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Management of Cash

In financial management, management of cash can easily effect on your working capital optimization. If management of cash is not good, you will not succeed to manage your working capital. So, you should understand about the meaning of management of cash.

Meaning of management of cash

Cash is most liquid asset just like petrol. So, it is very easy that someone can take it from your control. Management of cash teaches us to control cash in such a way that

i) No one can take it without our permission.

ii) It is enough for operation of company.

iii) Better system of collection and payment of cash

Management of Cash is the function of treasury department of company. Following are main things which are required for proper management of cash:

1. Bank Reconciliation

These days, all business deals are completed with banks. Your so many cheques go to bank for collection and so many cheques are issued to other parties. But, you cash book does not match with your bank statements. For proper cash management, you should learn bank reconciliation. It means to take care the reasons of not matching cash book with bank statements. You can learn it at here.

2. Management of Online Cash

Your business may be fast online just like e-bay or Amazon. All these sites provide you secure payment section for buying products. But, their treasury department has to do hard work to manage online cash. All online cash is watched by treasury experts.

3. ATM Transfer

Even ATM transfer can be found from bank statements. But special care of ATM transfer will be helpful to your for better management. Company's officer may use ATM transfer for paying money to overseas employees. So, treasury audit officer should check whether it is issued to proper employee by proper authority.

4. Proper Transfer of Store or department cash

If there are large number of stores of your company, at that time, proper transfer of store cash to head office is very necessary. Only use single bank account for all stores is not good technique. Use different bank account for different store or department. When the transfer the money to that bank account, it can be tracked. After all different banks transfer to main bank account.


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Accounting Education: Management of Cash
Management of Cash
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