Introduction
Cash Counts help you accurately record and reconcile cash held on site, providing visibility of cash movements and highlighting any variances that require investigation.
This guide covers common questions and troubleshooting tips to help you manage cash counts effectively. Whether you're completing a routine period-end cash count, investigating discrepancies, or reviewing cash performance, the Cash Count feature helps ensure cash activity is recorded consistently and accurately.
Use this guide to understand how cash counts work, resolve issues quickly, and gain valuable insight into cash movements and variances throughout the reporting period.
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Frequently Asked Questions
Which Cash Need Counting At Period End?
During a cash period, all Cash, Control, and Float type Site Accounts assigned to the site are automatically displayed. Consequently, it's necessary to provide a count for each of these accounts at the period's conclusion.
In case the period displays an account that is no longer relevant for your site and holds no balance, you have the option to easily remove it. Click Here for details on how to remove the account from your site account listing to prevent it from appearing within the cash period.
Troubleshooting
I Have A Cash Count Variance That Needs Investigating.
If you encounter unexpected variances after entering cash counts, the guidance below can help you identify and resolve the cause.
The Cash Account Variance Report provides a detailed breakdown of any discrepancies identified at the end of the period. In addition to highlighting variances, the report shows the opening balance (carried forward from the previous period's closing count) and provides a summary of all cash movements recorded during the period, grouped by movement type.
Use this information to trace the source of variances, verify account activity, and ensure period counts accurately reflect the cash held on site.
| Cause | Solution |
|---|---|
| The previous period is not yet approved. | The Opening column of the report will only reflect the closing count of the previous period once it has been approved. Update the state of the previous period to Approved. |
| The count entered is incorrect. | Check the Count column of the report to ensure that the counts correctly reflect the physical cash on hand for each account at the end of the period. If not, update the count sheet to correct the count. |
| The count entered in the previous period is incorrect. | If the count in the previous period was entered incorrectly, the Opening column of the report in this period will be incorrect. To resolve, roll back the previous period and correct the count. |
| There is an outstanding record within the period. (e.g. cash up not yet approved.) | Ensure that the Trial Approve process has been run within the period, to check for any outstanding records that need to be finalised within the period. |
| A record within the period has the incorrect date. (e.g. bank deposit is deposited with a deposit date that falls in the wrong period.) | For each account, check that the movement totals accurately reflect the actual movements that occurred during the week. If not, review each record within the period that makes up that total to check that dates entered are correct. For any records with incorrect dates, roll back the record to correct the date and re-approve it. |
| A mistake has been made in a record within the period. (e.g. a cash purchase from the wrong account, or an incorrect value entered.) | For the product, check that the movement totals accurately reflect the actual movements that occurred during the week. If not, review each record within the period that makes up that total. For any records containing mistakes, roll back the record to correct the mistake and re-approve it. |