Recording Checks Made Out to Cash
Anyone can cash checks made out to cash, and IRS agents look for them in audits. To protect your firm:
- Organize all cash register slips, gas slips and invoices that the check will be payment for.
- Run an adding machine tape for the total amount.
- Staple the tape, slips and invoices together.
- Enter check no., amount and date on a sheet of paper.
- File in a folder marked with the check number.
Now you have the documentation if you are audited.
