In many businesses one of the most neglected financial items that is neglected is , balancing the cash register /till.
Stores should start the day with a float of money , designed so that you can give change to the customers.
During the day you may have to add in money during the day to the till when you are unable to give the correct change and customers will pay you for goods.
Coming out of the till will be payments to suppliers / eftpos cash outs and of course change.
Even though you can ring up all the above items people can do make mistakes and that is why we balance the cash register.
So to balance your cash register you record your float and the amount of money you have added to the float , this will give you subtotal one.
You then:
- Count the money in your till
- Get an EFTPOS total
- Add on any expenses you paid from the till
This will give you subtotal two.
Your sales for the day will then be subtotal two minus subtotal one
Compare this to your till read for the day and it will tell you whether you are short or over.
Remember your sales are subtotal two minus subtotal one not what is on the till read.
It is now up to you to find why the difference between the two figures.
We have attached a PDF with instructions for you to download Download Balancing A Cash Register Instructions
