9. MANAGEMENT PROCEDURES
Ensure the proper procedures and tracking are followed for all cash floats and tills
Scope:
Related Documents:
Documents Below
9.1 Till float and cash register audit
Purpose: Till audit is a process where the auditor compares the sales records of the day with the amount of money in cash, cheques and credit receipts received. During the process, the auditor will look for discrepancies and report any that are found to the management.
Authorized auditors
Boutique Manager/in charge
Area Manager
Senior Operations Manager
Retail/LP auditor
Audit procedure:
1. Physically count the cash and record the denominations in the audit format.
2. Retrieve the reports from the POS and credit card terminals.
3. Reconcile the reports (POS report to credit card summary report).
4. Reconcile the counted cash with X report.
5. Verify the till handover format.
6. Verify via CCTV footage.
7. Record the discrepancies, if any, and gather explanations/comments from the cashier and manager/in charge.
8. Forward the report to retail management.
Documents/checklists for reference:
1. Cash audit format.
2. Petty cash affidavit.
3. X report, credit card terminal reports.
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4. CCTV records.
5. Till handover form.
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