Is a Procedural documentation Is it really necessary to prepare for a cash register inspection? This article sets out the key points on how SMEs should effectively prepare for a cash register inspection.

New: Cash register inspection

Since the start of this year, tax officials have been using a new method to track down tax evasion in the cash-based sector: the Cash register inspection. Its purpose is to verify that records and entries relating to cash receipts and cash payments are in order. To this end, tax officials may enter business premises without prior notice in order to ascertain facts that may be relevant for tax purposes.

If the auditor uncovers any irregularities, an on-site audit may be initiated without a prior audit notice. Notice of the transition to an on-site audit will be given in writing. In the event of a till inspection, procedural documentation and other relevant records (cash book, till instructions), as well as the data entry log and the reports from the till system, should therefore always be readily available. The following points, amongst others, should be taken into account:

The scope of the health insurance fund audit

Invoices

This section records whether invoices (receipts) are issued and, if so, in what form. It also notes whether sequential numbers are used and whether the documentation is generated via an electronic till system. In the case of customer invoices, it is also recorded whether all essential details are present, such as whether the exact name of the company, sequential numbers and the exact date and time of the sale are stated.

Recovery of receivables

This accounts for the bulk of the till inspection: it covers, amongst other things, the type of till, the number of input terminals and whether the procedural documentation is in place. This is precisely where our software comes in to simplify processes.

Data Collection Log

It is also important to check whether, in addition to business transactions, the journal contains invoices, credit notes and cancellations. Furthermore, sequential numbers should be used, and it should be possible to identify the different till terminals in use. The following details are, of course, essential: the date and time, the product description and the total amount.

Cash management documentation

This is where the details are scrutinised: questions are asked about who is responsible for cash management, whether a daily cash count is carried out, whether each till or even wallet is counted and recorded individually, whether the actual cash balance is compared with the book balance, and, if not daily, at what intervals this is done.

Tools that help

A cash register inspection is not a pleasant experience and takes up a fair amount of time. Moreover, no business owner likes to have their affairs scrutinised. It is therefore becoming increasingly important to draw up procedural documentation before an inspection takes place. That is precisely why we have Opti.Tax.Docs and Opti.View developed.

Opti.View supports regular checks of the accounts as part of an internal control system. The results of the macro-assisted audits are transferred to Opti.Tax Doku via an interface and kept as an appendix to the procedural documentation.

Would you like to find out more about Opti.Tax.Doku? Contact us today for a Live demo.