Common use of Procedures Done Clause in Contracts

Procedures Done. By Date 1. Obtain and examine daily cash journals, general ledger, and bank statements which reflect gross sales reported by the Concessionaire. 2. Schedule this information on a spreadsheet. Note any differences. 3. Create a spreadsheet of point-of-sales documentation (daily cash register tapes or receipts) for sales. Search for revenues which may not have been reported to the DEP. 4. Compare point-of-sales (typically cash register tapes) with sales amounts reported in the cash journal. Depending on the volume of transactions, pick a judgmental sample of days for detailed testing. Test until an opinion is formed regarding the accuracy of the cash journal based on daily sales receipts. 5. Evaluate rental transactions to ensure there is adequate documentation to support use of equipment.