Companies invest in a variety of internal control measures to safeguard the company assets and ensure that financial reporting is accurate. Money is one of the liquid assets that the management of any company is interested in following up on a daily basis.

 Company management reviews all processes that involve cash handling and identifies the potential risks with those processes. One internal control used with cash handling involves the cash drawer opening.

The opening of the cash drawer provides a fundamental safeguard for onsite cash. The cashier keeps all the cash she’s responsible for in the drawer. The company implements specific controls on the cash drawer. These include requiring a password to open the cash drawer or limiting the cash drawer opening to transactions that require cash handling.

In the case of a point of sale system, the cash drawer is linked to the system in that the cash drawer opens only when a transaction is made.This is the best way to control the cash in an organization.

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