[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:00.37,0:00:00.64,Default,,0000,0000,0000,,All right,
Dialogue: 0,0:00:00.72,0:00:03.92,Default,,0000,0000,0000,,let's talk about some examples for internal controls just for cash.
Dialogue: 0,0:00:04.24,0:00:04.66,Default,,0000,0000,0000,,OK.
Dialogue: 0,0:00:04.94,0:00:05.12,Default,,0000,0000,0000,,There's 
Dialogue: 0,0:00:05.24,0:00:06.88,Default,,0000,0000,0000,,some pretty straightforward ones.
Dialogue: 0,0:00:07.41,0:00:07.65,Default,,0000,0000,0000,,Effective
Dialogue: 0,0:00:07.65,0:00:08.63,Default,,0000,0000,0000,,internal control
Dialogue: 0,0:00:08.72,0:00:09.20,Default,,0000,0000,0000,,will
Dialogue: 0,0:00:09.64,0:00:10.48,Default,,0000,0000,0000,,protect cash,
Dialogue: 0,0:00:10.52,0:00:11.91,Default,,0000,0000,0000,,and they should meet three guidelines,
Dialogue: 0,0:00:11.96,0:00:12.34,Default,,0000,0000,0000,,OK?
Dialogue: 0,0:00:12.56,0:00:13.54,Default,,0000,0000,0000,,These are what the,
Dialogue: 0,0:00:13.64,0:00:15.39,Default,,0000,0000,0000,,what you should follow when you're
Dialogue: 0,0:00:15.44,0:00:15.75,Default,,0000,0000,0000,,creating
Dialogue: 0,0:00:15.76,0:00:18.28,Default,,0000,0000,0000,,examples of internal controls just specifically for cash.
Dialogue: 0,0:00:18.56,0:00:21.11,Default,,0000,0000,0000,,One is I want to handle cash or the handling of cash
Dialogue: 0,0:00:21.28,0:00:22.56,Default,,0000,0000,0000,,is separate from the recordkeeping.
Dialogue: 0,0:00:22.64,0:00:22.96,Default,,0000,0000,0000,,Again,
Dialogue: 0,0:00:23.11,0:00:25.23,Default,,0000,0000,0000,,that's the most common one is separation of duties.
Dialogue: 0,0:00:25.40,0:00:27.56,Default,,0000,0000,0000,,I don't want the person with custody of it to be
Dialogue: 0,0:00:27.56,0:00:29.28,Default,,0000,0000,0000,,also the one that's doing the record keeping of it.
Dialogue: 0,0:00:29.55,0:00:29.74,Default,,0000,0000,0000,,Again,
Dialogue: 0,0:00:29.84,0:00:30.91,Default,,0000,0000,0000,,you're gonna hear this so many times
Dialogue: 0,0:00:31.18,0:00:31.24,Default,,0000,0000,0000,,this 
Dialogue: 0,0:00:31.40,0:00:32.95,Default,,0000,0000,0000,,is just a very important one.
Dialogue: 0,0:00:33.64,0:00:36.11,Default,,0000,0000,0000,,Another one is cash receipts are promptly deposited in the bank.
Dialogue: 0,0:00:36.20,0:00:38.15,Default,,0000,0000,0000,,I don't want to have a lot of cash on hand
Dialogue: 0,0:00:38.48,0:00:41.64,Default,,0000,0000,0000,,that opens the door for theft internally or theft externally
Dialogue: 0,0:00:41.64,0:00:43.63,Default,,0000,0000,0000,,with people coming in and maybe robbing me or something.
Dialogue: 0,0:00:44.21,0:00:45.32,Default,,0000,0000,0000,,When I have cash on hand,
Dialogue: 0,0:00:45.40,0:00:47.52,Default,,0000,0000,0000,,I want to take it to the bank as quickly as I can.
Dialogue: 0,0:00:47.60,0:00:47.93,Default,,0000,0000,0000,,Typically,
Dialogue: 0,0:00:47.96,0:00:48.87,Default,,0000,0000,0000,,you're gonna have...
Dialogue: 0,0:00:49.28,0:00:49.41,Default,,0000,0000,0000,,Well, some 
Dialogue: 0,0:00:49.41,0:00:50.89,Default,,0000,0000,0000,,businesses do it twice a day
Dialogue: 0,0:00:50.92,0:00:52.59,Default,,0000,0000,0000,,or at least once a day.
Dialogue: 0,0:00:53.02,0:00:53.09,Default,,0000,0000,0000,,And 
Dialogue: 0,0:00:53.14,0:00:53.95,Default,,0000,0000,0000,,then finally,
Dialogue: 0,0:00:54.16,0:00:56.44,Default,,0000,0000,0000,,cash disbursements are made by check or EFT.
Dialogue: 0,0:00:57.30,0:01:00.17,Default,,0000,0000,0000,,Why check or EFT? Because I have
Dialogue: 0,0:01:00.18,0:01:02.02,Default,,0000,0000,0000,,a number that's associated with it.
Dialogue: 0,0:01:02.10,0:01:03.76,Default,,0000,0000,0000,,I don't want to just give somebody cash
Dialogue: 0,0:01:04.22,0:01:05.64,Default,,0000,0000,0000,,because if I give somebody cash,
Dialogue: 0,0:01:05.74,0:01:07.85,Default,,0000,0000,0000,,they can dispute and it's my word over theirs.
Dialogue: 0,0:01:08.06,0:01:09.22,Default,,0000,0000,0000,,I would much rather give them a check,
Dialogue: 0,0:01:09.30,0:01:12.90,Default,,0000,0000,0000,,so I have that paper trail to go back to see who endorsed it,
Dialogue: 0,0:01:13.06,0:01:13.41,Default,,0000,0000,0000,,who,
Dialogue: 0,0:01:13.54,0:01:13.74,Default,,0000,0000,0000,,you know,
Dialogue: 0,0:01:13.78,0:01:14.47,Default,,0000,0000,0000,,cashed it,
Dialogue: 0,0:01:14.70,0:01:16.09,Default,,0000,0000,0000,,who was paid to and all that.
Dialogue: 0,0:01:16.26,0:01:17.25,Default,,0000,0000,0000,,So, those are three
Dialogue: 0,0:01:17.54,0:01:19.74,Default,,0000,0000,0000,,very important guidelines when it comes to
Dialogue: 0,0:01:19.94,0:01:21.38,Default,,0000,0000,0000,,controlling your cash,
Dialogue: 0,0:01:21.42,0:01:22.75,Default,,0000,0000,0000,,internal controls for cash.
Dialogue: 0,0:01:23.17,0:01:23.74,Default,,0000,0000,0000,,Appreciate it.