Check Purchase Record against the Cash Book; do entries correspond?... From “Total Purchases” subtract “Creditors” column in cash book; does the remainder check with the balance shown in the Bills Payable, Merchandise (or Creditors) account in the Ledger; ... with the credit balance shown on the Purchase Record?... Are all bills discounted?... If not, is there any excuse for it?... Who makes purchases?
Check all vouchers against cash book disbursements. Were all expenditures proper ones?... If not, give particulars under remarks.
(_a_) The following vouchers not rec’d back....
(_b_) Vouchers not supported by canceled checks....
(_e_) Cash found on hand at end of month....
(_f_) Cash in bank at end of month, per bank statement.... Does total of (_d_), (_e_) and (_f_) agree with Statement?... Look up items (_a_), (_b_) and (_c_) mentioned in preceding audit, are they now complete?... State items lacking.... Does Exchange Officer keep the cash book himself?... Does he attend personally to all cash transactions?... Does any employee have access to the cash after it is turned over to the Exchange Officer?... Cash reserve is $....
Inspect trial balance; is it correct and does the Ledger balance?... Is the system being rigidly adhered to?... Report to the Council any omissions or faults found in the manner of keeping the books.
Check all items on Statement of Income and Profit and Loss against the original entries; do they agree?... What earnings cannot be accounted for?... What earnings are not taken up on the books?... Check all entries on General Balance Sheet against the original entries; do they agree?... Are any assets left off the books?... Were all assets actually on hand as shown?... Are any liabilities left off the books?... Among the liabilities shown, are there any which are not real obligations of the Exchange?...
Is copy of Steward’s Report posted for information of customers?... Any books or papers which should be destroyed?... Any recommendations?... If so, submit them to Council in separate report. Remarks....
(Signed) .... _Captain, C. A. C., Auditor._
In Post Exchange business, these machines are ordinarily used in recording all sales, although some Exchanges do not ring up their charge sales, but rely upon the sales slip alone, an unsafe practice. There is, besides, a saving in ringing up all sales. These machines, if properly handled, and used in conjunction with our stock records at selling price should amply protect the Exchange.