Here’s a practical guide to help you implement strong cash handling procedures in your business.

1. Keep a Consistent Base in Your Till

Start each day with the same base amount (many businesses use $150-$200 but this depends on your volume of cash sales). At closing, remove all revenue above that base to deposit into the bank. This way, your till always opens and closes at the same amount — making discrepancies easier to spot.

💡 Tip: Assign one employee per till per shift to limit confusion and make accountability clear.

2. Don’t Skip the Coins

It might be tempting to skip coin counting, but accuracy matters. Count every bill and coin at each close. A coin counter (available for under $100) is a small investment that saves time and improves accuracy. 

3. Protect Against Loss and Theft

• • • Always open the till before the first sale — if you don’t, your POS reports may not match the actual cash.

    • Inspect bills over $20 for counterfeits.

    • Store larger bills underneath the drawer to keep them out of sight.

    • Be alert for scams like “quick change” tricks.

4. Handle Tips the Right Way

Cash tips often create confusion — but improper handling can lead to big penalties.

• • • Keep tips separate until recorded. (Many owners use a jar under the counter.)

    • If your POS doesn’t track tips, run a “free item” transaction and log them at the end of each day.

    • Once recorded, tips can be deposited with other cash. (They will be included in regular payroll processing.)

    • Maintain a simple spreadsheet with date and amount to stay compliant in case of an audit.

    • Always pay out all tips to employees — never use them for staff snacks or expenses.

5. Maintain a Reserve and Exchange Smartly

• • • Keep a reserve fund in your safe with balanced denominations.

    • When tills run low on a bill type, exchange with your safe — not from another till.

    • When you’re short on a denomination, exchange excess bills at the bank instead of withdrawing new funds. This prevents overstating deposits and keeps your records clean.

6. Standardize Your Deposit Process

A consistent deposit process reduces errors and minimizes theft risk:

• • • One employee prepares the deposit, another takes it to the bank.

    • Always count in private, ideally with two people present.

    • Count twice, in order (lowest to highest bills).

    • Review the deposit slip carefully — even tellers make mistakes.

    • Make daily deposits if possible; if not, deposit at least once a week.

Final Thoughts

Effective cash management isn’t just about balancing numbers—it’s about creating systems that protect your business, support your team, and ensure financial accuracy.

By implementing consistent processes, maintaining clear records, and enforcing checks and balances, you can reduce errors, prevent loss, and operate with greater confidence.

 Need Help Keeping Your Financial Systems Organized?

At Certus Accounting, we help business owners implement processes that bring clarity and control to their finances—from bookkeeping to cash flow management and beyond.

Connect with our team today to learn how we can support your business.