At the end of each day, or shift, you'll probably want to reconcile your till to check that the cash and card payments processed match the actual cash and card payments received. This allows you to identify and correct any discrepancies early on.
Please note that EPOS till payment reports will display all payments for orders raised via that till or manually assigned to that till. If an order was raised somewhere else, for example, in back office but assigned to that till the payment will also be reported in EPOS. However, if an order is raised in back office for a different channel but actually paid via EPOS, this will not show on the EPOS payment report.
You will need to:
- Count the cash in the till and get a summary of card payments
- List the sales / refunds processed through EPOS
- Investigate discrepancies and make adjustments, post the balance to your bank account
Count the cash and print a card payment summary
You will need to know how much you actually took on card and in cash. So you'll need to count the contents of the till, remembering to take into account any cash float you started with or cash withdrawn from the till. You can also print a summary reading from your PDQ machine for total card payments.
It's a good idea to use a daily cash sheet on which you record how much you've taken each day and attach any PDQ summary print outs. Here's an example:
List the transactions processed in Brightpearl
To view your transactions list for a particular date, click the Payments link at the bottom of the screen.
Use the links at the top of the transactions list to print, change the date, view cash transactions only or card transactions only.
Hint : View cash or card transactions only to see the overall total (sales less refunds).
You can print this listing to keep along with your cash sheet and PDQ print out for your own records.
Investigate discrepancies, transfer the balance to your bank account and make any adjustments
If your actual cash and card payments don’t balance with the transactions that were processed through EPOS there’s not much that can be done now. It may highlight some training issues or maybe even theft.
You’ll only be physically deposit the actual cash and card payments you took into your bank account, so if you find any discrepancies you’ll need to make some adjustments in Brightpearl to account for under/over payments.
Since you’ve been recording all transactions through the cash and card nominal codes set against your EPOS sales channel you’ll need to do a transfer to move those takings into your main bank account. Any differences will need to be written off.
Let’s use the following as an example:
Cash takings = £352.47
Cash transactions = £357.12
Cash missing = £4.65
Card takings = £527.20
Card transactions = £527.20
£352.47 cash and £527.20 is deposited into the bank account.
The following journal is required in Brightpearl: