Cash desk and cash payment limit: current rules

Cash payments come with more rules than it may seem at first glance. A properly kept cash desk and compliance with the cash payment limit protect a company from both sanctions and discrepancies during an inspection.

What cash records are for

The cash desk records the movement of cash in the company, i.e. cash receipts and cash expenditure. It gives you an overview of the actual cash balance at any time, which should match the balance in the accounts exactly.

Cash records are also a frequent subject of inspections, so they should always be in order and supported by documents.

Cash payment limit

The cash desk and the cash payment limit are closely related. The law restricts the amount up to which a payment can be made in cash. Above the set threshold, a bank transfer must be used, otherwise both parties face a sanction.

• the limit applies to a payment between the parties
• above the threshold, a non-cash payment is required
• the rules apply to entrepreneurs and individuals alike

How to keep the cash desk correctly

Support every cash movement with a cash receipt voucher or a cash disbursement voucher. Without a document, a transaction has no place in the cash desk.

The cash balance should never be negative; a negative balance is a clear sign of a missing document or an error in the records, which needs to be traced immediately.

• issue a document for every movement
• check the physical cash balance regularly
• prevent a negative balance by keeping records on an ongoing basis

Common mistakes

Typical mistakes include a negative cash balance, missing documents and splitting one payment into several smaller ones to get around the limit.

Such circumvention of the rules tends to be easy to detect during an inspection, and the company needlessly exposes itself to the risk of a fine.

Recommendation

Check the current amount of the limit and the specific conditions for the period in question, as they may change. Do not rely on older information that may no longer apply.

If in doubt about larger payments, opt for a bank transfer, which is traceable, safer and does not raise questions during an inspection.

Cash desk and eKasa

If you accept cash takings from customers, your cash records are closely linked to the obligation to record takings through an eKasa cash register. These are two areas that need to be kept consistent.

Takings recorded through eKasa must also be reflected in the cash records so that the cash balance matches. A mismatch between them tends to stand out during an inspection and raises further questions.

Practical tips for managing cash

Cash is a sensitive area, so it pays to introduce clear rules. Decide who has access to the cash desk and regularly compare the physical balance with the records.

• a clearly designated person responsible for the cash desk
• regular checks of the physical cash balance
• limiting cash payments in favour of transfers

Less cash in the company means less risk and less administration around cash vouchers.

Why the rules should not be forgotten

Cash transactions are often the subject of inspections precisely because mistakes and discrepancies occur more easily with them. Strict compliance with the rules on the cash desk and the cash payment limit therefore protects the company.

If you are unsure about a specific procedure, consult an accountant. Setting up your cash records properly is a simple step that will save you unnecessary complications and possible sanctions during an inspection. It is also worth keeping track of changes to the rules on an ongoing basis, as the amount of the cash payment limit may be adjusted over time.

Related articles: Accounting automation and AI: what it really brings to companies, Lease accounting: operating vs. finance, How to read a balance sheet and a profit and loss statement.

Frequently asked questions

Why must the cash desk never show a negative balance?

A negative cash balance means that the company paid out more cash than it had available, which is impossible in reality. It signals a missing cash receipt voucher or an error in the records and raises doubts during an inspection.

What are the consequences of exceeding the cash payment limit?

Paying above the set limit can result in a fine, usually for both parties to the payment. It is likewise prohibited to split one payment into several smaller ones to get around the limit. Check the current amount of the limit for the period in question.