Common use of Cash Allocation Clause in Contracts

Cash Allocation. (a) Process on the sales ledger all cash receipts (i) Process and allocate to the appropriate sales debtor all payment receipts as supplied by the cashier's office within 48 hours (but always 100% by month-end close), to include accounting entries for bank charges and any exchange differences (b) Control and reconcile unallocated cash account (i) Reconcile debtor suspense and ensure balance is zero at the end of each month (ii) Reconcile unallocated cash on a regular basis and ensure balance remains below 20,000 GBP (iii) Inform FT Interactive (Europe) controllers when unidentified cash is received

Cash Allocation. (a) Process on the sales ledger all cash receipts (i) Process and allocate to the appropriate sales debtor all payment receipts as supplied by the cashier's office within 48 hours (but always 100% by month-end close), to include accounting entries for bank charges and any exchange differences (b) Control and reconcile unallocated cash account (i) Reconcile debtor suspense and ensure balance is zero at the end of each month (ii) Reconcile unallocated cash on a regular basis and ensure balance remains below 20,000 GBP"20,000 (iii) Inform FT Interactive (Europe) controllers when unidentified cash is received