Specs
Eft Vs Cash specs
Setup notes and briefing numbers for Eft Vs Cash.
EFT and cash control points
Break the comparison into clear operating points. Set out record requirements, expected proof, reference handling, and the reconciliation differences between electronic transfers and cash deposits. South African teams should be able to use it as a practical checklist.
EFT and cash deposits create different evidence trails, and that changes how each payment should be logged. An EFT needs the payer name, transfer date, amount, bank used, and the exact reference expected on the statement. Cash needs teller proof, bag or slip details, branch location, and the staff handover record if money moved before banking.
For this comparison, the first check is whether finance can match the payment without phoning around. A proof of payment on its own is not enough when the reference is wrong or missing, while a cash slip still needs the linked sale, invoice, or cash-up total. Month-end problems usually start with one field left blank on the day the money moved.
Checklist output for reconciliations
Use the page as a side-by-side list of what must be captured for each rail before posting receipts. EFT entries should note standard transfer or immediate payment where relevant, because timing on South African bank statements can differ. Cash entries should show who counted, who banked, and which branch stamp or receipt number supports the amount.
When you compare methods, look closely at reference handling before anything else. EFT references should be short, consistent, and tied to an invoice or account number that your ledger can recognise later. Cash deposits need the deposit slip number recorded against the same customer line, and any query can be sent through the contact form.
- EFT reference matched to ledger
- Cash slip linked to cash-up
- Branch, date, and amount captured
Branch windows and proof rules
South African deposit timing is shaped by branch access, bank cut-off rules, and how quickly proof reaches the person doing recon. A transfer sent from FNB to Standard Bank may reflect differently from an internal same-bank payment, especially around weekends and public holidays. Cash also behaves differently by location, because some sites still rely on mall branches or business banking counters with fixed weekday patterns.
Load shedding and signal problems can delay screenshots, emailed proofs, or app confirmations even when the payer says the transfer is done. Physical deposits carry their own risk points, including late branch arrival, missing deposit stamps, or a slip that does not show the final amount clearly. The useful comparison is not only speed, but how reliably each method leaves an audit trail for your books.
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Information to gather before comparing
Bring the usual payment amounts, the banks most customers use, and the exact references you ask them to quote. Include examples of failed matches, split payments, and deposits that reached the bank without enough detail to allocate correctly.
File the bank proof with the cash-up sheet while the amount and reference are still visible on your records. That gives the bookkeeper one pack to check when an EFT receipt must be matched against a cash deposit slip or a branch stamped confirmation.