How to Reduce Missing Cash
Missing cash is one of the most frustrating problems for a small business owner. It may be caused by mistakes, unrecorded expenses, wrong change, staff issues, owner withdrawals or poor record keeping.
Record every cash movement
Cash should be recorded when it comes in and when it goes out. Sales, expenses, withdrawals, supplier payments and transfers should all be entered clearly.
Do not wait until the end of the week
If cash is checked only once a week, it becomes harder to know when the problem happened. A daily cash-up makes problems easier to trace.
Separate cash from M-PESA
Cash and M-PESA should be tracked separately. If they are mixed together, it becomes difficult to know where the shortage started.
Compare expected and actual cash
At closing time, compare the amount of cash you expected with the amount physically available. Any difference should be investigated before the next trading day.
Bizwazi helps by recording sales, expenses, transfers and daily balances in one place so differences are easier to spot.
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Track sales, M-PESA, expenses, stock and daily profit in one place
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