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What does ‘cash on hand’ mean in bookkeeping?
Manage episode 507163996 series 3343948
When your POS totals don’t match your bank deposits, the mystery usually comes down to three little words. Don't worry, our favorite Bookkeeping Mensch, Paul Rosenblum, is here to break down the tricky world of cash on hand. From POS systems and sales tax to tips, deposits, and those frustrating month-end discrepancies, he explains how this account works, why it’s so confusing, and what both bookkeepers and business owners need to understand, including:
- 💳 How POS systems track sales, tax, and tips
- 🏦 Why deposits rarely match end-of-month sales
- 📊 What “cash on hand” looks like in the books
- 💵 Common mistakes with cash, checks, and payroll
- 🤝 How communication between owners and bookkeepers prevents messy books
With real-world examples and clear explanations, Paul gives you the clarity and confidence to spot cash-on-hand issues before they snowball into messy books and costly fixes.
IRS $6K deduction
😄 Send Paul a message. (add your email for a reply). https://www.buzzsprout.com/twilio/text_messages/2188873/open_sms
🎧 Podcast production & Growth: https://www.coffeelikemedia.com/
💸 Website: https://bookkeepermensch.com
🎵 Music: SourceAudio: https://www.sourceaudio.com/
📨 Email: [email protected]
68 episodes
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