Things to be checked during Verification of Cash

Person verifying the cash and person handling cash should ofcourse be different.

Person verifying should consider following points

1. Cash verification should be done at regular interval s.
2. There should not be any fixed date for cash verification . It should be checked randomly.
3. While verifying cash it should be observed that cashier is withdrawing money from the company’s safe, and not from his pocket.
4. “i owe you” forms should be kept in safe custody.

5. Balance of cash a/c as per Tally    Less:  I owe you form =Actual cash balance