Your Daily Cash Receipt Formula
Accounting for the cash you receive each day is the very first step in a single-entry bookkeeping system. The either/or dilemma is often between letting cash flow go unchecked vs. adopting a simple tracking system. A Simple system is the solution.
At the end of each business day, you'll total up all the cash you have on hand. From this total, you subtract the starting amount you keep in the register for making change. The result is your total cash receipts for the day. This daily summary helps you track cash sales and ensures your cash register total is accurate.
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DISCLAIMER: This content is for educational purposes only and should not be considered personalized financial advice. Always consult with a qualified financial professional before making financial decisions.