RECEIPTING ACTIVITIES Page 2
j. Are responsibilities for receipting activities segregated from those involved in disbursing activities?
k. Are non-sufficient funds checks delivered to an individual independent of those processing and recording collections?
l. Are responsibilities for processing credit card payments segregated from those involved in processing voided credit card
m. Are responsibilities for processing credits or refunds segregated from those involved in the payment processing function?
n. Are responsibilities for reconciling credit card payments segregated from those processing payments, voids, credits and
o. Are reviews made of deposit slips by someone outside the receipting process to verify all deposit slips are accounted for?
2) Are collections received by mail?
a. Is the mail opened by two people?
b. Are all remittances collected by mail documented on a list of receipts at the time the mail is opened? If yes, is the list prepared
by an individual other than those opening the mail? If remittances collected by mail are documented on a list of receipts, are
copies of the listing forwarded, along with the money, to the cashier or depositor?
c. Does an individual who does not open the mail and is not the cashier or depositor compare the list with the deposit?
d. When opening mail, are checks endorsed or stamped “For Deposit Only”?
e. Are other copies attached to collections received through the mail as supporting documentation to the accounting transaction?
If yes, are these documents enclosed with the currency, are the documents machine date stamped or dated and initialed by the
individual opening the mail?
3) Are deposits of all receipts made according to state statute?
4) Are receipts issued timely for electronic deposits? What procedures are in place for identifying and issuing receipts for electronic
5) Are there established procedures for follow-up of non-sufficient funds checks?
6) Are pre-numbered duplicate receipts issued for all money collected?
7) Are duplicate receipts retained?
8) Is an approved or prescribed receipt form used? If no, are other receipt books used in place of an approved or prescribed receipt?
9) Are receipts issued at the time of collection?
10) If you are using any software to issue receipts, is there a backup system for issuing receipts when the system is down and not
11) Do voided receipts require review and authorization by management?
12) Are voided receipts with supporting documentation retained?
13) Are separate cash drawers used for each individual collecting money? If yes, is access limited to the individual responsible and
assigned to that cash drawer?
14) Are collections stored in a secure location?
15) Are collections reconciled to receipts issued (or other cash reports) by someone other than the individual collecting the money? If
no, are these reconciliations reviewed and approved by management? If yes, is this review documented as evidenced by initials, tick
marks, etc. indicating procedures performed?
16) Are collections accounted for and balanced to receipts issued or other collection records daily?
17) Is monitoring performed on all cash longs and shorts?
18) Are collections promptly and accurately recorded in the records?
19) Are collections deposited in the form originally received? Do receipts indicate the type of payment received (cash, check, etc)
and is this reconciled to the make-up of the bank deposit (cash, check, etc)?
20) Are delay of deposits avoided by making sure fund distribution are immediately determinable?
21) Are there comparisons of deposit amounts and dates with cash receipt postings?
22) Are adjustments to customer accounts properly documented and reviewed by an individual independent of the billing and
accounts receivable processes?
23) Are receivable amounts aged monthly? If yes, is the aging of monthly receivables reviewed by an authorized individual?
24) Does the governing board approve bad debt write offs?
25) Are procedures provided for executing all possible legal remedies to collect charged-off or non-collectable accounts?
26) Do accounts receivable record-keeping procedures include reconciling the aggregate collections and balance of the accounts
receivable control against postings to individual accounts receivable accounts?
27) Are periodic reviews made of receivable accounts with credit balances?
28) Are overpayments subsequently refunded and underpayments collected?