Receive cash (non-donations)

Petty Cash Overview

Note: Throughout this process 'Cash' refers to coins, bank notes and cheques – unless specifically indicated otherwise.

The types of cash covered here are:

  • Sales through shop tills
  • Non-till/miscellaneous sales e.g. library fines, photocopying fees etc.

Refer to Receive Donations for the specific details on donations.

1. Issue receipt

It is important where possible to issue a receipt in the form of a numbered receipt from a duplicate receipt book, till receipt or similar.

2. Record receipt

A record of all cash received should be maintained, in electronic or paper format, together with any duplicate receipts/counterfoils. The Daily Cash Received Log (12kb) template should be used to support the banking and cash reconciliation process.  If it is necessary to transfer the cash to another staff member for storage and subsequent banking, this should be recorded on the form. Both parties must sign to acknowledge handover, in order to create an audit trail and the form should be retained for inspection by internal audit.

3. Store cash securely

All cash within a department must be stored securely in an appropriate area. For insurance purposes, amounts over £500 must be kept in a safe. All cheques should be stamped/marked with your department details on the reverse.

4. Cash reconciliation

Cash held should be regularly checked against the receipt record. The frequency of this depends on the volume of cash received per day/week/month.

Any issues with reconciliation must be alerted to your line manager and followed up as required.

5. Prepare for banking

  • Count and then bag cash for banking in the appropriate sack, observing the limit for cash in one single bag.
  • Complete the  Deposit form for Banking (27kb) (carbon copy sets of this form are available from the Cashiers' Office, this PDF version is for information only) retaining the green copy for your own files. Put the blue and white copies with the cash to be banked. For help with completing the form refer to the Completing the Deposit Form for Banking (198kb).
  • The Carrier's sealed bag should then be stored securely awaiting collection.

Ideally the counting should be carried out under dual control. It is also important that holiday cover arrangements are in place for the counting and banking preparation, i.e. cash should not be allowed to accumulate due to an individual being absent.

Note: The procedure for banking foreign currency is the same as for £sterling. For information on exchange rates (if required) contact the Cashiers' Office.