Some companies may have considerable amounts of cash meaning they deal on regular basis with cash payments. As such there is usually more than one place for keeping those cash amounts and obviously there are considerable security requirements and procedures introduced.

One thing that also must be remembered is that cash is like all assets, they need to be counted or confirmed for existence every now and then. When bank accounts are confirmed with bank statements, receivables with confirmation letters or payments, the cash is behaving in a way like the inventory.

In a way meaning that obviously you don’t need to have a list of every note you have on your balance sheet, rather you have a sum like 1000 EUR. This consists of various notes and as such this needs to be counted. Since cash is the easiest to use and being very liquid, it is often subject to being stolen. Consequently, you want only person reliable to count for the cash and obviously do it as often as is practicable.

Counting cash is easy and doesn’t usually require any specific knowledge or anything of the sort. With considerable amounts of cash it may be necessary to hire professionals with special equipment like cash counting machines like the ones you see in the banks etc. However, in case of small businesses this will be more of a waste then actually beneficial.

In summary, don’t forget to check on your company’s wallet from time to time.