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DISBO MOD 2 Lesson 6: Check Cashing/Deposit Procedures - Coggle Diagram
DISBO MOD 2 Lesson 6: Check Cashing/Deposit Procedures
Deposit of Public Funds
DO’s holding negotiable instruments in excess of amount authorized to be held at personal risk, whichever is less must make deposit to the Department of Treasury for credit to “Treasury of the U.S.”
Authorized Depositories
FRB
General Depositories – Commercial banks or other financial institutions designated by Department of Treasury
Check Cashing Services vol 5 chp 4
(DoD) policy says services shall be offered only when satisfactory banking facilities are not available
DO has right to deny check cashing privileges to anyone due to non-availability of cash or personnel resources
Dishonored Checks from External Activities
Accountability for dishonored checks 040401
Later returned as Debit Voucher
a reduction of reimbursements (4.1E)
Return check to Ship’s Store (or Sales Officer) and have them give you cash for check
Sales Officer will then contact person for money
DO accepts check from external activities
Deposit Records
Photocopy
Scanned
Internal Controls
040204
Pay to the order of the Disbursing Officer (name of ship, station, or unit)”
DO should maintain a photocopy of the negotiated check
Limitations
040302
Afloat Deposit Requirements
110803
Receipts of $5,000 or more must be deposited the same business day
deposits must be made by Thursday of each week
deposit
last regular business day before leaving port and
on t
he first regular business day after returning to port
Accounting For Debit Vouchers(Accounting for Deposits in pub)
110804
Review:
DECREASE in Deposits, Line 4.2A
INCREASE in dishonored checks receivable, Line 7.4
update SF 1219 at EOM