Cash administration

Cash administration is one of the most important parts of the accounting in the Hospitality and Retail industry.

Cash administration

Cash book

What is a cash administration and is it mandatory?

You can find all the income and expenses of a company in a cash administration. If a customer makes a cash payment in your store, you are obliged to keep a cash administration. The tax authorities require a company to keep track of its income and expenditures and if it is asked, to show it to them. In Hospitality and Retail, the cash administration has to be updated on a daily basis.

What kind of cash administrations are there?

There are several ways to keep a cash register. You can use a paper cash book, you can choose to keep track of everything via Excel or do you prefer everything in the Cloud such as the online cash book of The first two ways are very sensible to errors and the minimum storage of 7 years also does not really help. The online cash book of stores all its data in the Cloud, spread over 2 server locations so your data is always kept safe. you also do not have to consider the retention of the data because it is kept in the Cloud.

Kasboek marktkraam koppeling

How do you keep a cash book?

Keeping a cash register is simple. You start the day with something called ‘starting cash’. This is the amount you have in your cash register at the beginning of the day. For example: let’s take €100, -. You then enter all the turnover and expenses of the relevant day in the cash register. The next step is to verify the correct payment method so that it is also good in your accounting. To start the next day with the same starting cash of €100, – you have to deposit your cash. It is possible that a cash difference arises, for example, due to an incorrect entry on the cash register or in the worst case due to fraud.