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Four Ways of Safeguarding Cash

When you start your business you also start to gather assets. You must work out procedures to safeguard these assets.

You have money in the bank, stock of goods for sale, an office computer, chairs and other things you have bought.

If you are alone in the company it is fairly easy to safeguard your assets. When getting staff, customers and others entering your company your assets can wrongfully disappear.

The accounting system together with four different internal control procedures help you safeguard your assets:

  1. Delegated authority and separation of duties
  2. Reconciliation - check written records with reality
  3. Cash control
  4. Physical control


Wonder what your customer really wants? Ask. Don’t tell.
– Lisa Stone, BlogHer Co-Founder

Four Ways of Safeguarding Cash
Delegated Authority
Reconciliation
Cash Control
Physical Control
Stock Registration
What is Accountancy?
Principles in Accounting
Understand Financial Info
Safeguarding Your Assets
Help to Take Action
Close your Business