Introduction

While EvolveGo does not have a dedicated Transit Money register, you can still effectively track and report on Transit Money transactions by using the Safe Custody feature. This guide outlines the steps to achieve this.

Step-by-Step Instructions

Step 1: Create a Safe Custody Packet

Set up a Safe Custody packet specifically for Transit Money in your firm’s records. Name the packet clearly to distinguish it from other Safe Custody items.

Step 2: Document Each Transit Money Receipt

For each receipt, create a new document in the Safe Custody packet. Be sure to include the following details:

• Select “Transit Money” as the Document Type.
• Enter all relevant details, such as the cheque number, in the description field.

Use consistent naming and details to simplify tracking.

Step 3: Hand Over Cheques to Third Parties

When handing over a cheque, update its status and record the necessary audit information:

• Change the status to “Removed from Safe Custody.”
• Record the recipient and date for audit purposes.

Further Information

You can report on the status of Transit Money items using the Safe Custody – Full List report and available filters.