Daily Cash Sheets

A cash sheet is a daily reconciliation of cash received and cash paid out. If a lot of your business is transacted in cash, such as in a retail store, you should prepare a cash sheet at the end of each day. Deposit all cash receipts in your bank account daily. Your daily cash receipts should generally be the same amount as your daily bank deposit. If they are not the same, you should investigate and reconcile the two amounts. Any reasons for a difference should be apparent on your cash sheet, such as a small amount of cash paid out for a miscellaneous expense.

An important reason to do a cash sheet is to alert you to any shortage or surplus of cash for the day. Some businesses that do not prepare a cash sheet simply count the cash in the register at the end of the day. Without doing a reconciliation, they don't discover any shortages or overages. A shortage could be the result of theft, or it could simply result from your failure to record a special transaction, such as an expense you paid in cash.

Among the Business Tools is a cash sheet for your use. Simply plug in your daily amounts, and you will instantly see whether you have a cash shortage or surplus at the end of the day. It is an Excel 4.0 spreadsheet template, so you can use the template over and over again for your daily needs; you need to download it only once.