The Till section of your account enables to manage your float (cash in your cash drawer) and track your cash movements.
In the Till tab of your account, you can perform three kind of actions :
|Cash in||Add cash to your till (aside from your sales payments) such as your cash float or additional money.|
|Cash out||Remove cash from your till (aside from change on cash payments) such as safe drops or store expenses.|
|Cash count||Compare the counted cash in the till to the expected cash, to check your cash amount and register a potential discrepancy.|
A cash book can be generated from these actions. The Cash book ('Accounting/Cash book') lists all your cash movements for accounting purposes.More information.
We recommend to proceed to a cash count at least daily (or multiple times a day if you receive large amount in cash).
At the top of the Till tab, you will find the expected cash section. This is the amount of cash in your cash drawer calculated from all your cash movements.
Cash in and cash takings on sales will increase your expected cash amount.
Cash out will decrease your expected cash amount.
Discrepancies found when you count cash will update your expected cash amount.
At the top of the Till tab, you will also find the sum of cash received since the last cash count. This amount is mentioned for information only.
At the bottom of the Till tab, you will find a list of all your cash movements for the current month. You can also select another month of activity.
When opening your account, you proceed to a cash in to add your cash float. This is the initial amount in your cash drawer to provide sufficient change to customers.
At the end of a period of sale (or end of day) :
1/ Proceed to a cash count in the Till tab. Open your cash-drawer and count up all the cash. Then calculate.
2/ If you find a discrepancy, check again your cash movements on the sales period and fix possible errors (ex : a wrong cash payment assigned to a sale). Then redo a cash count.
3/ Submit your cash count. If a discrepancy remains, your expected cash amount will be updated.
4/ Proceed to a cash out to remove extra funds in your till.
At the beginning of a period of sale, you will start with the same cash amount left in yout till at the end of the previous period.
In the till tab, it is the amount indicated in the Cash expected section.
If the last period of sale was checked by a different person, you can count the already-existing cash to ensure that the amount of cash is balanced.
To undo a cash action :
For a wrong cash in, proceed to a cash out for the same amount.
For a wrong cash out, proceed to a cash in for the same amount.
For a wrong cash count, proceed to another cash count and the difference calculated will balance the error.
If your physical count is less than your expected count, the difference can be explained by :
|A wrong payment type assigned to a sale||Go to the sale, then change the payment type in the Payment section.
If the sale day is already closed, you will need to cancel the sale (reverse sale) and recreate the sale on the current day.
|A store credit input error||Go to the customer form and cancel the wrong store credit line (add a reverse line) and retype the store credit input.|
|Inaccurate payment/change||Add a note to the cash count so your accountant can register an adjusting entry.|
|Tips||In counterpart of overpayments explained by tips, money can be withdrawn from the cash drawer. Notify it in the cash count note.|
|Theft||Quickly assess the amount stolen and intensify your cash counts.|
Except for the two first reasons, the difference will still be there but your expected cash will be updated when you submit the cash count.