Certified Revenue Cycle Representative (CRCR) Practice Exam

At the end of each shift, what must happen to cash, checks, and credit card transaction documents?

1. They must be secured in a locked drawer

2. They must be balanced

3. They must be deposited immediately

4. They must be counted and logged

The correct answer is: They must be balanced

Balancing cash, checks, and credit card transaction documents at the end of each shift is crucial for ensuring accurate financial records and accountability. This process involves comparing the total receipts from transactions against the amount of cash and other forms of payment collected during the shift. By balancing these amounts, discrepancies can be identified and addressed promptly, minimizing opportunities for errors or potential theft. In a revenue cycle management context, maintaining accurate financial records is fundamental for the organization's financial health and compliance with regulatory standards. This practice not only facilitates effective tracking of revenue but also helps in reconciling accounts and preparing for subsequent deposits and reports. While securing cash and documents in a locked drawer, depositing funds immediately, and counting and logging them are all important practices in financial management, these actions typically occur after balancing has taken place. Balancing is the foundational step that dictates how the subsequent steps will be handled.