Forum Response

In my observation I’m going to again use ‘The Source’ for this Discussion Forum response. Cash is managed in a number of ways. Since I do not have direct knowledge of their processes for cash, I can go by what I have observed merchants of these type doing. I know this electronics merchant deals in cash, for I have made my purchases using cash. The first handling of cash would be from the Store Clerk that is on shift at the time. This person would keep at the front what is called a float in their cash register. This is setup so when a customer is buying something with cash, they will be able to give change back to the customer during a cash exchange for their merchandise. I have set these up from places that I have worked. If it is a new employee …show more content…
As far as ‘The Source’ is concerned this is the most likely operation as far as cash management. This is all I can stipulate about from just being a customer in front of the counter and not work at the store myself. One company I did a computer project for called ‘OpenText’, they had a Petty Cash system put on a credit card account which had a certain amount in the account. I would use this say someone in the office needed memory to upgrade their computer, I would use this account. Making the purchase of the memory, and keeping the receipt for the accountant. So, ‘The Sources’ proof of cash would most likely be the cash register end of day closing printout, the bank records of deposits, or records of a pickup by Brinks trucks. From this research, it can be seen that a stores cash management system can be quite complexed. Realistically, this can take some good amount of time and experience; ironing out the cash management system until it is working for that particular business or merchant. Conclusively, with the more amount of sales; it must be a big job to have all these reconciliations and balances done to the store’s cash accounts and petty cash