How should a person handle receipt of a change fund every day?

• A. Sign a receipt for the amount received every day
• B. Leave cash unrecorded
• C. Deposit change fund without receipt
• D. Record only weekly totals

Answer: (A)

Daily cash accountability for a change fund hinges on documenting each receipt with a signed record. Signing for the amount received each day creates a verifiable paper trail that shows exactly how much is in the fund and who is responsible for it. This supports accurate daily reconciliation and helps prevent loss or misappropriation by establishing clear responsibility and an auditable trail. Without a signed receipt, there is no formal proof that the change fund was received or that it matches the recorded amount, which weakens internal controls. Depositing the change fund without a receipt eliminates the needed documentation; recording only weekly totals misses the day-to-day movement and makes discrepancies harder to detect. Therefore, signing a receipt for the daily change fund is the proper practice.