Certified Revenue Cycle Representative (CRCR) Practice Exam

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

1. They must be filed away

2. They must be balanced

3. They must be destroyed

4. They must be handed over to the next shift

The correct answer is: They must be balanced

At the end of each shift, cash, checks, and credit card transaction documents must be balanced to ensure accuracy and accountability in financial reporting. Balancing these documents involves reconciling the amounts received against the sales recorded during that shift, which helps to identify any discrepancies or errors that may need to be addressed. This process is crucial because it maintains the integrity of the revenue cycle by ensuring that all transactions are accounted for correctly. Accurate balancing also helps to establish a clear audit trail, which is essential for financial audits, regulatory compliance, and internal controls. In contrast, while filing away documents can be part of the process, it does not ensure that the records are accurate. Destroying documents would be inappropriate as it would compromise the necessary record-keeping requirements. Handing over documents to the next shift is also part of operational procedures, but it should only occur after the documents have been properly balanced to maintain accurate records. Thus, balancing the cash, checks, and credit card transaction documents is the key step that safeguards the financial integrity of the organization.