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#893784 - 01/25/08 04:52 PM General ledgers for cash long/short
Overboard Offline
100 Club
Joined: Aug 2007
Posts: 192
At the end of the year what does everybody do with the balances in the teller cash long and cash short general ledgers?

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General Discussion
#893797 - 01/25/08 05:00 PM Re: General ledgers for cash long/short Overboard
califgirl Offline
Diamond Poster
Joined: Mar 2002
Posts: 2,355
The O.C., California
All income and expense accounts are closed out to undivided profits at the end of the fiscal year.

If you wish to retain the information for purposes of tracking teller performance, you can certainly keep a separate record.
I can explain it to you. I can't understand it for you.

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#894753 - 01/28/08 05:23 PM Re: General ledgers for cash long/short califgirl
Al Miller Offline
Diamond Poster
Al Miller
Joined: Oct 2000
Posts: 2,416
Pleasanton CA USA
A separate record is necessary. The G/L will account for each 1, but you would ignore all amounts under the de minimus amount. Also, I would ignore whether over or short and track the total of errors, not the net (unless you are satisfied that the consecutive errors offset each other).

A teller with no reportable overs & shorts is much different than one over early in the review cycle who may pay out the overage late in the cycle to also show a net $0.00.

Al Miller, CRCM
Opinions expressed are my own and not necessarily shared by my employer.

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#895218 - 01/29/08 02:51 AM Re: General ledgers for cash long/short Al Miller
BBoyd Offline
Diamond Poster
Joined: Mar 2002
Posts: 2,494
We clear out the G/L accounts, but maintain records on the CSRs in the event of corrective action (i.e., CSR taking a $150 difference in December is put on corrective action. The G/L is zero'd out, but the amount still stays on his/her record until he/she's off corrective action.)
Opinions are mine and never to be taken as legal advice!

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