Finance and Resources Office Role Pack UniPress: Accounts Officer (AO)

Transcription

1 Finance and Resources Office Role Pack UniPress: Accounts Officer Prepared by : Business Improvement Plan Project Team Process : Cash Receipting Last Updated : 28 July 2006

2 Business Improvement Plan Role Pack Cash Receipting TABLE OF CONTENTS TABLE OF CONTENTS INTRODUCTION Purpose of this Role Pack Desired Outcome University Finance Manuals on Cash Receipting CASH AND LOCAL CHEQUES AO s checklist The big picture: in flowchart format The big picture: a descriptive explanation of the flowchart process CREDIT CARDS AND EFTPOS AO s checklist The big picture: in flowchart format The big picture: a descriptive explanation of the flowchart process Page 2

3 1.0 INTRODUCTION Financial Services at The University of WA has recognised the need to document the key financial processes currently carried out at the devolved level across the University and to work towards bringing the University to a consistent level in terms of financial reporting. With this in mind the Business Improvement Plan project has been initiated to ensure the documentation of the key financial processes across the University as well as to successfully implement a University wide best practice model within a defined framework of quality, time and cost. 1.1 Purpose of this Role Pack Each Role Pack is written for a role within a specific division. This pack is to assist the Accounts Officer a) in his/her role (the checklist), and b) to provide an overview of the entire process (the big picture). 1.2 Desired Outcome The desired outcome of this Role Pack is to implement appropriate changes in order to rectify areas of concerns identified by Office of Auditor s General (OAG) in The areas of concern highlighted in the Auditor s report were: Frequency of cash counts and banking Lack of reconciliation between cash collections and banking documentation Evidence of banking deposited with Financial Services Segregation of duties within the cash receipting function Lack of approval requirements for processing void transactions Receipts not being issued when collecting cash Journals being processed without an appropriate review process 1.3 University Finance Manuals on Cash Receipting Location: Page 3

4 2.0 Cash and local cheques 2.1 AO s checklist Checklist Summarised description Detailed description Receive payment Accounts Officer receives cheques from mail. Complete triplicate sequential UWA Tax Invoice/Receipt Book AO gives all cheques received via mail to AA. AA completes the triplicate sequential UWA Tax Invoice/Receipt Book for cheques received via mail (as a lumpsum). At the end of the day, AA takes o cash and cheques o supporting documents o the triplicate sequential UWA Tax Invoice/Receipt Book to AO for processing. Record payment AO processes payment in Attache. Banking day reconciliation AO prints out Banking Summary Report from Attache. AO reconcile money received against: o Banking Summary Report from Attache. o The triplicate sequential UWA Tax Invoice/Receipt Book. Prepare Bank Reconciliation Summary Sheet for sign off AO prepares Bank Reconciliation Summary Sheet for supervisor to sign off. Bank Reconciliation Summary Sheet includes: o Breakdown of cash (notes & coins) o Total cheques. o Total credit card. o Summary of void transactions and cancelled receipts. o Column for Checked by/date. o Column for Prepared by/date o Column for receipt number provided by Financial Services/Bank. Take cash, cheques and credit card details to Westpac AO completes details on Westpac banking slip. AO takes money, Banking Summary Report Page 4

5 from Attache and Westpac banking slip to Westpac. Take pink slips and a copy of Bank Reconciliation Summary Sheet to Financial Services AO takes: o pink slips from the triplicate sequential UWA Tax Invoice/Receipt Book o a copy of signed and completed Bank Reconciliation Summary Sheet to Financial Services. AO gives pink slips to Cashier at Financial Services and copy of the Bank Reconciliation Summary Sheet to Samantha Chong from the Investment Department. (Samantha Chong is currently responsible for bank reconciliation). Page 5

6 2.2 The big picture: in flowchart format Refer flowchart next page for an understanding of the big picture of this process 2.3 The big picture: a descriptive explanation of the flowchart process Stage Description Responsibility Current Process Detail 1.0 Receive payments from customer over the counter/via mail/telephone Source of income: Sale of books. Customers include: Public and University staff, University Schools. 2.0 Receive payment (AA & AO) Administrative Assistant receives cash and cheque from customers at the counter. Accounts Officer receives cheques from mail. 3.0 Complete triplicate sequential UWA Tax Invoice/Receipt Book AA completes triplicate sequential UWA Tax Invoice/Receipt for all cash or cheques received at the counter. AO gives all cheques received via mail to AA. AA completes the triplicate sequential UWA Tax Invoice/Receipt Book for cheques received via mail (as a lumpsum). Cash, cheques receipts should be recorded separately from Credit Card receipts. 4.0 Issue receipt to customer If customer is at the counter, AA gives white copy (from the triplicate sequential UWA Tax Invoice/Receipt Book) to customer as a receipt. If payment is received via mail, the white copy can be mailed out to customer or stay in the book. 6.0 Pass to AO for processing AA takes o cash and cheques o supporting documents o the triplicate sequential UWA Tax Invoice/Receipt Book to AO for processing. Page 6

