At the end of the year what does everybody do with the balances in the teller cash long and cash short general ledgers?
Thanks

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.

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

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.)