11.1 Cash float policy

11. FINANCE AND CASH HANDLING

Ensure all cash, cash transactions, and cash deposits are tracked, logged, and handled according to Bateel procedures

Scope:

Related Documents:

9.1 – 9.13; 11.1 – 11.12; Cash Handover Form

11.1 Cash float policy

Purpose: The cash float is a set amount of money that has been broken into various denominations. It is placed in the register at the beginning of trading hours so that the staff can provide change to the customers. At Bateel, the cash float for Boutiques varies in amount depending on the business requirements. The amount ranges from AED 1,000 to 3,000. The cash float amount should match with the affidavit. Responsibilities: 1. The Boutique Manager is responsible for receiving the initial float. The cash affidavit form needs to be signed by the Boutique Manager. The original needs to be returned to the Finance/Account Department and the copy needs to be filed in the Boutique.

2. The cashier who is handling the till is responsible for the accuracy of the float.

3. The float must be counted and recorded in the cash handover form:

 Before opening

 Cashier handover

 End of day (till closing)

4. The cash handover form needs to be signed by the cashier handling the till and the person in charge. 5. In case of annual leave, the Boutique Manager will hand over the float to the new appointed Manager/Person in Charge (handover form to be filled and signed). 6. In the event of relocation, the Accounts Department must provide a new affidavit under the new M anager’s name.

7. At the end of the day, the cash float needs to be counted and separated from the sales.

8. Cash float and daily sales must be kept in the safe.

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Additional/extra float: 1. If an additional float is required during special occasions/events, a written approval from the respective Area Manager needs to be obtained before the request can be sent to the Accounts Department. 2. The requested extra float amount needs to be returned or deposited after the event with prior information to the Accounts Department.

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