KitchenSync's bank reconciliation team actively tracks each day's cash sales and deposits one week in arrears.
Every Friday, the team will deliver a reconciliation report indicating any discrepancies between cash collected, per the POS system, and cash deposited into your checking account.
To avoid discrepancies and to allow for more thorough reconciliations, CASH DEPOSITS MUST BE MADE AT LEAST ONCE PER WEEK. Our preference is that cash is deposited every Monday for the prior week.
When making trips to the bank, you should ALWAYS MAKE ONE DEPOSIT PER TRADING DAY. As an example, if you go to the bank on Monday with cash collected over the previous 7 days, you should make 7 separate deposits; one for each day's activity.
By separating the deposits by day, KitchenSync is able to easily match sales to deposit totals, accounting only for changes due to Paid Outs. Any other discrepancies are then easily tracked back to the day in which cash may have gone missing or unaccounted for.