How Does Women'S Clothing Store Manage Cash Problems?

No matter what the profit and loss figures of accounts and statements are, they must be settled in cash.

If cash is not enough to cover daily business activities, the figures of the financial statements will go bankrupt even if there is a surplus. This shows the importance of store management for cash demand.

The first principle of cash management is to set up a summons system, that is, all receipts and payments need documents and appropriate summons. Subpoenas are subject to proper approval and no summons are not payable. Therefore, cash management should be provided as follows:

(1) establishing a summons system.

(2) accounting teller separate operation.

(3) in addition to petty cash, all cash must be deposited in a bank account. All payments must be made by cheque. The check should be opened and drawn as far as possible and marked "no endorsement pfer".

(4) in addition to establishing a summons system, the cash management system must establish a very clear method of cash receipts and payments and payment of petty cash, because all payments are paid by cheque. Sporadic daily payments are very inconvenient, so the petty cash is paid in cash, but the following three principles need to be stipulated.

(1) how much money should be made to be paid by the petty cash, usually determined by the situation of the shop itself, the amount can be large or small; if the payment is not convenient, the amount can be raised or reduced by itself, so as to meet the needs of the actual operation.

(2) the amount of allowance made by the petty cash fund must be determined according to the actual needs of the shop.

Usually, it is generally required to spend about two weeks on a casual basis, that is, how much money will be required for the payment of petty cash in two weeks.

(3) the amount of emergency payment that exceeds the maximum amount of petty cash payment should be handled by small loans. Small borrowers usually need to open an account, which must be approved by the department heads and the financial controller before they can be paid.

A sound cash internal control system should follow the following general principles:

(1) teller and accounting assignments separately

Accountants who handle cash receipts and payments, and accounting work in charge of cash books and bookkeeping, must be held by different personnel and be tied to each other. If necessary, they can be mobilized so as to avoid cheating.

(2) cash in stock is reduced to a minimum.

As mentioned before, "all receipts are deposited in banks, all expenses are paid out."

In case of cash income, payment may not be pferred.

The only cash in stock should be only pocket money.

(3) the establishment of a surprise inspection system.

The treasurer or the internal auditor should rush to inspect the petty fund and cash related accounts at any time.

4. key points of cash management

(1) revenue side

All cash receipts must be recorded immediately.

For example, opening a serial number of invoices, or issuing a bill of lading, or using cash registers to open invoices.

It is best to set up a centralized collection office, invoke the staff, or stamp the invoices on the invoices already opened.

If every income is recorded, it is easy to check, and more than two people can naturally reduce the chance of cheating.

The cash register should be audited at random to prevent fraud. Cash volume of cash registers should be strictly controlled.

2. Accounts receivable should be checked and cheques should be drawn up.

When the bill is cleared monthly, the customer should check it as soon as possible. When receiving the bill, the customer should be asked to draw a drawn cheque.

For each customer's book balance, accountants or auditors should check at any time to investigate whether there are still overdue outstanding accounts and collect them.

(3) long term receivable tickets should be logged in: long dated passenger tickets should be registered in the logbook according to the due date, and then deposited in the bank collection.

(2) expenditure

Except for petty cash, all expenses should be paid by cheque.

A cheque is opened by a cashier who is prepared by the accountant and signed by a cashier. The cheque should be opened and drawn in order to avoid falsely claiming or missing.

The check amount should be opened with a cheque machine which can prevent alteration. The blank cheque should be kept in good order; the cancelled cheque should be marked "invalid" and adhered to the check stub.

After the check is opened, the words "paid" should be stamped on the summons and the attached documents, so as to prevent the same document from being reimbursed many times.

The cheque should be registered in detail.

The cashier should set up a cheque book and register the check in detail according to the expiration date.

In addition, a bank register should be set up or a bank column should be set up in the cash book to register the deposit and expenditure. At the end of each month, the cashier should check the balance of each account with the bank statement and compile the bank reconciliation form.