This article will cover the different categories available throughout the Cash Management module. Click the links below to jump directly to the write-up for that category.
Depending on the country the module will be used, this allows you to configure one (or more in a future Release) currency.
To add a new currency, click Add Currency. From here, you can select from a list of currency types (A) and make the new currency the default (B). Once the ability to add more than one currency to a template has been developed, you will be able to apply a conversion rate (C). To reduce confusion for historical entries, currencies cannot be deleted. Instead, you have the ability to inactivate (D) them for future use. You also have the ability to add and configure denominations (E).
To add a denomination, click Add Denomination. When adding denominations, the Value field is required and must be unique while the Roll/Bundle Quantity field is optional.
In the event you attempt to enter a value that has already been used, you will receive an error.
Submitting a Paid In/Out entry allows store-level managers to account for activity that was not captured through the POS or associated with a Cashier. By configuring the Paid In/Out card in your template, you are able to control which accounts they can use and whether or not the activity is tracked by other areas of Cash Management.
By clicking Add Account you can add additional accounts. Simply add the Account Name (A), the Account Number (B), and leave an optional description (maximum is 150 characters) (C). Marking the account Active (D) will ensure it is an available option to select for store-level managers. Click Save and Exit and you’re done.
Cash Drawers allows you to specify how many drawers are in the store, and what the balance of them should be. The Cash Drawers card will display whether the balances are "static" (meaning there isn't any wiggle room for the individual stores) or "variable" on a per-store basis (A), what the drawer balance should be (B), and how many drawers are configured (C).
Setting up new drawers or editing existing ones is very simple - just complete the available fields and click SAVE.
Store Funds allow a designated amount of money to be set aside at each location for various activities. Examples of this could be that you might want to have a starting balance of $1000 in a “Petty Fund” so managers have some cash on hand in case their location runs out of an item before a vendor can replenish it and they need to run to a local grocery store.
The Store Funds card when creating/editing templates will display the Fund Name (A), the Starting Balance (B), whether or not the fun is eligible to be used to complete Paid In/Out transactions (this feature will be available in a future Release) (C), and the Status of the fund (D). Clicking the pencil icon (E) will allow you to edit a fund.
To create a new fund simply click Add Fund, add the Fund Name (A), the Starting Balance (B), mark if you want it eligible for Paid In/Out transactions (Available in a future Release) (C), and either leave its status as the defaulted Active, or toggle it to Inactive (D) and click Save and Exit.
As a corporate user, you are able to define how often your stores should count their safes and what the acceptable variance is. The Safe Counts card when working on your template displays the sequence in which it should be counted in the day (A), the name of the count (B), whether or not it’s a required task (C), if its acceptable variance is hidden from the store-level managers when the count is off (D), and what that variance threshold is (E). Clicking the pencil icon allows you to edit any of the counts (F).
The sequence field is important because it determines when each safe is counted. In the image above, the “Morning Count” needs to be completed before the “Evening Count” can be. To change the order in which the safes need to be counted, click Change Sequence and then click and drag the counts in the order you want them.
By clicking Add Count, you’re able to add an additional frequency. When adding or editing Counts, the card will display the following:
(A) The Count’s name
(B) Whether or not it is required before the next one can be completed
(C) Whether or not it is a Blind Count (Available in a future Release)
(D) The Variance Threshold
(E) Whether or not it has an Authorization Requirement
Reconciliations is directly tied to the Cash Drawers area of Cash Management, and it allows your store-level users to determine how much they owe the store out of the drawer they are responsible for. In other words, if we stick with the scenario we created in the Cash Drawers section above, we are starting our shift with $300 in our drawer. Let's say that we had a very slow day, and only had one customer. If that customer paid for his $10 meal with cash, our drawer would have $310 at the end of the shift, and we would owe the store $10. Obviously, the process is more complicated than that, but that's what Reconciliation is for!
The Reconciliation card is broken down by three tabs - General, Cash Count, and Reconciliation. In order to complete the latter two, you must first configure the General tab and click SAVE.
|The General tab houses the basic settings of Reconciliation. From here, you can set your Variance Threshold (A) and your Authorization Requirements (B). As mentioned with the other cards, the variance is the accepted amount a drawer can be off. With Authorization Requirements, you must select whether you want no, single, or dual authorizations in order to submit a completed drawer at the end of a shift. An example of a single authorization might just be the employee, while a dual could be the employee and a witness.|
|By toggling the "Deduct Starting Balance from Count" switch on, the starting amount of the drawer (in our example, it's $300) will be subtracted from the cash count entered at the end of the shift. When the toggle is off, the store-level user will see that there needs to be $300 in the drawer, but that number is not subtracted from the end count.|
The "Count by Denomination" toggle allows the store-level user to do just that. Instead of having to do the math of what 14 nickels plus 4 quarters is, when this is switched to on, the system automatically knows that it is $1.70.
When "Blind Count" is toggled on, the store-level user is not able to see what the expected amount of the drawer is. Additionally, you're able to select how many (1 - 5 or unlimited) times a user can recount their drawer.
Cash Count Tab
|The Cash Count tab allows you to define any custom entries that can be used when store-level users are closing out their shifts. Currently, only items that can be deposited (such as checks or other vouchers) can be created. In a future Release, items that wouldn't necessarily be deposited (such as coupons) will be available.|
|By clicking ADD COUNT, you are able to name the count anything you like, but again, any entry the store-level user provides will be added to the drawer at the end of the shift.|
|When you have more than one count saved, you're able to rearrange them by clicking CHANGE ORDER and clicking and dragging the counts.|
|The Reconciliation tab allows you to define what items need to be considered when determining how much is owed at the end of a shift based on your company's needs. In other words, different companies are configured differently with their point of sale (POS) systems. Sometimes a POS will deliver the Gross Sales as Sales before tax is added. With Reconciliation, you are able to list Sales Tax as an added operation along with Visa and American Express payments to determine how much cash is needed at the end of a shift.|
|The ADD ELEMENT button allows you to add new elements to consider while the CREATE GROUP button allows you to create a group so you can organize a collection of Elements within.|
|When adding or editing new Elements, you can name (A) your Elements whatever you want. The items listed in the Source dropdown (B) are whatever the POS supports, so this list could be different across multiple companies. The Operation dropdown (C) specifies whether the Element is added or subtracted from the total. Finally, you're able to mark if you want an Element to be editable by the store-level user.|
|When adding or editing new Groups, you can name (A) your Group whatever you want. Select the OPERATION dropdown (B) to select if the items within your Group will be added or subtracted. By selecting the ELEMENTS INCLUDED field (C), you'll be able to add previously-created Elements that aren't already assigned a group.|
Deposits allow you to specify how many deposits your stores are able to make a day. The default is unlimited, but you can limit a store to making 1 - 10 instead. Additionally, as with some of the other cards, you're able to configure your Authorization Requirements and whether or not you want to count by denomination or not.