SOP For Cash Drop Safe Procedure

SOP Number: Finance and Accounting - 03

Department: Cash Control  

Date Issued: 18-Jun-2021

Time to Train: 30 Minutes

Purpose of this Cash Drop Safe Procedure:

The purpose of this policy is to protect the cash assets of the hotel and to provide a written audit trail to protect the cashier. All cash, check and voucher deposits are to be completely logged onto the Daily Deposit Drop Log.

Each individual cashier is responsible to secure a witness and perform a drop of their cash, checks and vouchers into the hotel’s drop safe immediately following their work shift, and verifying that the deposit has fallen safely into the drop safe. The Controller and General Cashier are responsible for properly retrieving daily deposits that are dropped by cashiers.

Cash Drop Safe Procedure SOP Procedure:

Individual Cashier's Procedures:

1) Once a cashier has counted their house bank funds and separated those funds from the cash and checks that they are going to deposit (drop) at the end of their shift, they are responsible to prepare a Cashier’s Report envelope listing the contents and the total amount of funds to be dropped.

2) The cashier is to secure a witness before the drop can be made.

3) In the presence of the witness, the cashier is to list their name, outlet (department), time and amount of their deposit on the “Daily Deposit Drop Log” inside the cash drop envelope

4) Amounts “due back” to the cashier should be listed on the Daily Deposit Drop Log in (parentheses). The cashier then places the deposit envelope in the drop safe, and obtains the witness signature on the “Daily Deposit Drop Log”. Deposits made without a witness signature subject the cashier to disciplinary action.

5) A “Daily Deposit Drop Log” must be kept at the drop safe at all times. If one is not present, a supervisor must secure one.

6) Cashiers should never drop their deposit simultaneously with other individuals making a deposit. This has the potential to cause confusion during the drop process.

7) The last cashier dropping their cash for the day, (usually the night desk clerk/auditor), is requested to drop the Daily Deposit Drop Log into the drop safe for later retrieval by the General Cashier.

Daily Drop Safe Retrieval Process:

1) In some case there is dual access to the drop safe requirements, and other administrative requirements.

2) The drop safe must be opened and the contents documented by two people at all times. Never should either party to the “safe pull” be distracted or leave the area.

3) Once the contents are pulled from the drop safe, one person counts the envelopes for the day, while the other person counts the number of witnessed drops that appear on the Daily Deposit Drop Log. If the two counts do not match, the envelopes must be verified against the Drop Log to determine if a drop is missing.

4) If a drop is missing, an Executive Committee member must be contacted before leaving the room, and the EC person must verify that the drop is missing. If the count of envelopes matches the count on the Drop Log, then the number of envelopes retrieved is documented on the drop log, and the two people retrieving the envelopes must each sign the Drop Log.

5) The two must lock the drop safe, and walk together back to the General Cashier’s office for security purposes.

Training Summary Questions:

Q1. What is the purpose of the Cash Drop Safe Procedure SOP?

Q2. Do you require a witness during the drop process?

Q3. What all details need to be updated on the Cash Drop Envelope?

Q4. Explain the Daily Drop Safe Retrieval Process?