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Alpha Teach Yourself Bookkeeping in 24 Hours by Carol Costa

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Hour 6

Cash Receipts and Sales Tax

Chapter Summary

In this hour you will learn about…

  • Handling cash sales
  • Sales tax
  • Balancing the cash register
  • Posting the sales
  • Adjustments to sales
  • Depositing cash receipts

As the bookkeeper in a retail operation, you may not be the first person who handles the cash receipts. However, you may be the person who supervises the cashier and you will be the person responsible for recording the sales and making the bank deposits.

 

Depending on the size of the retail operation, the cash may flow through one simple cash drawer or multiple electronic cash registers. Regardless of how it is initially collected, there should be a system in place with checks and balances that minimize errors and discourage dishonesty.

 

The term “cash ...

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