One person cashes 4 checks (all individually less than $10,000) and walks out the door with more than $12,000. We have one cash out ticket.

Is this considered "multiple transactions" because more than one check was cashed or is it one transaction because there was only one cash out ticket and this transaction happed all at once?

We would treat it as one transaction; same applies when merchant presents multiple deposits on same visit.

Single transaction

If you can find it in your records a month from now as a single transaction, list it that way. If you can only find it as four separate cashed checks, list it as a multiple transaction.

We have always marked this as a multiple transaction on the CTR. If we needed to research the transaction after the fact it would let us know there was more than one item (check) involved in the amount listed on the CTR.