Many unit owners' associations (HOAs) still use a cash register. This is surprising because in this day and age of cashless payments, the cash register has no significant advantages.

The cash register is used to receive cash and make cash expenditures, which is important for businesses and other entities. However, cash transactions are at a minimum in the case of HOA and most payments can easily be made cashless. The cash register in HOA poses a risk of embezzlement, as physical control of the cash register is somewhat problematic.

By abolishing the cash desk, the HOA reduces the risk of embezzlement as the handling of the account is more complicated and transparent. False invoices or credit card withdrawals to the cash register are examples of how misuse can occur. A committee member's need to pay cash expenses can also be handled cashlessly from the account. The argument that a committee member does not have several thousand crowns to accept a cash on delivery is not valid - such large cash on delivery payments are rare. The argument about the long duration of the transfer between accounts does not hold water; the money has to be credited in the other bank within the next day, even immediately within one bank.

The rules for cash management in HOA do not differ from the rules for other accounting units. It is the responsibility of the treasurer to issue proper receipts and disbursement documents and to keep a cash book. Decisions on expenses, such as fuel expenses or recharge coupons, are not the responsibility of the treasurer, but of the unit owners' meeting, which approves the budget and its implementation. The rules should include what expenditures the committee can approve on its own. The committee can decide on movable items with a purchase price of up to CZK 10 000, unless the bylaws state otherwise. The treasurer is responsible for the proper maintenance of the cash book and for collecting the appropriate attachments to the vouchers. The cash balance must always correspond to the cash book.

In conclusion, the HOA does not need a cash register. Cashless payments are safer, more transparent and less risky.