Start with the source record, date, owner, and amount relevant to cash receipt deposit cutoff. Record each item separately so timing and classification differences remain visible.
Cash receipt deposit cutoff
Separate bank deposits in transit from receipts already recorded.
Published · 8 minute read
The short answer
- Start with the source record, date, owner, and amount relevant to cash receipt deposit cutoff. Record each item separately so timing and classification differences remain visible.
- A bookkeeper can assemble the schedule, reconcile it to the ledger, and flag missing support. The owner, controller, or accountant keeps approval of exceptions, policy judgments, and decisions that change financial reporting.
- At close, label every difference as timing, missing evidence, duplicate, disputed item, or approved correction. Keep the supporting document and next action with the exception until a named reviewer resolves it.
Practical guidance
Keep the evidence connected
List deposit date, accounting date, remittance, and customer source. A receipt in the bank without a matching ledger record needs identification before it is treated as an ordinary collection.
Review the exception list
Tie the deposit listing to the reconciliation and leave the owner a dated list of unresolved items. Do not erase an in-transit item simply because the bank has cleared.
Questions owners ask
Who approves the final accounting decision?
The owner, controller, or CPA should approve entries, exceptions, policy judgments, and decisions that change financial reporting or business risk.