Difference between revisions of "Reconciling the cash box"
Jump to navigation
Jump to search
m |
|||
Line 13: | Line 13: | ||
#* The amount in ''K - Till Adjustment'' should be recorded in the ''Assets:Cash:Safe'' account as a ''short till'' or ''overage'' | #* The amount in ''K - Till Adjustment'' should be recorded in the ''Assets:Cash:Safe'' account as a ''short till'' or ''overage'' | ||
#* ''at this point the till worksheet and the balance in the books should match'' | #* ''at this point the till worksheet and the balance in the books should match'' | ||
+ | # Review the ''Income:Overages:Other Petty Cash Overs'' and ''Expenses:C7:Short Tills:Other Petty Cash Shortages'' accounts for patterns that might point to a cause. | ||
+ | #* ''the larger or more regular the discrepancy, the more important this is'' | ||
[[Category: Accounting]] | [[Category: Accounting]] |
Revision as of 12:40, 25 October 2007
- Make a special deposit
- include any undeposited checks
- include any unneeded change:
- count out 15 pennies, 15 nickels, 15 dimes, all the quarters and save them
- any remaining coins (including half dollars and dollar coins) are unneeded change and go into the special deposit
- Make sure all regular have been made.
- If you can't wait for the deposits to be made, double count prepared but undeposited deposits and record them in the books anyway.
- Use a till worksheet spreadsheet to account for all cash remaining in the cash box
- do not include prepared but undeposited deposits in the till worksheet
- delete the value values from the A. Cash (start) field
- enter the current balance from the Assets:Cash:Safe account in the J - Tot Real from DB field
- double check and print
- The amount in K - Till Adjustment should be recorded in the Assets:Cash:Safe account as a short till or overage
- at this point the till worksheet and the balance in the books should match
- Review the Income:Overages:Other Petty Cash Overs and Expenses:C7:Short Tills:Other Petty Cash Shortages accounts for patterns that might point to a cause.
- the larger or more regular the discrepancy, the more important this is