Bookkeeping for Money Service Business/Check Cashing Business and Money Order Sales
Can someone help me with the correct bookkeeping for a money service business that cash check and sale money orders on a daily basis? I have a potential new client that sales money orders and cash checks on a daily basis. I have never had a money service business client before so I would like to know the correct way to account for each transaction. A lot of cash is handled from and to the bank.