Work Scenario #6 – Cash

August 18, 2011 at 9:38 am | Posted in Business Ops, Work Scenerios | Leave a comment
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Disclaimer: So that some work scenarios make more sense, I’d like to describe the organization I worked with. A mobile mental health team served severe and persistent mentally ill people in a county in Maryland. Some descriptions may seem vague or cryptic; it is to preserve the identity of clients, organization, and co-workers. Some documents are redacted via pixilation. My specific duties will always remain intact.

As I mentioned in my check scenario nothing needs more attention to detail and protocol than handling money, this time the money involves internal spending, petty cash.  As in my last scenario, this responsibility was purely mine, therefore I could create what worked for both me and the organization under very little supervision.

Our petty cash was not just for office use, but also to be used as loans to our clients.I was responsible for the fund’s disbursements and subsequent replenishment once it reaches near-depletion.   In addition, I had a second ledger to keep track of loan repayments.

I quickly developed and implemented the following process:
When petty cash was paid out I there were two options for tracking:

  1. Create a receipt, included the company code for the reason the money was paid.  Since this was from a booklet, copies were created when written.
  2. Used a store or Internet receipt that was given to me. Copies of these were done on the office equipment.

Two to three times a month I made the reimbursement request.  The original receipts had to be presented to the Accounting department.  Information from those payouts were entered into a spreadsheet I decided that the most helpful data for validation would be, Internal code, payee, date, amount, and any notes needed for clarification.  Loans were designated in red.  These procedures had to be observed for fund disbursements, which include the documentation required for the approving authorities.

The spreadsheet was printed out and turned into the accounting department along with the receipts.
When ready, since I was the designated custodian responsible for disbursing the fund and safeguarding its physical security, petty cash checks were made out to me.  I cashed the check.  I never requested bills over twenty-dollars.  More often than not our payouts from petty cash were ten dollars or less.  Then the process started all over again.

When training temps and new administrative assists I would include my process and sent the spreadsheets to them to keep our petty cash protocols consistent.


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