Cash desk (kase)
In Latvian: Kase
The cash desk (kase) is where an undertaking keeps its cash and the record of it. Cash paid in is called cash receipts and cash paid out is called cash payments, and both are recorded in the cash book.
The cash book is kept for every day with cash receipts or payments, showing the opening balance, the day totals and the closing balance. If average daily cash receipts in the previous month did not exceed EUR 500, it may be written up once a week.
Some need no cash book, for example an individual merchant on single entry who records cash in the income and expenses journal, or a business that registers cash in a till and pays the takings into its payment account as the head of the business has set out.
Businesses may not settle deals in cash above EUR 7,200, and cash deals above EUR 1,500 must be declared to the State Revenue Service by the 15th of the following month.
Example
The cash desk of SIA "Ozols", a repair shop, holds EUR 150 on the morning of 1 March. During the day it takes EUR 620 in cash and pays out EUR 80 for supplies, so the cash book shows a closing balance of EUR 690.
Legal basis
- Accounting Law, Section 14 likumi.lv
- Law on Taxes and Fees, Section 30 likumi.lv
- Latvian National Terminology Portal: kase termini.gov.lv
This explanation is for information and does not replace tax or legal advice. The law in its current consolidated text prevails.