Substantial Procedures Vouching of Cash Transaction

Internal Check in terms of Cash Receipts

If there is no well organized internal check system then there is a lot of chances to misappropriation of cash.so the follwing system in terms of cash receipts is suggested

1.when cash is received it should be acknowledged through printed receipt which should have counterfoil or carbon copy.
2.when cash is received it should entered in rough cash book or diary ASAP.

3.Automatic tails or cash register is very useful in terms of checking receipts.
4.All the receipts of the day must be deposited to the bank at the end of the bank or on the following morning
5.Cashier should frequently prepare Bank reconciliation statement.

6.pretty cash should be organized through Imp-rest system  
7.before a cheque is issued it should be presented along with the account of payee to a responsible officer.
8.Casting of cash  book should fairly checked.
9.Internal control over the wages sheet should be exercised.
10.All payment is as far as possible but Pretty cash should be made by cheques. 

11.Director  should  sanction payment of special nature cashier should not do so.