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Cash Management: Safe in safe out register- safe limit, counter limit and transit limit with insurance-

cash remittance- notes-vault remittance key register including duplicate keys

Sk. Nazibul Islam Faculty Member, BIBM

Cash in hand:

The balance of cash account represents the amount of cash held by the branch of any given time and date. The operations of this account relate to actual receipts and payment of cash. The cash account is debited with the amount of cash received and credited with the amount of cash paid. The branches usually send a statement for the cash held by them as and when required by the authority.

Cash receipt and Payment

The branch cash officer/Teller will receive or pay cash only on the authority of a debit or a credit voucher presented to him duly signed by two authorized officers where necessary. Unless such a voucher is made and presented the cash officer/teller can not make any payment or accept cash for any purpose.

Debit cash voucher:

Since debit cash vouchers are used also as receipts of money, these are to be kept under proper control. Blank voucher books are to be kept under personal custody of the authorized officer. Debit cash vouchers should not only contain full name, address, the nature of deposit and amount of deposit, loan ledger folio etc. of the depositor/customer but it should also invariably contain signatures of the depositors. The debit cash voucher will be posted first by the cash officer/Teller in the cash transaction register and thereafter-2nd officer/officer in the cash scroll.

Credit cash voucher:

This voucher will be used when cash is to be paid out. When a sum of money is paid by the branch the signature of the payee will be obtained. Where necessary the payees signature will be obtained on required revenue stamp. The credit voucher is to be posted first in the cash scroll by the 2nd officer/officer before it is passed on to the cash officer/Teller for payment.

Transfer voucher:

To account for a single transfer transaction, the transfer voucher should be passed. The space in the left hand side of the voucher is used to indicate the account which is to be debited and the space in the right hand side the account which is to be credited. The particulars of the transaction being the same, is recorded in the body of the voucher. All vouchers are signed jointly by two authorized signatories.

Filing of voucher: Cash vouchers, after they have been passed and forwarded to the cash officer/teller for payment or receipt will be kept in his custody till such time as cash has been balanced. After closure of the cash the vouchers are handed over to the officer responsible for posting in the clean cash book.

Cash records: For recording cash operations the following books are to be maintained in the branches: 1. Cash scroll 2. Daily cash transaction register 3. Cash safe register

Cash scroll:
The cash scroll will contain a record of all cash transactions of the branch and the balance shown in this book at any particular time or date will represent the total cash holdings of the branch. The cash scroll will be kept by the second officer and no credit cash voucher will be passed on to the cash officer unless it has been posted in this book and scroll number is given, specially in case of deposit. Debit cash voucher will be posted in the cash scroll after the cash officer has posted them in daily cash transaction register.

Daily cash transaction register:

Daily cash transaction register will contain a record of all receipts and payments made by the cash officer during the day. This book will contain entries for (a) cash received from and paid to customers as well as for (b) cash deposited in and taken out from the safe. No cash voucher is to be made for deposits in and withdrawals of cash from the cash safe. All cash vouchers dealt with by the cash officer will be kept in his custody till such time as cash has been balanced. At the end of days business, after cash has been balanced, the holdings of cash officer will be transferred to the cash safe.

Vault maintenance:
Cash safe register: the cash safe register is a record indicating the contents of cash in the safe/vault. All deposits and the withdrawals from the cash safe should be recorded in this register denomination wise under the signature of the manager and the cash officer. The balance of this register at the close of the days business will represent the total cash holding of the branch. The balances of prize bonds, sanchaya Patras and other cash items must agree with the respective balances and the related registers of the different cash item stock issue register.

Cash safe operating officials: The officials operating the cash safe, Namely, the manager and Cash officer will sign in full in the cash safe register as an evidence of the fact that cash at the close of the days business has been physically counted and verified by the operating officials.

Custody of safe Register: Cash safe register should be kept in a steel almirah under lock and keys in the personal custody of the manager, the keys of which must be at all time remain exclusively with the manager.

