How often should bank deposits be made?

Making bank deposits daily, including weekends and holidays, is important for maintaining accurate financial records and ensuring the company's cash flow is secure. Frequent deposits help minimize the risk of loss from theft, mismanagement, or errors, as having large amounts of cash on hand can pose security risks. Additionally, daily deposits help in keeping cash balances lower, thus allowing for better financial management and potentially reducing costs associated with holding cash in the store.

This practice also ensures that the funds are available for operational expenses as soon as possible, allowing for smooth business operations and responsiveness to financial needs. It aligns with best practices for financial accountability and transparency within the organization, promoting trust in the management of funds.