Protecting the cash assets of the hotel is crucial and internal controls procedures must be strong enough to provide a written audit trail to protect the cashier. All deposits: cash, checks and voucher deposits are to be completely logged onto the Daily Deposit Drop Log.
Each cashier is responsible for securing a witness to perform a drop of their cash, checks and vouchers into the hotel’s drop safe immediately after their work shift. The purpose of this witness is to verify that the deposit has fallen safely into the drop safe. The Controller and Head Cashier are both responsible for properly retrieving daily deposits that are dropped by cashiers.
We will discuss the cashiers’ procedures that should be occurring in your hotel in this article. These procedures must be implemented once the cashiers have closed off and balanced their cash for their shift.
- The cashier counts their house bank funds and separates the funds that they are going to deposit or “drop” at the end of their shift.
- The cashier is responsible for preparing a Cashier’s Report envelope listing the contents of the envelope and the breakdown of the different types of funds, currencies, etc. as well as the total amount of funds to be dropped.
- Before the drop can be made, the cashier must secure a witness to witness the drop of the envelope. This protects the cashier and ensures that the drop is done safely.
- In the presence of the witness, the cashier is to list their name, department, time that their deposit is being made and the amount of their deposit on the “Daily Deposit Drop Log”.
- Any amounts “due back” to the cashier should be listed on the Daily Deposit Drop Log. The cashier then places the deposit envelope in the drop safe and obtains the witness signature on the “Daily Deposit Drop Log”. Note that deposits made without the witness’ signature is subject to disciplinary action.
- A “Daily Deposit Drop Log” must be kept at the drop safe at all times. If one is not present, a supervisor must secure one.
- Cashiers should never drop their deposit simultaneously with other individuals making a deposit. This has the potential to cause confusion during the drop process.
- The last cashier or the night auditor who is dropping their cash for the day must drop the Daily Deposit Drop Log into the drop safe for later retrieval by the General Cashier.
These controls are simple but one step missed can lead to expensive consequences.
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