All businesses guide
Daily Cash Closing: How to Match Cash, Bank and Wallets
Money now arrives in cash, by bank transfer and through mobile wallets. If everything is counted as one pile, a shortage can hide for weeks. A ten-minute closing every evening keeps each account honest.
By Rana Yasir Ali, Founder & CEO5 min read
1. Keep each account separate
Treat the till, each bank account and each wallet as its own account. Every receipt and payment should say which one it went through.
2. Count the till
At closing, count the cash in the drawer and compare it with what the books say should be there.
| Opening cash | Rs 15,000 |
|---|---|
| + Cash sales and collections | Rs 86,500 |
| − Cash expenses and supplier payments | Rs 22,000 |
| − Moved to bank | Rs 60,000 |
| Cash that should be in the till | Rs 19,500 |
3. Record transfers as transfers
Cash deposited in the bank is not an expense and not income — it is a transfer between two of your accounts. Recording it as a transfer keeps both balances right.
4. Keep the owner’s money separate
Money the owner puts in or takes out is capital, not sales or expenses. Record it separately so profit stays true.
5. Check the bank and wallet weekly
Compare each bank and wallet balance in your books with the statement or app once a week, and investigate any difference straight away.
HisabMate
Cash and bank in HisabMate
Every rupee is recorded in the account it went through.
- Cash, bank and mobile-wallet accounts with live balances
- Every receipt and payment posted to its account
- Transfers between accounts
- Owner and investor capital in and out
- Cash book, bank book, day book and cash in hand
- Cash flow statement and expenses by category
Questions
Is a bank deposit an expense?
No. Moving cash to the bank is a transfer between your own accounts.
How often should I close the till?
Every day. A short daily count catches mistakes while they are still easy to trace.
Roman Urdu
Din ke aakhir mein cash kaise milayein?
Opening cash + cash sale aur wasooli − cash kharche − bank mein jama = drawer mein hona chahiye. Cash, bank aur wallet ka hisaab alag rakhein.
Cash aur bank alag rakhne wala software?
HisabMate mein har payment apne account (cash, bank, wallet) mein jati hai, transfers alag hote hain, aur cash book aur bank book tayar milti hai.