Evaluation of Cash Receipt and Cash Disbursement Recording Procedures in Supporting the Accuracy of Financial Statements at PT Jasa Raharja Finance Division

Abstract

The study purpose was to evaluate the implementation of cash receipt and cash disbursement recording procedures at the Finance Division of PT Jasa Raharja and to analyze the extent to which these procedures support the accuracy and reliability of financial statement presentation. As a state-owned enterprise managing public funds, the company is required to maintain high standards of accountability, transparency, and internal control in managing cash transactions.

Materials and methods. This research employed a descriptive qualitative approach conducted in a natural setting within the Finance Division. Primary data were collected through direct observation, semi-structured interviews with finance personnel, and practical involvement during the internship period. Secondary data were obtained from company documents, including financial statements, cash books, transaction records, and standard operating procedures, as well as relevant accounting literature. Data were analyzed through stages of data reduction, data presentation, and conclusion drawing to assess whether the implemented procedures effectively support accurate financial reporting and adequate internal control.

Results. The findings indicate that cash receipt and cash disbursement procedures have been implemented in accordance with established standard operating procedures and accounting principles. Transactions are supported by document verification, sequentially numbered vouchers, tiered authorization, bank reconciliation, and recording within the Enterprise Resource Planning system. The predominance of non cash transactions through the Cash Management System enhances transparency and reduces the risk of misappropriation. However, several constraints were identified, including delays in document submission, reliance on manual verification, reconciliation discrepancies, and occasional human error in journal input.

Conclusions. Overall, the cash recording system is supported by structured internal control mechanisms and digital systems that contribute to financial reporting accuracy. Nevertheless, continuous improvement in system optimization, document digitalization, and routine monitoring is necessary to enhance efficiency and maintain the reliability of financial information.