in a security card, then it must be immediately corrected for a correct record. This action must be performed by the same employee. The correctness of the new mark is certified by the signature of the cashier.
Important Terms
In the process of receiving a bag with cash and all related documents, the collector signs the receipt, certifies it with the organization’s stamp and prescribes the date, and then returns it to the cashier. However, there may be cases when an employee of a service facility finds various violations. It is important to note that a deviation from the prescribed rules is not only defects in the bag and sealing, but also the incorrect compilation of a transmission sheet to it. The question immediately arises: what to do in such a situation? The collection of funds will be successfully completed if the defects found can be eliminated in the presence of an authorized person, without violating the schedule of his work. In the event that it is not possible to take actions to eliminate violations as soon as possible, then the bag is not accepted. Therefore, the collection of funds (in the store, for example) is carried out on a subsequent visit to the service organization. Of course, you must not forget to put the appropriate mark in the column "repeated arrivals" of the turnout list.
Reception bags at the bank
This procedure has some characteristic differences and is considered more complicated than receiving cash bills and other tangible assets by the collection service. To begin with, it is necessary to note the order of actions performed by the employee of the banking structure. He is obliged to check the conformity of the entries made in all the attached documents: invoice, security card or receipt, as well as carefully inspect the bag for damage (such as patches, tears in the fabric, external seams, lacerations or the appearance of knots there), to identify the defects of the seals and locks . After that, it is necessary to verify the numbers indicated on the bag and on the accompanying documents.
Violations at this stage
If a bank employee identifies inconsistencies in the accompanying papers, a note is made in the notes column of the audit journal, which is subsequently endorsed by both the receiving and the dealers. In the event that any signs of damage are found on the bag, it must be opened with a subsequent recount of the contents (piece or sheet). Identification of shortages or surpluses is recorded in the act of opening. The name and details of the organization, the date and reason for the autopsy, as well as the positions, last names and initials of the employees who performed the autopsy and were present at it, information about the premises where this procedure was carried out, are also entered there.
Cash Collection: Postings
Since the above procedure falls into the category of accounting, it is necessary to issue a cash expenditure order where account 57 “Transfers in transit” will be used. This is considered convenient both for organizations and for collectors themselves. Consider the following example. The organization needs to transfer the amount of 700 thousand. e. to the bank for subsequent crediting to a certain current account. The commission is 0.2% of the amount received.
Accounting for cash transfers to the bank| Operation | Postings | Amount ($) | A document base |
| Transfer from cash desk to the collection service | Set 50 D 57 | 700,000 | Cash Disbursement Order, Receipt |
| Crediting funds to a current account | Set 57 D 51 | 700,000 | Bank account statement |
| Bank commission (0.2%) | Set 51 Dr. 91.2 | 1400 | Bank account statement |
Thus, the collection of funds is graphically presented in the above table.