Managing Cash

Cash internal controls is a system used to promote accuracy, prevent theft, and ensure a business has enough cash to pay its debts.

A bank is a good cash control because it limits employees' access to company assets and provides documentation on withdrawals and deposits.

A bank reconciliation is an internal control that ensures that the cash in its accounts equals what it has recorded in its books.

A company manages its cash primarily through the use of a voucher system and bank reconciliations.