Cash closing is an essential routine in businesses. As this facilitates financial control. And in fact, this process can be quite quick and simple once you. Learn how to do it. It is not the only thing that matters. But if there is a serious error in it, this will probably be fatal to the company’s health . After all, it is through the cash register that all the financial resources for sales and all the money the company needs to pay its employees, inputs, bills — in addition, of course, to the profit. Every business needs money and profit, right? However, often, the lack of control over this money can cause losses that are inexplicable : why do we sell so much and still not manage to make a profit? There are several possibilities to explain this phenomenon.
What is cash closing?
But, to understand what happens — and be able to take action to resolve it — it is essential to have control over your cash. And this is where we observe the importance of cash closing , the main subject of this article. What is cash closing Anyone who has never performed. Especially when we talk about the importance of this procedure — may think that it is something very complicated to do. Something Lebanon Phone Number Data Mobile Number Data. Salethat only experts can do, with a lot of effort. But the truth is that it is a simple and routine procedure . Which doesn’t diminish its importance. Nor allow you to pay ounting and checking all cash inflows and outflows in a given period . Whether all the money is where it should be — or whether there is something wrong. Various errors can occur, such as giving too much change, entering a different amount on the card machine — more or less.
Define when and by whom it will be done
Ideally, the values you find in the cash register at the end of the day are exactly the same as expected , according to the transactions recorded on the day. Otherwise, we have a “cash break”. Breakage can happen due to one of these. Errors, but also due to theft or fraud. Making indiscriminate cash withdrawals — especially to cove Lebanon Phone Number the owners’ personal expenses — is not something that should happen. Even finding extra amounts at the checkout. Can be bad. After all, you have no way of knowing if it’s something you actually earned extra (like a tip) or if it’s the result of an error, if it’s money you took from. Somewhere else or another possibility. For the company’s financial health, all inflows and outflows must be properly recorded. 5 steps to close the cash register in practice.
