Richoux

Associates,

Inc.

Operations Documentation

Date

/ 10September 2009
System / FINCO
Document No. / FIN-0025How To DetermineCash Drawer Overage/Shortage On Daily Report
Operation / To find cash overage/shortage on daily report
Long Description / While doing a daily report the cash drawer may be out of balance.The cashier must balance the daily report to the cash drawer.
Follow scenario 1 if the cash over/short amount is short.
Follow scenario 2 if the cash over/short amount is over.

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Operation Steps / Scenario 1: If the cash over/short amount is short.
1.Compare each check to the payment in the payment section of the printed daily report to confirmit was posted for the correct account.
2.Determine that paid out accounts refinanced are coded as RE and not CA, CH or MO in the payment section of the daily report. If this is the error,reverse the amount of payment as CA, CH or MO and repost the payoff as a refinance REcode.
3.Determine if all non – payment postings are listed asOMR (other money recv’d) for the correct amount and it is part of the deposit amount.If this is the error, reverse the OMRposting.
4.Determine if there was an OMR cash.Confirmthat if a loan was voided, accept cash was not mistakenly pressed when the check should have been voided. If this is the error, reverse the OMR and void the check.
5.Recount the money and re-add the checks. Call the manager if the cash drawer is still short.
Scenario 2: If the cash over/short amount is over.
1.Compare each check to the payment in the payment section of the daily report to confirm it was posted for the correct account.
2.Determine if there are any negative payments. Ensure that if posting an NSF check that there is a negative sign in front of payment and the payment method isNSF. If CA,CH, or MOis the payment method then this will cause an overage.If this is the error, do a positive payment using the method of payment chosenthen do a negative payment using NSF.
3.If there was money that was overpaid or if other money was received and wasn’t posted to a ledger card, then make sure an OMRwas done for that amount.
4.Verify that if an account was paid out with CA, CH or MO that it wasn’t mistakenly posted as refinance. If this is the error, go to paid out account and reverse the payoff amount thenpressRE. Repost the payoff with the correct method of payment.
5.Recount the money and re-add the checks. Call the manager if the cash drawer is still over.

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