Accounting Office / Accounts Payable

All losses of cash by disappearance should be reported to the ISU Public Safety Office (294-4428) immediately by phone, and then by memo, with a copy to the Vice President for Business and Finance. This memo should outline the description of the events surrounding the loss, including the date, time, location, and estimate of the loss (if known). On the first business day following the discovery of the loss, the department should notify Internal Audit and the Office of Risk Management.

Follow this example to prepare a net zero voucher to record the loss of a petty cash fund.

The loss of cash sales receipts should be recorded as follows:

1. Complete a Deposit Online recording the sales and related sales tax as if you were depositing the receipts.
2. Type "Theft Loss" in the description.
3. Record the sales to the usual fund account and class code. Also, add a line recording the loss and enter the amount
4. Attach verification of the loss from either the ISU Department of Public Safety or the Internal Audit Office.

Last Updated August 28, 2009.