Policy on Receiving and depositing money

Receiving and depositing money: Breaks up bookkeeping and check signing duties to maintain financial integrity
List of Policies - Policy Development

The jobs of receiving money for Free Geek, recording it in the books (or accounting software), and depositing that money should be split between at least two separate people. Under normal circumstances:

• The C7 committee designates who on staff can receive money and who can do the books.
• The CT committee recommends to the board who can deposit the money.
• C7 should design appropriate procedures for tracking money that comes in.
• The person receiving the money (receiver) is responsible for following procedure, recording the amount and other information, and putting the money in a secure location.
• The person doing the books (bookkeeper) is responsible for following procedure and correctly entering the transactions in the books (or accounting software).
• The person depositing the money is responsible for getting the money safely to the bank and reporting the deposit information to the bookkeeper.

It is likely that the receiver and the bookkeeper will be the same person. If a check comes in the mail it should be given to a receiver. Front Desk and Thrift Store staff must be able to be receivers.