In: Accounting
Question How do businesses control cash receipts over the counter?
Step 1: Definition of cash receipt
Cash receipts are the receipt that records the cash that the company receives. These receipts are immediately sent to the bank after they are received.
Step 2: Businesses control cash receipt
Businesses control the cash receipts over the counter with the help of the point-of-sale terminal. A company records all the cash receipts in the cash register which helps in the cash receipts over-the-counter control. In this way, a company controls the cash receipts.
Cash receipts are controlled with the help of a point-of-sale terminal.