Cash register, petty cash or cash transactions

Cash income and expenses always require special attention. Because private and business funds are easily mixed in this process, the risk of missing transactions is high.

How you process cash transactions in Yuki depends on how you handle cash within the company. Your accountant records the chosen option in the Administration Wizard under the 'Cash' tab.

PLEASE NOTE!

The situation you choose has a direct impact on how financial documents are posted in your domain.

Select below which of the three situations best suits your business operations:

1. Regular cash transactions (processing via cash statement)
2. Money box & petty cash ((payment method 'Cash' available)
3. Rare cash transactions ((payment method 'From private' available).

1. Regular cash transactions (processing via cash statement)

This option is intended for companies where the cash register is an essential part of operations and cash payments occur very frequently. This is the most verifiable method.

Procedure

You check the cash register balance daily or weekly. Amounts can only be booked into and out of the cash register via documents of the type 'Cash statement'.

Submission

You complete a cash statement periodically (preferably weekly) and scan or email it to Yuki. (An example of a cash statement in Excel or PDF can be found at the bottom of this article).

Entries

Sales invoices marked as 'paid in cash' are transferred to an interim account. This also applies to cash withdrawals and/or deposits from a bank transaction.

TIP!

If a cash account is created in Yuki, it is always possible to set it to inactive later.

2. Money box & petty cash (payment method 'Cash' available)

This option is recommended when there is limited cash flow, such as an office cash register (petty cash) for small, incidental expenses.

Procedure

There is a office cash register (petty cash) containing a small amount of cash for minor expenses. Invoices and receipts with the payment method 'Cash' are booked directly from this cash register. Any cash withdrawals or deposits from the business bank account are settled directly with this cash register (petty cash).

Submission

You do NOT need to submit a cash statement. However, you must submit ALL receipts paid in cash and ALL deposit slips (for cash income or private deposits) in Yuki.

ATTENTION!

Clearly indicate on the receipts and deposit slips that they were paid in cash. You do not need to scan the deposit or withdrawal slips from the bank itself; Yuki books these automatically via bank transactions.

3. Rare cash transactions (payment method 'From private' available)

This option is ideally suited for small businesses with a single owner or self-employed individuals who rarely or never handle business cash.

Procedure

All cash payments and income are treated as private transactions.

Entries

Invoices and receipts paid in cash are considered 'paid from private' (a private deposit). Cash withdrawals at an ATM are considered a private withdrawal.

Advantage

You do not need to keep cash records. Everything is automatically settled via the owner/director's current account.