Handing over cash to the main cashbox
For the owner and the accountant: the step most often forgotten after closing the shift, and what happens when it is skipped.
On this page
Why is this step necessary?
Every cash receipt during the shift increases the balance of the cashier cashbox in the books. Closing the shift corrects that balance to match the counted cash, but it does not move anything. If you take the cash out of the drawer and put it in the main safe without a document, the cashier cashbox is larger in the books than in reality, and the safe is smaller than what it holds. The gap widens every day.
The fix is a single document: a fund transfer from the cashier cashbox to the main cashbox for the amount handed over.
When to transfer and how much?
The simplest practice: after closing the shift, transfer the whole counted amount, or transfer whatever exceeds the amount you want the drawer to start with tomorrow. Example: counted 1,200 and you want 200 left as change, so you transfer 1,000.
Tip
The opening float of the next shift, when left blank, is taken automatically from the ledger balance of the cashier cashbox. If you recorded the transfer correctly, the opening float equals what you actually left in the drawer, with nothing to type.
Transfer steps in the web panel
- From the Documents menu open "Fund transfers".
- Press create and pick From: the cashier cashbox, To: the main cashbox (or the bank if you deposit directly).
- Enter the amount. If the two cashboxes have different currencies, the received amount is also requested, and a fee can be entered if there is one.
- Save, then post the document. It takes its sequence number and affects both balances immediately.
Document details and statuses are in Fund transfers and deposits, and defining cashboxes in Cashboxes and banks.
What happens in the books
What happens in the books
Transferring 1,000 from "Cashier 1 cashbox" to "Main cashbox":
Debit: Main cashbox (1100) 1,000
Credit: Cashier 1 cashbox (1100) 1,000
With a bank fee on a deposit, a debit to Bank fees and commissions (5230) is added for the fee, and the amount entering the bank is reduced by it. Between two different currencies, the realised exchange difference is posted to FX gain or FX loss.
Linking the transfer to the shift
A fund transfer document can carry the number of the shift whose cash was handed over (shift handover #). When it does, the transfer number is recorded on the shift as its handover transfer at posting time, so the shift log tells you which shifts were handed over and which were not. The link appears in the transfer document details as "Shift handover #" followed by the number.
If the step is skipped
- The cashier cashbox shows in the cash liquidity report with a large balance that does not match the drawer.
- The automatic opening float of the next shift is inflated, so a large phantom shortage appears at closing and is charged to the cashier or to cash differences.
- The main safe balance in the books is lower than reality.
Warning
Do not fix undocumented cash movements by typing a smaller opening float by hand. That hides the gap in the books instead of correcting it. Create the transfer document dated the actual handover day.
Frequently asked questions
Can the cashier create the transfer document themselves?
If they are granted the permission to create fund transfers and both cashboxes are within their scope. Usually the manager or accountant does it when receiving the cash.
I deposit the cash directly in the bank. Do I transfer to the main cashbox first?
No need. Create a bank deposit from the cashier cashbox to the bank account directly from Deposits.
I forgot the transfer for a week. How do I correct it?
Create one transfer for the total handed over during the week dated today, or one document per day with its date if you want accurate dates.