TransActPOS - Help Center
×

Reconciliation

The Reconciliation Screen allows the user to count and enter the actual cash, checks, and credit card totals present within the cash drawer.  There are two ways to enter into the Reconciliation Screen.  At the end of the Close Shift process, the user is given the opportunity to begin the reconciliation process.  The user is not required to reconcile at this moment, but if time allows, the process can be completed at this time.
 
Reconciliation
 
 
If the reconciliation is not completed in the above step, the POS | Manager Screen will allow completion of the reconciliation.  Select POS | Manager and then select either Reconcile This (workstation you are currently on) or Reconcile Selected (this workstation and/or multiple workstations).  If you select Reconcile Selected, you will be able to check the shifts you wish to reconcile. These shifts are on all workstations in the system. Once you have selected the shifts to reconcile, click OK.
 
Note: Reconciling this way makes it more difficult to find the over and short than reconciling individual workstations.
 
Once the appropriate Z number has been selected to reconcile, the following screen appears.
Note: Some fields may or may not appear on this screen due to your accepted payments within Company Setup
 
The following process will allow a user to reconcile a drawer:
1. Enter into the Bill and Coins fields the actual value of each category of currency.  For example, count the $20's, enter the value of the $20's into the $20 field, i.e. 160.00.  These field totals from all bills and coins will automatically be totaled into the Cash | Actual field.
2. Total the value of all checks and enter this value into the Checks | Actual field.
3. Total each credit card type and enter this value into the appropriate actual field.
4. Total each debit card type and enter this value into the appropriate actual field.
5. Total all gift certificates and enter this value into the appropriate actual field.
6. Total all manufacturer coupons and enter this value into the appropriate actual field.
7. Total all paid outs and enter this value into the appropriate actual field.
8. Total all Paid to Customer and enter into the appropriate actual field.
9. Total all Complimentary Gift Card receipts and enter into the appropriate field.
 
  • Beginning Balance is the amount of cash placed in the drawer and recorded during the open drawer sequence.
  • Drawer Adjustment represents the total cash adjustments made during the day to the drawer.
  • Close Begin Balance is the new beginning balance based upon any drawer adjustments made during the shift.
  • Next Day Beg. Balance is the calculated value of the next day's beginning balance.  When the next shift is started, this value will be the default beginning balance which may be edited as required at that time.
Note: If you edit this field manually, you will show a negative amount for the GL account "Petty Cash" on your GL Distribution report.
  • Calculated Ending Balance is the value of all receipts that the system expects to be in the drawer during the reconciliation.
  • Actual Ending Balance is the value of all receipts found within the drawer.  This will be equal to the total of the actual posting you have entered while counting the drawer.
  • Over / Short is the difference between the calculated and actual ending balances. It is automatically updated as the actual postings are entered in the reconciliation screen.  
 
As you enter the values for each field, a green check box will appear if the values match. It you have a red x on the screen, you will want to verify the amount to correctly reconcile the payments.
When all actual values are posted and the entire drawer counted, the Over / Short value will be correct.  If the value is positive, the drawer contains that amount over the expected value.  If this value is negative, the drawer is short that amount of cash receipts (Cash, check, credit card, and manufacturer coupon).  If the value of zero, both the calculated and actual amount matches and the drawer is balanced.  If it is not balanced, the system will automatically create the appropriate journal entry as indicated by the Over / Short account within the system setup.
Note: If the clerk does not appropriately categorize receipts, the total of the drawer will balance but the categorization would be incorrect.  If a check was posted as a cash posting, cash will appear over and checks will be short.  
 
Select OK to continue to the summary screen where the user can enter the Deposit Ticket #.  Select Proceed to complete the reconciliation process.
 
 
  • Proceed will complete the reconciliation process with a prompt to select the appropriate printer to print the reconciliation report.  A prompt is included to reprint the reconciliation report if required.
  • Edit will return the user to the reconciliation screen to edit the actual values recorded.
  • Cancel will delete all the actual postings made into the reconciliation screen and then require the drawer to be reconciled later.  If the Reconciliation is canceled, the shift will remain closed.
 
The system will return to the main menu with the workstation status of Shift Closed.

Drawer Short by $20

 

Drawer Over by $20