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ACCOUNTING FOR CASH
Each store operator is responsible for the cash
collected from sales as long as it is in his or her
possession. Cash is usually collected at the close
of each business day by the ship’s store officer
or a designated collection agent. Two records are
maintained in which the cash collection is
recorded. In addition to these records, ROM users
will enter cash collections in the cash receipt
function daily, or as soon as practical.
Cash Receipt Book
The Cash Receipt Book, NAVSUP Form 470,
has already been mentioned often in this chapter.
The NAVSUP Form 470 shows receipt for all cash
and overring or refund vouchers, if any, turned
in to the ship’s store officer or cash collection
agent. This cash receipt book is kept in the
custody of each sales outlet operator. The
designated cash collection agent, when making the
daily collections from the sales outlets, must
receipt for all cash in the cash receipt book. (See
fig. 2-9.) When the cash collection agent is making
collections, the ship’s store officer will review the
cash receipt book daily, or at least twice a week,
and will initial entries. In addition, the ship’s store
officer will compare the amounts entered on the
ROM with the amounts entered in the NAVSUP
Form 470 once a week. Spaces are provided in
the cash receipt book for the date; the amount
of cash turned in (which is written out in words
and also entered in figures); and the signature of
the person collecting, as well as that of the sales
outlet operator. Whenever an error is made, draw
a line through the entire line and write the correct
information in the following space. Line-outs
must be initialed by the sales outlet operator and
the person making collections. No alterations are
allowed.
Whenever the store is closed for 72 hours or
more, record it in the cash receipt book. Record
Figure 2-9.—Cash Receipt Book, NAVSUP Form 470.
2-22
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