How to Cash Up

Introduction 

This guide explains how to record the Cash in Hand at the end of each day. This is a daily task and ensures that all cash on the premises is properly accounted for.

Assumptions 

All cash that has not been banked is included

Any cash transfers from another outlet have been entered in the relevant section(See related guide on Cash Transfers)

Any Cash Purchases are recorded in relevant section 

The Close Period Tolerances have been setup 

Where to find this 

Click FINANCE > CASH UP 

Step-by-step guide

Step 1. Click Cash in Hand

Cash Up Date : Select from the drop-down menu the correct date you are cashing up. If the Cash Up is done everyday you will be selecting the current day.

Bagged to Bank : Enter the value of the cash you bagged that will not be recounted, 

Cash: Enter the denominations of the cash you have in hand.

Cheques: Enter the value of the cheques banked 

Floats: Enter the float amount, this field will be pre-populated with the set amount for floats but can be changed.

Cash in Hand: The totals of the Cash in Hand will be shown in this field. If the cash amount is correct you will be showed a message saying the cash in hand is correct.

          If the Cash in Hand amount is different from the expected amount you will receive a message saying you have a shortfall or surplus and the amount you have a difference of.

The correct amount expected by the system is calculated as follows:

Last recorded Cash in Hand Value + Cash Sales + Credit Sales Deposits + Credit Sales Payments + Loader Cash - Local Cash Purchases Banking + Cash Transfers In- Cash Transfers out

NOTE : If you have  a Cash in Hand Tolerance levels defined in Close Period Rules you will get a prompt stopping from saving the Cash-Up

Related Guides

Banking 

Close Period Rules

Loader Cash