SUBSECTION 6.2.3.1 PROGRAMS FOR ALL FUNDS

6.2.3.1.1

Petty Cash

Effective Date:

July 1, 1991

6.2.3.1.1.a	Count all cash funds under one control simultaneously.
6.2.3.1.1.b	Reconcile and check vouchers.
6.2.3.1.1.c	Examine vouchers, signatures, amounts, and explanations.
6.2.3.1.1.d	Review accounting distributions.
6.2.3.1.1.e	Check addition of total column.
6.2.3.1.1.f	Check cross footings.
6.2.3.1.1.g	Check postings to ledgers.

6.2.3.1.2

Cash Receipts and Disbursements - Agency Checking Accounts

Effective Date:

July 1, 1991

6.2.3.1.2.a	Reconcile bank accounts with books.
6.2.3.1.2.b	Prepare and mail out bank confirmations.
6.2.3.1.2.c	Compare bank confirmations received to reconciliations.
6.2.3.1.2.d	Check vouchers charged to expense accounts.
6.2.3.1.2.e	Check cash sales record to total.
6.2.3.1.2.f	Check sequence of cash sales record.
6.2.3.1.2.g	Check discounts, allowances, and freights.
6.2.3.1.2.h	Check transfers to payroll and imprest bank accounts.
6.2.3.1.2.i	Trace bank balances to bank statement and confirmations.
6.2.3.1.2.j	Trace book balance to ledgers.
6.2.3.1.2.k	Confirm details of deposits in transit and check to credits on bank statements.
6.2.3.1.2.l	Check other reconciling items and final clearance.
6.2.3.1.2.m	Trace deposits from cash book to bank statements.
6.2.3.1.2.n	Foot cash receipts record and cross-foot totals.
6.2.3.1.2.o	Trace postings to the ledgers.
6.2.3.1.2.p	Test postings to customers' ledger cards.
6.2.3.1.2.q	Compare canceled checks to disbursement record.
6.2.3.1.2.r	Account for all check numbers.
6.2.3.1.2.s	Obtain or prepare list of outstanding checks at end of period.
	Prove list footings.
	Trace items not cleared from beginning bank reconciliation.
	Trace uncleared checks from cash disbursements records to bank reconciliation.
	Indicate on list any large or unusual checks.
6.2.3.1.2.t	Examine signatures and endorsements on a test basis.
6.2.3.1.2.u	Foot cash disbursement record and cross-foot totals.
6.2.3.1.2.v	Trace postings from cash disbursements record to ledgers.

6.2.3.1.3

Disbursements - General

Effective Date:

July 1, 1991

6.2.3.1.3.a	Check total purchases.
6.2.3.1.3.b	Check totals to ledgers.
6.2.3.1.3.c	Test extensions on invoices.
6.2.3.1.3.d	Check invoices, review name, date, approval, and distribution.
6.2.3.1.3.e	Compare with order and receiving record.
6.2.3.1.3.f	Review accounting distribution.
6.2.3.1.3.g	Check log of inventory returned for missing or out of sequence items.
6.2.3.1.3.h	Compare receipt of inventory to be returned to shipping record.
6.2.3.1.3.i	Compare inventory to be returned to original invoice.
6.2.3.1.3.j	Check total returns to ledgers.
6.2.3.1.3.k	Check for approval.
6.2.3.1.3.l	Check substantiating data.
6.2.3.1.3.m	Check postings to ledgers.
6.2.3.1.3.n	Check additions to all columns.

6.2.3.1.4

Investments and Securities

Effective Date:

July 1, 1991

6.2.3.1.4.a	Prepare schedule giving full details.
6.2.3.1.4.b	Count securities and check to schedule.
6.2.3.1.4.c	List important papers in vault or safe.
6.2.3.1.4.d	Accrue interest.
6.2.3.1.4.e	Account for dividends and interest.
6.2.3.1.4.f	Account for other income and accruals.
6.2.3.1.4.g	Check schedules to ledgers.

6.2.3.1.5

Receivables

Effective Date:

July 1, 1991

6.2.3.1.5.a	Obtain trial balance taken at audit date.
6.2.3.1.5.b	Check trial balance to respective ledgers.
6.2.3.1.5.c	Prepare and mail confirmations.
6.2.3.1.5.d	Reconcile confirmations received.
6.2.3.1.5.e	Age accounts and prepare list of uncollectibles.
6.2.3.1.5.f	Foot trial balance.
6.2.3.1.5.g	Test footings of individual accounts.
6.2.3.1.5.h	Test credits to cash receipts record.
6.2.3.1.5.i	List unusually large accounts.
6.2.3.1.5.j	Review subsequent collections.

6.2.3.1.6

Payables

Effective Date:

July 1, 1991

6.2.3.1.6.a	Obtain trial balance taken at audit date.
6.2.3.1.6.b	Check balances to respective creditors' accounts.
6.2.3.1.6.c	Prepare and mail confirmations.
6.2.3.1.6.d	Check confirmations received and follow-up on any differences.
6.2.3.1.6.e	Check total to ledgers.
6.2.3.1.6.f	Foot trial balance.
6.2.3.1.6.g	Test footings of individual creditors' accounts.
6.2.3.1.6.h	Test debits to cash disbursement record.
6.2.3.1.6.i	Test credits to voucher register or purchase record.
6.2.3.1.6.j	List past due accounts.
6.2.3.1.6.k	Schedule debit balances.
6.2.3.1.6.l	Check receiving record for inventory cutoff.