As the title suggests, how do you treat them? I need to input the sales through the till for the business, but what the owner has put down down as what the shop has taken is the takings less the till discrepancy. Now for VAT purposes I need to take what's off the Z report surely? and ignore the owners adjustments... or do I? If I don't then is it logged as a liability? I'm struggling to comprehend the owners take on it all and what he thinks (im sure im right!!) lol
I always put through the sales as per z reading into a customer account called ZTILL, I then pay off the account through various bank accounts and any discrepancies (always cash) show in a bank account, 1250 in my case.
I have a client that sends me the figures through each quarter so I don't actually see the readings- I always use the bad debt code for till discrepancies she tells me about
Because the till discrepancies are slightly more than a few pounds each month. The till readings in my clients case lists cheques, credit and debit card payments and cash payments. The cash payments never match the cash deposited in the bank....so where does it go? I did show the client an excel spreadsheet listing the difference each month between cash takings and cash deposited in the bank. As there was no explanation (just a shrug of the shoulders) I concluded that this was no different as using the business account to pay for personal items from the company, so I treat it the same way.
