You should keep a consistent amount of money in your register at the start of each day or shift, such as $100. Once you have your POS report handy, it’s time to count your cash. Get the POS reportīefore you begin balancing your cash drawer and accounting for any incoming cash flow, you need to print or access a POS report that details how much you should have in your till.Ī POS report will break down totals by category, like cash, checks, and credit card transactions. Regardless of how small or large your business is, here are four steps to get you on the right foot when it comes to balancing your cash drawer. Or, a smaller business might only have one cash drawer to count. For example, a bigger business might need to make multiple deposits during the day. When it comes to balancing your cash drawer, your steps might differ from another business’s. Balancing on a daily basis helps reduce the pain of tracking down cash drawer discrepancies. That way, you can quickly (and easily) make corrections if something doesn’t add up.Ĭorrecting something from a few days, a week, or even weeks ago can be time-consuming and complex because you need to go back and check each day individually for errors. To keep your books as accurate as possible, you should balance your till every day or after every shift. How often should you balance a cash drawer? That way, you have trusted employees working with your incoming cash versus multiple individuals.īusinesses that are typically responsible for balancing a cash drawer include: It’s best if you assign designated employees or managers to balance the cash drawer. Transactions not only include cash and checks, but also credit card payments and tips (if applicable). Your cash drawer, also called a register or till, stores cash, coins, checks, and other valuable items (e.g., coupons) at the point-of-sale (POS).Īt the end of each day, shift, or period, you must balance your cash drawer to account for all incoming transactions. What is a cash drawer?īefore you delve into how to balance a cash drawer, you need to learn a little background information about it. Read on to learn how to balance your cash drawer as well as tips and tricks to keep your drawer in shipshape. If you’re struggling to balance your cash drawer, you’re not alone. Just like brushing your teeth, you should also be balancing your cash register drawer daily. Balancing your cash drawer is an essential part of your business’s daily routine.
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