Balancing your cash drawer

Having problems balancing your cash drawer or getting a warning message?

Remember this simple formula for balancing.

Cash at the start of the day + Cash added to drawer during the day - Cash taken out of the drawer during the day = Balance at the end of the day.

Cash at the start of the day

This is also known as the float and should be the same every day. If you are having balancing problems this is the first place to check. At the start of a new day before any sales or transactions have gone through, count all the cash in the drawer and make sure it matches the float. The float can be configured in Settings, Manage Locations under the Business Setup section. Adjust the float in the settings to what you want it to be and it will automatically carry over to the banking screen. Something like $150 for a business that does a few hundred in sales during the day should be enough. 

                          

Cash added to drawer during the day

This almost always means cash or cheque sales that are performed during the course of the day. Logically the amount in the cash drawer will now be what you had at the start plus those cash sales. If you record a sale under the wrong payment method, for example it was Credit Card and you recorded it as Cash it could cause an incorrect balance.

Cash taken out of the drawer during the day

Assuming the float at the start of the day was correct any errors that occur can only be with cash that is taken out. The banking screen has fields to record all this information.

Less Cash Out. Some businesses allow clients to get 'cash out' when making a payment. This should be recorded as a No Sale in the sales screen and will automatically be tallied in the Less Cash Out field in banking. You could also record any other cash taken from the drawer during the day like Petty Cash.

Less Tips and Commissions Paid Out. If you pay out your staff tips or commissions from the cash drawer you should enter the total amount here before counting the cash.

Safe Deposit. If you take out cash that is transferred to the safe rather than banked straight away you should enter the amount deposited here.

These are the only reasons money should be taken from the cash drawer. Taking any other amount will result in the cash drawer not balancing. 

Counting the cash at the end of the day

The final step is to count the cash drawer amounts. First thing to do is tick all the receipts at the bottom of the screen, these are all the sales performed in the period from when you last did the banking until now. Using all the fields you have previously entered the Cash Out amounts in, by ticking the receipts it will total up the Banked Amount field. You should not normally need to change the Banked Amount field.

Now you can go through all the notes and coins in your cash drawer and enter the values in the fields under Cash drawer amounts.

Once you have done this everything should be complete and balance. It is important to make sure you take the cash corresponding to the amount Cash & Cheques to be deposited out of the drawer now. That will make sure the still is back to the float amount for the next morning. Failure to take this out of the drawer will mean it won't balance the next day.

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