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cash question

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  • 25-03-2006 3:17pm
    #1
    thetourist
    Registered Users Posts: 469 ✭✭


    can i take cash that i've received as payment and use it to buy stock etc or do i have to lodge it to the bank first and then write a cheque or make a withdrawal etc.


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    #2
    Marathon_Man
    Closed Accounts Posts: 111 ✭✭Marathon_Man


    Why don't you ask whoever you want to buy the stock off if they accept cash!!!


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    #3
    kluivert
    Registered Users Posts: 2,399 ✭✭✭kluivert


    thetourist wrote:
    i have to lodge it to the bank first and then write a cheque or make a withdrawal etc.

    This is what you should do.


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    #4
    vector
    Registered Users Posts: 1,756 ✭✭✭vector


    I'm not sure if it it some legal requirement, but every type of office business I've worked for lodges everything to its bank acount individually, eg
    500 cash for item x
    250 cheque for item y
    even to the level of
    15 for item z

    all as individual lodgements, via individual pages of the lodgement book
    they all had arangements with the bank that lodgements wern't charged per lodgement but rather per euro


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    #5
    thetourist
    Registered Users Posts: 469 ✭✭thetourist


    it came up because i had just taken in a lot of cash after a day's work and in the evening i was getting someone to buy something for me next day and it would have been a lot easier if i could have just given them the cash from the takings rather than getting them to lodge the money and then taking it right back out again - but if that's the way everyone does it then what the heck
    thanks everyone


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    #6
    vector
    Registered Users Posts: 1,756 ✭✭✭vector


    newsagents can't be lodging EUR 0.68 x 50 for mars bars they sold in the day... hmmm, you should check it out with you accountant (if you have one)


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    #7
    thetourist
    Registered Users Posts: 469 ✭✭thetourist


    vector wrote:
    newsagents can't be lodging EUR 0.68 x 50 for mars bars they sold in the day... hmmm, you should check it out with you accountant (if you have one)

    no - im sure a newsagent would just put the day's takings into bags etc and lodge the lot at the end of the day or week !

    my question is to do with whether or not they can pay for things out of the till ! Are they legally entitled to take money out of the till to pay for something - or should they be keeping a petty cash box instead of using cash that's in the till which hasnt been lodged and withdrawn from the bank.


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