Daily Cash-Up Sheet
A Daily Cash-Up Sheet is a record used to reconcile cash holdings with transaction records at the end of a business day. It ensures accounting accuracy and supports Australian Taxation Office (ATO) record-keeping requirements under the Income Tax Assessment Act 1997 and Australian accounting standards.
Reconcile your till and takings at the end of each trading day.
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About this Document
Reconcile your till and takings at the end of each trading day.
Key Facts
- Businesses must keep records of all cash transactions for five years under Division 287 of the Income Tax Assessment Act 1997.— Income Tax Assessment Act 1997
- Cash-up sheets assist in calculating the correct Goods and Services Tax (GST) payable to the ATO.— A New Tax System (Goods and Services Tax) Act 1999
- Proper cash reconciliation reduces the risk of internal theft and helps identify accounting discrepancies.— ASIC Regulatory Guide 78
- Employers must retain records of cash wages paid to employees for seven years under the Fair Work Regulations 2009.— Fair Work Regulations 2009
- Accurate cash handling procedures contribute to a safe workplace by reducing the risk of robbery.— Work Health and Safety Act 2011
Sources
Required Sections
Date and Staff Member
Trading date and who did the cash-up
Opening Float
How much cash was in the till at the start of the day
Payment Breakdown
Total takings split by payment method
Closing Count and Variance
Actual cash counted and any difference from expected
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This document is for informational purposes and serves as a general guide.