Cash has smells, reportedly (5)
I believe the answer is:
cents
'cash' is the definition.
'smells reportedly' is the wordplay.
'smells' becomes 'scents' (scent is a kind of smell).
'reportedly' indicates a 'sounds like' (homophone) clue.
'scents' is a homophone of 'CENTS'.
'has' acts as a link.
(Other definitions for cents that I've seen before include "Fractions of dollar" , "US money, e.g." , "American coins" , "Hundredths of dollar" , "money abroad" .)