Counting cash is an important part of the internal controls of a business. A cash count sheet is a business accounting document which is used to carry out a physical inventory count of cash they have on hand.
The cash count sheet provides a summary of the cash counted by denomination, quantity and amount. Additionally the sheet is used to total the amount of cash counted to allow comparison to the cash book value. Any difference between the two is then recorded on the sheet. A comments box allows for an explanation of the difference.
Using the Cash Count Sheet
Begin the actual cash count by collecting all cash on hand and separating it by denomination. As you count each denomination, record the number of notes and coins in the appropriate column on the count sheet. Once you have completed the count, add up the total amount of cash and record it at the bottom of the table. This should match the total amount of cash on hand shown in the accounting records. Finally record any difference between the two amounts and provide an explanation in the comments section.
It is important to realize that the count sheet should always be completed by two people to ensure accountability and prevent errors or fraud. Both individuals should sign and date the sheet to confirm that the count was accurate and completed in good faith.
The PDF file available for download below, will help you to produce your own cash count sheets.
Cash Count Sheet Template Download
The cash count sheet is available for download in PDF format by following the link below.
In summary, a cash count sheet is a simple but important tool that helps businesses maintain accurate records of their cash transactions. By following the steps outlined above, businesses can ensure that their cash counts are accurate and reliable, which is essential for maintaining financial integrity and preventing fraud.
Users use this cash reconciliation sheet at their own risk. We make no warranty or representation as to its accuracy. Additionally we are covered by the terms of our legal disclaimer, which you are deemed to have read. This is an example of cash count form that you might use. It is purely illustrative. This is not intended to reflect general standards or targets for any particular company or sector. If you do spot a mistake in the cash count sheets, please let us know and we will try to fix it.
About the Author
Chartered accountant Michael Brown is the founder and CEO of Double Entry Bookkeeping. He has worked as an accountant and consultant for more than 25 years and has built financial models for all types of industries. He has been the CFO or controller of both small and medium sized companies and has run small businesses of his own. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University.