During non-major buyback periods, books are bought back at wholesale prices. Once the price for each book has been determined, the clerk notifies the student, who then decides whether or not to sale the books back. The cashier initials the Buyback Receipt. Buyback transactions are automatically subtracted out of the registers daily sales, thus allowing the cashier to balance the register sales back to the original cash fund. H. Petty Cash Procedures 1.
Petty cash is used to purchase miscellaneous store supplies.
To receive petty cash, a Bookstore representative submits a list of needed supplies to the Store Manager. If approved, the list is then taken to the Cashier Supervisor who assesses how much money will be needed. The Bookstore representative signs a slip stating how much money he or she receives from the Cashier Supervisor. The slip is placed into the petty cash envelope in the vault. When the store representative returns to the Bookstore, the Cashier Supervisor compares the change given to the sales receipt, and that total to the original amount given to the store representative.