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By establishing standards, utilizing effective accountingsoftware, digitizing invoices, and conducting regular data analysis, businesses can improve their OTC process and drive growth. An optimized OTC process improves cash flow, enhances customer satisfaction , and drives business growth.
Recording the starting cash amount in the drawer, itemized by bill and coin types. Closing out the cash register and listing all cashcollected, itemized similarly. Summarizing receipts by type (cash, check, coupon, credit cards) using cash and receipts present in the register.
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