The Cashbox (cash movements) function in Holded allows you to record and manage all your cash transactions. Although nowadays many companies use digital payments or bank transfers, cash management is still relevant for certain businesses, such as physical stores, restaurants or any activity that handles cash income or expenses on a regular basis.
This functionality is designed to give you centralized control of your cash transactions, allowing you to:
Record cash income and expenses directly in Holded.
Perform daily cash closings, leaving an opening balance for the next business day.
Adding a cashbox (cash movements)
To add a box (cash) to Holded, follow the steps described here.
Adding an initial cash balance from an entry
In Holded, the most convenient way to add or remove balance in an accounting cashbox is by creating accounting entries. However, the cash balance must originate from a specific transaction (such as a collection from a customer or a cash withdrawal from a bank) or from the opening of the fiscal year itself.
The accounting entry in this case should only be used to reflect an actual cash movement. This ensures that all cash movements (such as adding or withdrawing cash) are properly recorded, thus maintaining financial traceability from an accounting perspective.
To enter opening cash balance from an accounting entry, follow these steps:
Go to Accounting > General ledger.
Click on New entry at the top right.
In the “Entry type" drop-down, select Record; and in “Default entry”, choose Default entry (both are selected by default).
Enter the Date of the entry.
In the first row, select the account associated with your cash box in the “Account” column. To find it quickly, use the search engine by typing the name of your cash box.
In the “Description” column, type a short description that identifies this entry. In the “Debit” column, enter the opening balance you wish to record in the cash box.
In the second row, select the account, 57000000 Cash, Euros in the “Account” column. In the “Credit” column, enter the same amount you added in the “Debit” column to avoid mismatches.
Click on Save.
This will complete the process of adding the opening balance to your accounting cash in Holded.
Daily cash closing
Depending on your activity, you may need to perform a daily cash closing, which is similar to the cash count, where the cash available at the end of the day is accounted for.
For example, if you work in a store and you start the day with a cash balance of 100 euros, throughout the day you will make sales and generate several tickets. At the end of the day, the total amount invoiced must match the cash on hand, minus the initial balance of 100 euros.
If at the end of the day you have 600 euros in the cash register, by subtracting the initial 100 euros, the remaining 500 euros must match the cash generated during the day. This operation is key to verify that the cash register is balanced, that the change has been given correctly, among other aspects.
Once everything is checked and confirmed, the next step is to leave the cashbox with the balance you want to start the next day with. To do this, you will need to record an accounting entry that discharges the cash balance in favor of a bank deposit. Here's how to do it:
Go to Accounting > General ledger.
Click on New entry at the top right.
Verify that the “Entry Type” is Closing Reg Entry, and under “Default Entry”, select Default Entry.
Enter the Closing Date.
In the first row, select the account 57000000 Cash, Euros in the “Account” column.
Write a short description, such as “Income”.
In the “Debit” column, enter the amount you want to transfer to the bank.
In the second row, select the account 57200000 Banks, Euros in the “Account” column. In the “Credit” column, enter the transferred amount again.
Click on Save.