Abstract:
Cash collection technique represents “the management of cash inflows and outflows of the firm,
as well as the stock of cash on hand. The primary goal of internal control over cash collection
function is to minimize the amount of cash a firm must hold in order to carry out its normal
business activities on one side, and on the other, to obtain sufficient cash funds that would
enable the firm to take trade discounts, to maintain its credit rating and to meet unforeseen cash
needs. This study will be specific to Wegagen bank S. C., Hosana branch with the aim of
assessing the internal control on cash collection. From the total of 38 workers of the bank,
samples of 20 employees were selected based on simple random sampling technique. In doing
so, the researcher was used the data mostly from both primary and secondary sources. The
collected data from both sources were processed using the basic data processing procedures and
ready for analysis. The data analysis was commenced, using simple descriptive statistical
analysis method. So, the result of this result showed that there is proper internal cash control
system and also have good cash collection procedures and practices in the bank. Finally, the
bank should continue its practice and update his employees through training with the new way of
working
