Cash register, petty cash or cash transactions

Modified on Thu, 27 Jan 2022 at 03:38 PM

Cash income and expenses always require special attention. Private and corporate are often confused or transactions are overlooked.

Processing cash transactions is highly depended on how cash money is handled within your company. 

Determine which of the situations described below is most similar with the way you are handling cash money. Your accountant will then select the option chosen on the 'Petty cash' tab when using the administration-wizard.

You have a cash register for cash income and expenses
The cash register is an important part of your company. You are checking the balance daily or weekly. If this situation is applicable on your company , it is advisable to work with a cash flow statement. An example of a cash flow statement can be found under Scan forms in the Yuki PO box module. Every period (preferably on a weekly basis) you will fill in the cash flow statement and subsequently scan or mail it to Yuki.

When a petty cash is created in your administration in Yuki you always have the possibility to deactivate it.

You pay for occasional cash expenses out of petty cash
With some regularity you have cash expenses and therefore you have kept petty cash in order to always have some cash money available. You are keeping the receipts of everything that is paid with cash money out of petty cash. We hereby presume that possible cash withdrawals from the corporate bank account are going into your petty cash and that cash deposits on your bank account are coming from your petty cash. What you should submit to Yuki are all receipts that are paid out of petty cash or all the receipts of the deposit slips of cash income (or private deposits). Clearly state on the receipts and deposit slips that they are paid or received in cash. You don't need to scan and upload the deposit slips or withdrawal receipts of your bank. Those are booked automatically from your bank in Yuki. Therefore you don't have to submit a cash flow statement.

You use your wallet and/or chipknip to pay for cash expenses
If you don't have a cash register or petty cash we presume that all cash income and expenses have to be procesed as private. A cash withdrawal from your corporate bank account will be regarded as private and an expense that you have paid with cash money is actually paid wtih private money. In this way you don't have to account for a cash register or petty cash and everything will be settled with the current account of your company.

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