How much is the allowable cash shortage or overage?

Answer 1

The allowable cash shortage or overage typically varies by organization but is often set at a minimal amount, such as $5 to $10. This threshold is intended to account for minor discrepancies in cash handling without requiring extensive investigation. Any shortages or overages exceeding this amount usually necessitate documentation and review to ensure proper accounting practices are followed. Always refer to your specific organization's policies for precise limits.