Daily Cash Sheet

When it comes to the types of tender used for store and retail transactions, for most businesses, plastic tends to reign.

But while this trend tends to align with most businesses, it doesn’t apply to all. For a sizable bulk of much smaller businesses with specific kinds of retail, cash is still king. And as many businesses owners may, or may not, remember about cash transactions, there tends to be a bit of manual labor involved when keeping track of revenue — the kind of labor that typically gets taken care of with immediate credit card transaction assessments.

For businesses that tend to receive a bounty of cash transactions – and outgoing payments – on a daily basis, keeping a close log is key. And for this kind of tracking, the Daily Cash Sheet from MyExcelTemplates.com can provide an incredibly useful, organized vehicle for future financial assessment.

How to Use the Daily Cash Sheet:

1. Log in your total daily cash transactions. Be sure to specify the type of tender used, the collections on accounts receivable, as well as any other various cash receipts.
2. Deduct any specific cash paid out to customers. Refunds and cash paid out to businesses will amount to a large bulk of your company’s expenditures. Be sure to keep close track of these figures, as they will help to decide your organization’s net revenue. Be sure to take careful note of any major discrepancies within the document, including shortages and missed transactions.
3. Specify who prepared the document, and the date it was completed. The Daily Cash Sheet should be implemented for every workday where you receive, or instigate, cash transactions.

Tips for Optimizing the Daily Cash Sheet for Your Transaction Tracking

• Be sure to deposit all cash receipts into your bank account on a daily basis. As a general rule of thumb, the amount deposited should be roughly the same as your daily bank account total. If they’re different, some sort of transaction mistake likely occurred.
• Be on the watch for any major transaction discrepancies in your Daily Cash Sheet. Although the spreadsheet will help to identify potential transaction issues, keeping a keen eye on daily activities will be key.