Procedure of cash handling: The brief procedure for cash in and out from the safe / vault will be: Recording of denominations of the cash (Notes & coins) received and paid through individual debit cash & credit cash vouchers of the branches on the back side of the respective voucher. Physical movement of cash / cash items to and from cash safe / night safe must be done jointly by the manager and the cash officer.

While operating the cash safe / night safe the manager and the cash officer will use their respective keys separately. Under no circumstances either the cash officer or the manager shall operate both the keys singly. No person other than the authorized holders of keys of the cash safe / night safe shall handle the keys.

Cash safe:
Each branch is provided with a safe having double locking system. There may be at any time more than one safe in a branch, depending on the requirements and the size of business in the branch. In branches where there is a strong room, the cash safe(s) will always be kept inside the strong room. The keys of the strong room will be held by the manager and the 2nd officer.

Keys of safes: The keys of the cash safe will be retained by the manager and the cash officer. In the absence of the manager from the Head Quarters, the officer next in the rank to the manager or senior most authorized officer stationed in the HQ will hold the managers keys after making necessary entries in the key register.

In no case, one person be authorized to keep keys of both the locks of the safe or of the strong room. The authorized persons responsible for operating the safe will attend personally, wherever the safe is to be opened. The keys will remain at all the times in the personal custody of the officials concerned. On no account will keys be delivered or passed-on to any one else.

Duplicate keys of safe: The duplicate keys of the safe and the strong room are to be deposited for safe custody with the local branch of the authorized bank. These keys should not be withdrawn from the Bank without permission from the competent authority and on a request made jointly by the manager and the cash officer.

In the event of a key of any one of the safes of the branch is lost, the duplicate key may be obtained from the authorized bank branch with the permission of the competent authority and the safe is to be opened. The concerned authority should give necessary instructions to the branch about the replacement of the lock or providing a new safe or otherwise.

Cash shortages: If there is any shortage in cash at the close of the day, the cash officer/teller will be called upon to meet the shortage on the spot. If he is unable to do so, the shortage will be met from the cash security deposited by him if available. This may be done by debiting employees security deposit Account and crediting cash in hand Account by a credit voucher. The manager may allow upto a maximum of three working days within which period the cash officer/teller must replenish the shortage thus caused in his cash security.

When the amount of shortage exceeds a sum set by the authority or the cash officer / teller is unable to meet the shortage within the prescribed time the matter is to be reported to the next higher authority forthwith stating full details along with a statement as per the specimen of the bank. When there is cash shortage, mentioned be made in the cash scroll and the daily cash transactions register under the signatures of the manager and the 2nd officer.

Cash excess:
When there is any excess in cash, it will be credited to the relevant sub-account under Accounts Payable Account and debited to Cash in hand Account. This will enable the branch to have its cash balanced. If the excess is claimed by any person and the amount involved does not exceed a sum set by the authority manager is authorized to dispose of the amount under his discretionary power, provided, he is fully convinced that the claim made is genuine. In case of exceeding the limit and there is a claim, the manager should refer the matter to the next higher authority for an order.

A statement in respect of all cash excess found will be furnished in the prescribed form to the next higher authority. The unclaimed amount in respect of each excess will be allowed to remain outstanding for a period over three months in the appropriate sub-account under Accounts Payable Account and credited to income/Sundry income at the time of annual closing of accounts.

Balancing of cash:
At the close of the days business, the 2nd officer , will balance the cash scroll maintained by him and when he has done this , he will call the cash officer to bring his daily cash transactions register for balancing. As soon as he has done this, a physical check of cash by counting will be made by the cash officer and the manager in order to find out whether the balance of cash held at the close of the day agrees with the balance shown in the cash scroll and the daily cash transaction register. The manager will sign both the registers in token of his having checked and found correct balance of cash agrees with the balance shown in the daily cash transaction register and the cash scroll, the same will be kept in the cash safe.

Mutilated notes:

Mutilated notes received from the public should not be kept in the vault for unreasonable time. As per instruction of Bangladesh bank the concerned branch should deposit the mutilated notes directly to the Bangladesh bank or through their local office. During the period of examining the mutilated notes as per instruction of B.B, the concerned branch/local office representative will remain present.

Thank You