Reconciling the Cash Drawer

Overview

Your cash drawer is an integral part of your daily counter operations; therefore, it is highly recommended that you review, reconcile, and balance your cash drawer every day.  Use the Cash Control Entry program to reconcile your cash drawer.  This program displays the total cash, checks, and credit card amounts taken for the day, and it provides you with access to multiple detailed inquiry screens to help you perform your reconciliation and balancing.

 

If you want data from the cash drawer to post to the general ledger, use control record RAMNO2 to set the Cash Control option to 3.

 

Start your daily reconciliation by reconciling cash.  Then reconcile all of the checks you received, and finally, reconcile credit card transactions.

 

Reconciling Cash

When you first enter the Cash Control Entry program at the end of the day, it will display as "Not in Balance."  One of the reasons the drawer is not in balance is because you have not yet entered your total cash (currency) for the day into the program, so the system does not see cash in the drawer and it calculates that you are short for at least the amount that should remain in the drawer for the next day (displayed in the Next Day Drawer field).

 

Follow these steps to reconcile your cash for the day:

 

  1. Count all of the currency in the drawer and separate it by denomination.

  2. Press F20=Currency (Shift +F8) and enter the totals for each denomination.

 

Reconciling Checks

You might receive checks from customers for different reasons throughout the day.  Some checks are to pay for sales items; some are for deposits on a rental contract; and others are from charge customers paying against their account (ROA payments).  You can record the ROA payment checks separately from the other two types by setting the Break out ROA amounts field to Y in the RACS3T control record.  This adds the Total ROA Checks field to the Cash Control screen.

 

Follow these steps to reconcile your checks for the day:

 

  1. Total the amounts from all of the checks in the cash drawer.  If you are breaking out ROA amounts, total those checks separately.

  2. Enter the total of the checks for ROA payments in the Total ROA Checks field.  Enter the total of all other checks in the Total Checks field.  If you are not separating checks for ROA amounts, enter the total for all checks in the Total Checks field.

 

Reconciling Credit Cards

Customers might also use credit cards for a variety of reasons such as, making payments on their account, paying for sales items, and making a deposit on a rental contract.  You can record the receipt on account (ROA) payments by credit card separately from the other two types by setting the Break out ROA amounts field to Y in the RACS3T control record.  This adds ROA amount fields to the Amounts by Credit Card popup window accessed by pressing F21 in the Cash Control screen.

 

However, if the Protect credit card field in control record RACS32 is set to Y, the Amount fields are protected and view-only in the F21 window, and they display the amounts that were automatically posted to the cash drawer for the credit cards.

 

Follow these steps to reconcile your credit cards for the day:

 

  1. If the Protect credit card field in control record RACS32 is set to Y, just confirm that the amount in the Total Credit Card field on the Cash Control screen equals the amount from the cash out report from your credit card machine.

  2. If the Protect credit card field in control record RACS32 is set to N, first total all of your credit card transactions by card type (such as Visa, Mastercard, and so on).

  3. Press F21 (Shift + F9) and enter each card total, breaking out the ROA payments if applicable.

 

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Balancing the Cash Drawer

After reconciling currency, checks, and credit cards, if the drawer does not balance, use the following function keys to review transactions for the day and determine where an error may have occurred:

 

 

Follow these steps to balance the cash drawer:

 

 

Your accounting department may allow for an overage or underage on your cash drawer each day, which means that you do not have to balance completely before completing the bank deposit and closing the drawer for the day.  The permitted overage/underage is set in the Max Overage/Underage field in the RACS3T control record.  If the drawer is within this specified tolerance, you must press F22 to enter reason codes for the overage or underage before you can complete the deposit and close the cash drawer.

 

If the overage or underage for the day is greater than the permitted level, you cannot close the cash drawer.

 

Posting the Cash Drawer

Once the cash drawer is balanced, you can enter the completion of the deposit and post to the general ledger, if you are using that functionality.

 

If you do not want the cash drawer to be posted the same day that it is balanced, set the Allow same day posting field to N in control record RACS3T.

 

When you are ready to complete the deposit, enter Y in the Deposit Complete field on the last screen of the Cash Control Entry program.  This indicates that the deposit was taken to the bank.  If the Cash Control option is set to 3 in control record RAMNO2, completing the deposit also posts transactions to the general ledger.

 

If you are not ready to complete the deposit, enter your password, but enter N in the Deposit Complete field and press Enter to save all of your entries.  You can return to the Cash Control Entry program later and complete the deposit.

 

Related Topics

Customer ROA Payment Entry

Update Deposit

Credit Card Authorization

Split Payment Entry

 

Reconciling the Cash Drawer troubleshooting guide

 

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