End of Day Cash Register Report

The cash report is straightforward to prepare. It is a formal document that documents the amount of cash in and out. It ensures that all the money used by the business has been reported.

Every business person needs to know about the total cash collected at the end of the day. The cash register is maintained in almost every business where the details about the cash are noted.

The cash report is prepared to prevent money mishandling and protect a company’s assets against loss.

Download File Format: Excel [.xlsx]

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Download File Format: Excel [.xlsx]

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Every business that feels the need to have a proper and efficient accounting system uses the cash register. Many companies face much loss because they do not prepare a cash report for daily cash received.

Preparing the cash report involves counting all the cash received each day, collecting all the receipts, and performing the accountability of all the transactions that take place each day.

Many companies have also set up a cash management system to prepare a better report according to the business’s policies.

What is the purpose of preparing the cash report at the end of the day?

These are a few reasons that compel a business to prepare cash report:

1. To avoid holding too much cash in the office, the cash report is ready at the end of the day and deposited in a company’s account.
2. The cash report lets the business know the loss incurred if a robbery occurs in the stores.
3. A cash report can quickly reveal if a particular cashier is in shortage.
4. The cash report does not allow anyone to take the cash from the drawer before it is documented. This enables the business to avoid undocumented expenses.
5. When a customer complains about the change being too little, the cash report can be consulted.

Preview

Download File Format: Excel [.xlsx]

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