Note: This article is for the benefit of New South Wales schools only.
Hero understands that managing receipts, particularly cash, requires extensive security and accuracy. The banking feature brings together reconciliation, deposit slips, verification checks and daily summaries of funds received.
The banking feature encompasses 4 processes -
- Till Setup - Define the tills used to receive cash, cheques and money orders. These may be in the canteen, library, school office or events centre.
- Till Session Closure - When till takings are ready for banking, close and reconcile the till contents.
- Generating a Deposit Slip - Bring all closed tills together to prepare the deposit slip to take with the banking. Deposit slips need to be verified by an independent user.
- Generating a Daily Summary - Verified by the school Principal or Principal's delegate this is a daily summary of receipts (banked, unbanked or external to the banking process).
GENERATING A DAILY SUMMARY
The Daily Summary is a daily audit of all financial activity. It can be generated by any staff member with administration access but must be verified by a Principal or Principal's delegate. The summary brings together all closed till sessions (banked or unbanked) and any online transactions received since it was last generated.
It also reports on any discrepancies, refunds, cancellations or changes that require verification by the Principal or Principal's delegate.
1. Navigate to BANKING > DAILY SUMMARIES. Here you will see a list of all Signed and Unsigned Daily Summaries. Unsigned denotes that the summary has not yet been approved by the Principal or Principal's delegate.
2. Click GENERATE DAILY SUMMARY.
3. Warnings will be provided if -
- any till sessions have been closed but not yet banked,
- receipts exceeding $500 and have not yet been banked or
- unbanked takings exist from a week or more ago.
The user is able to CANCEL or continue at this point.
4. The Daily Summary will be produced. Receipts from all sources will be displayed in the appropriate columns. If tills have been closed but a deposit slip has not yet been created, these takings will be displayed under in the table designated for Unbanked takings.
5. If the user generating the Daily Summary is not the Principal or Principal's delegate, click CLOSE to exit the report.
6. If the user generating or viewing the Daily Summary is the Principal or Principal's delegate, they must approve any Discrepancies, Line Item Value Changes, Cancellations or Refunds.
7. Click VIEW REPORTS to view and approve the associated lists.
Reports listed:
- Bank Deposit Discrepancy Management - displays any discrepancies recorded in the banking process
- Cancelled & Adjusted Fees - displays a list of any Voids, Partial Voids, Discounts or Write Offs
- Cancelled Receipts & Refunds - displays a list of any Cancellations or Refunds actioned
8. Each of these lists require certification in order to sign off the Daily Summary.
8. Once all of the above have been certified, the Principal must then acknowledge acceptance of these discrepancies and click SAVE.
8. Once done, the Daily Summary can be approved and saved.
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