Reconciling the cash box

1. 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
2. If you can't wait for the deposits to be made, double count prepared but undeposited deposits and record them in the books anyway.
3. make a special deposit, especially if there is a glut of change
   • include any undeposited checks
   • include any unneeded change:
     1. count out 15 pennies, 15 nickels, 15 dimes, all the quarters and save them
     2. any remaining coins (including half dollars and dollar coins) are unneeded change and go into the special deposit
4. Using the till worksheet, count the bling in the cash box (including change, bills, and loose checks, if you have them)
   • the actual amount in the cash box will appear in the Money for Safe box
   • in the "Tot Real from DB" field enter the amount from the books (Assets:Cash:Safe)
5. What is the amount that comes up under Assets:Cash:Safe? Do this amount match your cash box total?
   • discrepancy will appear in Till Adjustment field
   • make sure deposits have been recorded
   • double check cash book (daily transfers & deposits)
   • have all the dailies been recorded?
6. If the actual cash box amount and the expected amount in the books differ, then record an overage or shortage.
7. Reconcile to that date

When finished:

• 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