7 6.0 Record payment AO processes payment in Attache Banking day reconciliation AO prints out Banking Summary Report from Attache. AO reconcile money received against: o Banking Summary Report from Attache. o The triplicate sequential UWA Tax Invoice/Receipt Book. 9.0 Prepare Bank Reconciliation Summary Sheet for sign off AO prepares Bank Reconciliation Summary Sheet for supervisor to sign off. Bank Reconciliation Summary Sheet includes: o Breakdown of cash (notes & coins) o Total cheques. o Total credit card. o Summary of void transactions and cancelled receipts. o Column for Checked by/date. o Column for Prepared by/date o Column for receipt number provided by Financial Services/Bank Check and sign off Bank Reconciliation Summary Sheet Supervisor Supervisor checks and signs off Bank Reconciliation Summary Sheet Take cash, cheques and credit card details to Westpac AO completes details on Westpac banking slip. AO takes money, Banking Summary Report from Attache and Westpac banking slip to Westpac Take pink slips and a copy of Bank Reconciliation Summary Sheet to Financial Services AO takes: o pink slips from the triplicate sequential UWA Tax Invoice/Receipt Book o a copy of signed and completed Bank Reconciliation Summary Sheet to Financial Services. AO gives pink slips to Cashier at Financial Services and copy of the Bank Reconciliation Summary Sheet to Samantha Chong from the Investment Department. (Samantha Chong is currently responsible for bank reconciliation). Page 7

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9 3.0 Credit Cards and EFTPOS 3.1 AO s checklist Checklist Summarised description Detailed description Receive payment Accounts Officer receives credit card payments via mail. Complete triplicate sequential UWA Tax Invoice/Receipt Book AO gives all credit card details received via mail to AA. AA completes the triplicate sequential UWA Tax Invoice/Receipt Book for cheques received via mail (as a lumpsum). At the end of the day, AA takes o cash and cheques o supporting documents o the triplicate sequential UWA Tax Invoice/Receipt Book to AO for processing. Record payment AO processes payment in Attache. Banking day reconciliation AO prints out Banking Summary Report from Attache. AO reconcile money received against: o o Banking Summary Report from Attache. The triplicate sequential UWA Tax Invoice/Receipt Book. Prepare Bank Reconciliation Summary Sheet for sign off AO prepares Bank Reconciliation Summary Sheet for supervisor to sign off. Bank Reconciliation Summary Sheet includes o Breakdown of cash (notes & coins) o Total cheques. o Total credit card. o Summary of void transactions and cancelled receipts. o Column for Checked by/date. o Column for Prepared by/date o Column for receipt number provided by Financial Services/Bank. Take cash, cheques and credit card details to Westpac AO completes details on Westpac banking slip. AO takes money, Banking Summary Report Page 9

10 from Attache and Westpac banking slip to Westpac. Take pink slips and a copy of Bank Reconciliation Summary Sheet to Financial Services AO takes: o pink slips from the triplicate sequential UWA Tax Invoice/Receipt Book o a copy of signed and completed Bank Reconciliation Summary Sheet to Financial Services. AO gives pink slips to Cashier at Financial Services and copy of the Bank Reconciliation Summary Sheet to Samantha Chong from the Investment Department. (Samantha Chong is currently responsible for bank reconciliation). Page 10

11 3.2 The big picture: in flowchart format Refer flowchart next page for an understanding of the big picture of this process 3.3 The big picture: a descriptive explanation of the flowchart process Stage Description Responsibility Current Process Detail 1.0 Receive payments from customer over the counter/via mail/telephone Source of income: Sale of books. Customers include: Public and University staff, University Schools. 2.0 Receive payment (AA & AO) Administrative Assistant receives credit card payments from customers at the counter. Accounts Officer receives credit card details from mail. 3.0 Process credit card on merchant machine AA processes credit card on merchant machine. 4.0 Issue receipt to customer AA gives copy from the merchant slip to customer as a receipt. 5.0 Complete triplicate sequential UWA Tax Invoice/Receipt Book AO gives all credit card details received via mail to AA. AA completes triplicate sequential UWA Tax Invoice/Receipt Book for credit card payments received (as a lumpsum). Cash, cheques receipts should be recorded separately from Credit Card receipts. The white copy can be mailed out to customer or stay in the book. 6.0 Pass to AO for processing AA takes o cash and cheques o supporting documents o the triplicate sequential UWA Tax Invoice/Receipt Book to AO for processing. Page 11

12 7.0 Record payment AO processes payment in Attache Banking day reconciliation AO prints out Banking Summary Report from Attache. AO reconcile money received against: o o Banking Summary Report from Attache. The triplicate sequential UWA Tax Invoice/Receipt Book Prepare Bank Reconciliation Summary Sheet for sign off AO prepares Bank Reconciliation Summary Sheet for supervisor to sign off. Bank Reconciliation Summary Sheet includes o Breakdown of cash (notes & coins) o Total cheques. o Total credit card. o Summary of void transactions and cancelled receipts. o Column for Checked by/date. o o Column for Prepared by/date Column for receipt number provided by Financial Services/Bank Check and sign off Bank Reconciliation Summary Sheet Supervisor Supervisor checks and signs off Bank Reconciliation Summary Sheet Take cash, cheques and credit card details to Westpac AO completes details on Westpac banking slip. AO takes money, Banking Summary Report from Attache and Westpac banking slip to Westpac Take pink slips and a copy of Bank Reconciliation Summary Sheet to Financial Services AO takes: o pink slips from the triplicate sequential UWA Tax Invoice/Receipt Book o a copy of signed and completed Bank Reconciliation Summary Sheet to Financial Services. AO gives pink slips to Cashier at Financial Services and copy of the Bank Reconciliation Summary Sheet to Samantha Chong from the Investment Department. (Samantha Chong is currently responsible for bank reconciliation). Page 12

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