Efficiently Managing Cheque and Cash Payments: Tips and Tricks

[PamperedK]

How do you all keep track of cheque / cash payments?

I never seem to have the right amount in my account. I know I sometimes will spend cash that gets mixed in with my own. But I have overdraft and I always leave my commission cheques in my account to cover anything I'm short.

Anyway - my question is how can I keep track of the cheques people give me and whether or not I've actually deposited it into the bank?

 

[wadesgirl]

I have two accounts, one PC one personal. That way I don't have to worry about spending money that isn't really there. I have a PC money bag that I put all checks and cash into at the show. The very next day I deposit the money (my bank is less than 5 miles from where I live). After I submit a show, I always right down in the check register when I put a show through. I also put all receipts in the check register the minute the cashier hands it to me. That way I keep track of every time I use my debit card.

 

[swinkate]

My method is basic...

When taking orders at the show I take the half empty host packet, fill it with the order forms, cheques and cash. When I get home I put it straight on to the system. The loose change goes back into my purse, the cheques and notes get stuck onto my whiteboard by the computer with a really strong magnet! I bank once a week and take everything on the whiteboard with me.

I also then refill the host packet so it's ready to go again.

 

[Humble Beginnings]

Have separate accounts. HO takes awhile to take the money out of your account which will get confusing. I definitly make sure everything matches before I submit the show. I deposit the checks and forget about it. This way there's no worries about anything bouncing.

 

[PamperedK]

I do have a separate account. I'm not sure why things aren't adding up because I use my laptop at my shows and I always enter the payment right there. I'm thinking I'll put each show's deposit into separate envelopes so I can see each individual cheque on the receipt and match it against the show...?

 

[gailz2]

I total up my shows and home and submit them then get the $$ to the bank in a couple days. My bank was nice enough to give me a banking zippered case for free since it was for a business. I use paper clips on the checks and cash till all is ready to deposit.

 

[pampchefrhondab]

I always keep a manila folder for each show. On the outside at the top I write the host name, date and show number w/a Sharpie. Inside the folder I keep all my notes, receipts, etc. On the receipts I write the check number given to me. I then write on the outside folder the total received in checks and then cash, list a total and then write the date I made a deposit at the bank.

 

[PamperedK]

I always keep a manila folder for each show. On the outside at the top I write the host name, date and show number w/a Sharpie. Inside the folder I keep all my notes, receipts, etc. On the receipts I write the check number given to me. I then write on the outside folder the total received in checks and then cash, list a total and then write the date I made a deposit at the bank.

That's a great idea! I already keep a folder for each show so it wouldn't be hard to do this.