post dated check internal control

Distinct RF bank accounts may be established for specific projects or programs with the approval of the RF Operations Manager. Access to cash and checks must be restricted to individuals with authorized fiscal responsibility. Maintain written procedures documenting the cash and check handling process. All units collecting cash should ensure proper controls are in place to safeguard collections until deposit. From the perspective of the check issuer, there should be no journal entry to record the reduction in cash until the date listed on the check. Is there a written prohibition against drawing checks payable to cash? Segregation of Duties The means by which no one person has sole control over the lifespan of a transaction.

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