The cash account is included within the Banks section of Holded. Check out this article if you want to know more about everything you can do from this section or this other one to learn more about the cash account in Holded.
- Go to Accounting from the navigation bar
- Select General ledger
Depending on your activity, you may need to perform a daily cash desk closing. The cash closing is similar to the cash count, in which the cash in the cash register is accounted for.
For example, let's say you work in a store, and you started your day with a cash balance of 100 euros. Throughout the day, you have made a number of sales and generated several tickets. At the end of the day, the amount invoiced and resulting from this set of tickets should be equal to the amount in the cash register minus the initial balance of 100 euros. Following the example above, if, at the end of the day, you have 600 euros in the cash desk, and you subtract the initial balance of 100 euros, the remaining 500 euros would have to coincide with everything you have generated in cash. This operation is important and will help you to check if the cash balance is correct if the changes have been made correctly, etc.
After checking that everything matches, the next step is to leave the cash account with the balance you want to start the next day's activity with. For this reason, you will have to make an entry to unload the cash in favor of a deposit in the bank. We explain how to perform this operation below.
Executing the cash desk closing
- Click on New entry
- Keep the Entry type as Regularization seat and the Default entry
- Enter the Date
- From the first row in Account select 57000000 Cash, Euros from the search bar
- Include a brief Description, for instance, Deposit
- In the Debit column, enter the amount to be transferred to the bank account
- In the second row under Account, select 57200000 Banks, Euros
- Then, in the Credit column, enter again the amount to transfer to the bank
By doing this, we avoid an imbalance when generating a new entry
- Hit Save