Daily settlement cash drawer
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      Daily settlement cash drawer

      Cash Register Reconciliation and Daily Settlement Introduction

      This guide provides step-by-step instructions for performing daily cash register reconciliation and settlement using reports, including how to utilize data from the X-Report. Follow these steps to ensure accuracy and proper handling of cash transactions.

      1. Daily Settlement Cash Drawer
      This section explains how to complete the daily cash settlement:
      Access Reports:
        • At the end of the day, navigate to Reports -> Daily Settlement in your system.
        • Print out the Daily Report (X-Report).
      Review Key Sections of the X-Report
        • Net Cash Sales: This shows the total cash received after discounts and refunds.
        • Net Amount in Drawer: Confirms the expected cash amount in the register.
        • Payment Methods: Summarizes cash, card, and other payment methods.
      2. How to Reconcile the Cash Register?
      To reconcile the cash register, follow these steps:
      Print the X-Report:
        • From the Daily Settlement section, print the report.
        • Locate the section labeled Cash Reconciliation at the bottom of the report.
      Open the Cash Drawer:
        • Navigate to Hardware -> Cash Drawer -> Open Cash Drawer.
        • Count the cash in the drawer and compare it to the Net Cash Sales amount on the X-Report.
      Investigate Discrepancies:
        • If the amounts do not match, review:
        • Refunds and discounts.
        • Withdrawals and deposits.


      3. Verify Cash Reconciliation
      Ensure that the cash in the drawer matches the expected amount. 


      From the X-Report, verify the following:

        • Net Cash Sales: Total cash received after adjustments (e.g., refunds).
        • Net Amount in Drawer: Cash expected in the register.
      Investigate Variances:
        • Use the report to trace discrepancies by reviewing:
        • Refund records.
        • Cash withdrawal entries.
      4. Handle Cash Withdrawal
      At the end of the day, excess cash should be withdrawn and documented:
      Count the Cash:
        • Count the total cash in the drawer.
        • Subtract the amount that should remain in the drawer as starting cash for the next day.
      Withdraw Excess Cash:
        • Navigate to Cash Drawer -> Withdrawal.
        • Enter the amount to withdraw.
      Record the Withdrawal:
        • Ensure the withdrawal is documented in the system and matches the Withdrawal section of the X-Report.
        • Place the withdrawn cash into a bank deposit bag for safekeeping.
      5. Document and Store Cash Deposits

      After withdrawal, prepare the cash for deposit:

      Bank Deposit Bag:

          • Place the withdrawn cash into a secure deposit bag.
          • Label the bag with the date and the total amount.
      Update Records
          • Record the deposit details in the system.
          • Verify that the withdrawal matches the Net Amount in Drawer on the X-Report.

      6. Summary and Reporting
      At the end of the process, ensure the following:
      Key Sections to Review on the X-Report:
        • Sales Breakdown by VAT Rates: Verify net and gross amounts.
        • Total Cash Sales: Confirm all cash transactions are accounted for.
        • Refunds, Discounts, and Tips: Ensure these match system records.
      Confirm Daily Totals:
        • Verify that all transactions, deposits, and withdrawals are documented and reconciled.
        • Cross-check the final cash amount with the expected balance in the X-Report.
      Store Documentation:
        • Keep a copy of the X-Report and bank deposit slips for future reference.
      Best Practices for Cash Register Reconciliation
      • Always count cash in a secure and monitored environment.
      • Double-check amounts during withdrawals and deposits.
      • Investigate any discrepancies immediately and document resolutions.
      • Keep the X-Report as part of your daily records for compliance and auditing purposes.

      For additional questions or assistance, refer to your internal support team or system administrator. For technical support or inquiries on how to reconcile the cash register, please consult your accountant or financial advisor.