Click Here to
Order this information in Print

Click Here to
Order this information on CD-ROM

Click Here to
Download this information in PDF Format


Click here to make your Home Page

Page Title: Retail Store Change Fund
Back | Up | Next

Click here for a printable version




Information Categories
.... Administration
Food and Cooking
Nuclear Fundamentals
  Educational CD-ROM's
Printed Manuals
Downloadable Books



RETAIL  STORE  CHANGE  FUND At  the  beginning  of  each  accounting  period or when the retail store is reopened after being closed  for  72  hours  or  more,  the  cash  collection agent entrusts funds to the ship’s store operator as a change fund. Change funds for the retail store are  determined  by  the  commanding  officer  in written  instructions  to  the  ship’s  store  officer.  The instructions  will  include  the  amount  of  change fund you can advance to the retail store operator which  is  normally  $50.  You  will  obtain  a  cash receipt  from  the  ship’s  store  operator  for  the amount advanced. The amount advanced will not be registered on the cash register; it will be kept in excess of cash received from sales. At the close of the business day, the retail store operator will return the amount advanced when you take the register reading, at which time the cash receipt will be  destroyed.  If  the  cash  sales  in  the  store  are  not sufficient  to  cover  the  advanced  change  fund,  plus the  change  fund  for  the  next  day,  the  cash collection  agent  may  leave  an  amount  not  to exceed   $50   in   the   cash   register   overnight.   If required,  $100  may  be  authorized  by  the  type commander   to   remain   in   the   cash   register overnight. No cash will be left in the register when more than one shift is operated in the retail store. All  cash  including  change  funds  must  be  collected at  the  end  of  each  shift. During  paydays  and  other  times  when  the volume of business maybe busy, a larger change fund  may  be  required.  The  additional  amount  you may  entrust  to  the  retail  store  operator  for  a change fund will be stipulated in instructions to the  ship’s  store  officer  by  the  commanding  officer. VENDING  MACHINE  CHANGE  FUNDS At  the  beginning  of  each  accounting  period, after  monthly  inventory  (can  or  cup-type  soda), or before making repairs to the coin mechanisms or  the  machine,  all  cash  must  be  collected  from all  vending  machines.  As  cash  collection  agent, you  need  to  entrust  a  small  change  fund  to  the vending machine operator to allow customers to receive  change  after  their  purchase.  Normally  the change fund for a vending machine is about $5. Although  the  money  is  placed  in  the  coin mechanism,   the   vending   machine   operator acknowledges  receipt  for  the  money  on  a  cash receipt  certificate.  A  separate  receipt  should  be made  for  each  vending  machine.  At  the  time  of the  next  collection,  the  change  fund  is  returned and the cash receipt certificate is destroyed. A new change  fund  from  cash  sales  received  is  left  in  the coin  mechanism.  To  make  collections  easier  the same  amount  should  be  left  daily. CHANGE  FUND  SHORTAGES Upon   written   authorization   of   the   com- manding officer, the custodian of the money may voluntarily  commit  personal  funds  to  cover  the shortage.   In   any   case,   the   shortage   must   be handled  before  deposit  with  the  disbursing  officer. Shortages in the change fund will not affect the   accountability   of   the   ship’s   store   officer, disbursing  officer,  or  cash  collection  agent.  A deficit in the change fund advanced to sales outlets will  be  taken  out  of  proceeds  from  sales  as outlined   in   the   NAVCOMPT     Manual,     par. 042451.6,   before   deposit   with   the   disbursing officer. A  notation  will  be  made  on  the  NAVSUP Form  469  and  the  NAVSUP  Form  470  of  the dollar amount the change fund was reimbursed. When appropriate, an entry will be made on the Ship’s   Store   Afloat   Financial   Control   Record, NAVSUP Form 235, to adjust the accountability of  the  responsible  custodian.  ROM  does  not permit  this  expenditure  entry  to  adjust  the accountability  y  of  a  particular  outlet.  In  this  case a pen-and-ink change will be made to the dollar differences  on  the  back  of  the  NAVCOMPT Form  153  to  adjust  the  accountability  of  the responsible custodian. The dollar amount of the reimbursement  is  not  included  on  the  monthly Memorandum  Cash  Sales  Invoice,  DD  Form 1149, deposit of cash with the disbursing officer. If the change fund deficit is less than $250 and the  deficit  is  immediately  liquidated,  it  can  be handled  as  described  above  without  an  official report to the Navy Resale and Services Support Office. If theft, fraud, or any other dishonest act has  been  committed,  or  the  loss  is  in  excess  of $250, a report of the incident must be forwarded to  the  commanding  officer  according  to  Navy Regulations,  article  1140. CASH  COLLECTION  PROCEDURES All cash received from sales in the sales outlets must  be  collected  at  the  end  of  each  business  day. The   cash   register   reading   is   taken,   and   the difference   between   the   current   day’s   register reading  and  the  previous  day’s  register  reading minus  cash  left  in  the  register  for  change  must equal the cash received. If it does not balance then 3-6

Privacy Statement - Press Release - Copyright Information. - Contact Us - Support Integrated Publishing

Integrated Publishing, Inc. - A (SDVOSB) Service Disabled Veteran Owned Small Business