Cash Drawer Management – Cycle Counts, Reconcilation, Activation, and Closing

Cash Drawer Management enables a more secure and accountable method of tracking drawer activity in a retail POS system. In doing so we mitigate instances of theft and hold the right person accountable for their drawer should there be any mismatch.  Let’s take a quick look a how Counterpoint POS manages cash drawers.

It is imperative that the cash register is counted at the end of each shift or at the end of the day. This way, you can know exactly how much cash has been coming in and going out. If the amount of cash in the register does not match the number of sales, then you will know that there are discrepancies in your sales. This can help you address issues with your staff and possibly discontinue a poorly performing product or promotion.

Drawer Management

From a store level, you can (with the appropriate user permissions) view all stations and drawers, their status, events, and which user is or was utilizing it. This window allows you to perform all drawer functions and activities from one window, such as activation, cash drops and loans, drawer counts, reconciliation, and posting (end of shift deactivation).

When activating a drawer, the cashier may count and declare the current coins, rolls, and bills that when they start their session or shift. The same would be done during a drawer count after the end of their shift.

Count vs. Reconciliation

A count is typically performed by a cashier, which will determine if there is an overage or shortage (or in a perfect world, neither). A manager would then perform a reconciliation of the count to see if all tendered payments match what the cashier had entered.

Drawer Reading Report

A drawer reading report provides an overview of one or multiple drawer sessions at any given store location you have access to. The report gives a detailed overview of the drawer session(s).

Cash Drops and Cash Loans

If your cashier needs more change or you must take money out of the drawer, you can perform cash drops and cash loans. Both functions are typically available only to the store managers.

A cash drop is when you add money to the drawer, conversely, a cash loan is when you remove cash from a drawer.

Conclusion

As you can see, there isn’t any drawer-related activity that Counterpoint POS can’t handle. It’s important that cashiers and managers effectively coordinate their drawer activities as well-defined opening shift and closing shift tasks.

Want to see a demo of our system in action? Contact our consultants at 888.881.1988 or send us a quick email.

By POS Highway Staff | July 24th, 2023 | Point of Sale | 25 Comments
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