Reconciling the cash box

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  1. Prepare all daily deposits
  2. Prepare a special deposit which contains the checks which came in the mail and have already been entered in the books as going in the safe, as well as extra coins (the need for coins may change depending on store and front desk needs)
  3. Using a till worksheet spreadsheet, count all of the cash remaining in the cash box
    • Put prepared but undeposited deposits as individual lines in the checks fields (DO NOT enter these in the books)
  4. delete the value from the A. Cash (start) field
  5. Open the books and make sure all dailies and all bank deposit receipts have been entered.
  6. Enter the current balance from the Assets:Cash:Safe account in the J - Tot Real from DB field
  7. Open a reconciliation window for "Assets:Cash:Safe"
    1. Going through the dailies, make sure all of the daily transfer amounts and all of the deposit receipts have been correctly entered
    2. Things to watch for:
      • Uncaught beginning shift errors (till was off at the beginning of the day)
      • Corrections were made to a till worksheet, but the uncorrected amount got entered into the books
      • Deposit was different at the bank than originally calculated.
      • Checks in special deposit are different than entered in books or are entered in something other than the safe account.
    3. Correct line J as needed.
  8. Once you are sure everything is correct, the amount in K - Till Adjustment should be recorded in the Assets:Cash:Safe account as a short till or overage and mark it as reconciled
    • at this point the till worksheet and the balance in the books should match
  9. Finish the reconciliation.
  10. Note the overage or underage on the till worksheet as having been entered in the books, and print out the till worksheet.
  11. Mark the worksheet with a colored line around the edge and put it in the dailies with the deposit receipts..