Managing your Cash Drawer

If you accept cash from patients, you need a cash drawer and you need to know how to manage it.

We are still a few years away from a cashless society,

so your practice does accept some cash payments.

As such, you and your team need to know how to operate and reconcile your cash drawer. A standard set of procedures need to be established so that both cash collections and team members are properly accountable. If you keep a few things in mind, this should be a fairly simple task.

1) Each day should start with a standard amount of cash in the drawer. Patients paying with cash will need a small amount of change so $200.00 should cover your needs.

2) Make a single team member accountable for the cash drawer during each day. If multiple team members are accessing the drawer, it will be much more difficult to track any potential problems.

3) The Cash Drawer should be counted at the beginning and ending of each day to confirm balance and that correct change was given to patients. Feel free to use our Cash Drawer Reconciliation template for your office.

4) Count cash in a secluded area or after closing hours so it is away from the eyes of patients.

5) Ensure that the daily cash receipts match the cash receipts in your practice software. We handle this portion as part of of EOD services for our clients but it helps if you can deposit those cash deposits at the bank on at least a weekly basis.

**Please note that your Cash Drawer is separate from Petty Cash. The Cash Drawer is only for patient payments and change. Cash for miscellaneous office expenses should NEVER be taken from the Cash Drawer. We recommend using an office credit card rather than petty cash for small miscellaneous costs.

As always, please reach out if you have questions on a Cash Drawer or other practice management issues.