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[COMPLETED] End of Day Cash Reconcile


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#1 ericdionbaker

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Posted 09 November 2012 - 10:13 AM

Hello Lavu team - I started another thread about "End of Day Procedures (topic 529) which lead me to post for this feature request. Also, for perspective, we use this system to run a coffee shop.

I think it's important to point out that it *IS* a necessity to balance register cash on paper as a function of the POS System. That said, there is no option/ability to reconcile cash currently in the system, and I believe this should be a high-priority add. Currently, at least from my exploration of the system, there is no one report available, either on the front end or the back end, that gives you a complete cash picture or total (for the register). Neither the front-end "Register Summary" nor the back-end "End of Day" reports account for or even display Cash in/Cash Out, there is no allowance for an opening cash amount in the drawer, credit card tips (which become cash removed from the drawer) are not reconciled against cash totals, and there is no option to enter/record over/short amounts. I agree with other users in the thread that these are must-haves for any POS System, and as a new user of your system who has experience with other POS Systems, these are glaring omissions and should be high-priority adds to your app.

I would also recommend an "end-of-day cash worksheet" option that users could use to guide them through the end-of-day cash count and reconcile process.

So, the formal feature requests is:

1) A report on the front-end that allows me to balance the cash in my drawer. It should show cash sales, Credit Card tips (assumed to be paid out in cash), cash paid in, cash paid out, allow for opening cash, and allow for an over/short entry to result in a cash balance. The over/short should also be logged and displayed on a back-end report, and be a part of the End-of-Day report. It could look as simple as something like this:


Opening Cash: ____ +
Cash Sales: ____ +
Paid In: _____ -
CC Tips: _____ -
Paid Out: _____ =

EOD Total Cash: _____ -
Cash in Drawer: _____ =
Over/Short: _____

I would optionally like to see:

2) A Cash Tally worksheet you can print out from the register, that we can use to tally our cash & coin in the drawer. Bonus if there is a line item for cash not in the drawer (we keep a small amount of 1's and rolled coin available "in the back").

3) An "End of Day" cash worksheet, allowing me to total the cash in drawer (line items for denominations would make this nice), subtract opening cash, subtract cash sales, subtract cc tips, add cash Paid-In, subtract cash Paid-Out, and the remainder should be zero, but any balance would be your over short/amount.

4) You could extend the worksheet above to become a "daily deposit" report, showing cash and checks that should become that days bank deposit.

5) A method to enter and log over/short, similar to Paid In/Paid Out.

POS Lavu is already a solid choice for a POS system, and the addition of these features will take it to the next level Also, consider me available if someone would like to discuss this further or hear my experiences with other systems and how they handle end-of-day (ericdionbaker at gmail.com).

BTW - This is something that your competitors hold against you. Several other vendors are aware that this is a major weakness of your system and are certain to point it out.

Thank you for your time and for listening! It's nice to have this communication channel available!

EDB

#2 Guest_Sarah_*

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Posted 09 November 2012 - 12:19 PM

Eric,
Thank you for this insightful, well thought-out post! I really appreciate the detail you put in to it. I have also considered the need for a solid algorithm that users may be able to customize to get their end of day deposit amount. Just to clarify, would the end of day worksheet be something that prints out? Would you want it on a third report-type printable from the terminal, like Register and Server reports? If we have an area that you can track overages/shortages in actual cash on-had, would that be accessed from the control panel?

Thanks again!

#3 ericdionbaker

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Posted 09 November 2012 - 01:01 PM

Hi Sarah - Thanks for your quick response! To clarify - it would be very convenient to print out a form from the register that I can use to count my cash at the end of the night. This would just for counting cash, something like this:


Till Cash
_____ x $100 = $_______ +
_____ x $50 = $_______ +
_____ x $20 = $_______ +
_____ x $10 = $_______ +
_____ x $5 = $_______ +
_____ x $2 = $_______ +
_____ x $1 = $_______ =
Total Cash: $_______

Till Coin
_____ x $1 = $_______ +
_____ x $.50 = $_______ +
_____ x $.25 = $_______ +
_____ x $.10 = $_______ +
_____ x $.05 = $_______ +
_____ x $.01 = $_______ =
Total Coin: $_______

Total Till: $_______

Once I know the amount of cash I have on hand, I need to be able to reconcile the totals (Till cash, total cash sales, paid in/out, cc tips, etc) and determine my over/short. As far as I am concerned, this could be done on screen in the app, and the results can just print out, so i can put them in with the deposit bag at the end of the night. (Bonus if the print out could include the Check Sales amount, so I can use it to create the days deposit.) Somewhere at this point the over/short needs to be recorded in the system so it can show on the End of Day report (along with the paid in/out numbers), and will likley also spawn its own report.

In a previous POS System that I have used, you would do a similar process. Print out a register cash worksheet and count your cash & coin. Enter that on the "End of Shift" screen, which showed your relevant cash numbers (opening cash, cash sales, paid outs, tips), and you just entered the amount of cash in the drawer. It calculated the over/short, then recorded this information and printed out a "Z Report", which showed a summary of the days sales, all the tenders and amounts, and that you balanced at the end of the day. An example Z follows:



Sample Z Report

# of Transactions: 8,836
Ending Cash Total 20,001.73 (Cash Sales)
Tips on Credit Cards 1,221.76
Cash Received 18,375.36 (Actual Cash in Till)
Paidouts -519.78
Paid In 0.00
Over/short 115.17 (Calculated by the system)
Cash Deposit 18,375.36 (Cash in the bank bag going to the bank)

Checks Received 1,257.10
Checks Over/Short 0.00
Total Cash Deposit 19,632.46 (Cash + Checks, the amount on the deposit slip for the day)
Total Credit Card Dep 19,911.77
Visa 17,515.82
MC 2,395.95
American Express 1,658.13
Discover 0.00
Credit Card Paid In 0.00
Credit Card Overshort 0.00
Total Cash to Acct 41,202.36 (Cash + Checks + CC)

Gross Cash Sales 40,123.34
Coupon Received 596.93
Discount Applied 0.00
Free Drinks 623.55
Net Cash Sales 38,902.86 (Gross - Coupon - Discount - Free Drink)
Sales Tax on Cash Sales 2,715.78
Prepaid Received 12,605.95
Prepaid Redeemed 12,617.62
Paidouts -519.78
Paid In 0.00
Over/short 115.17
Total Cash to Account 41,202.36


Total Sales for Day 38,902.86 (Gross - Coupon - Discount - Free Drink)



HTH!

EDB

#4 Guest_Sarah_*

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Posted 09 November 2012 - 02:55 PM

Eric, this is an amazing example! I will make sure to reference it when I discuss reports with development/management. Thank you again for your time and effort!

#5 Shotski's

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Posted 09 November 2012 - 04:16 PM

Having this would be a huge improvement. Detailed reports like this are vitally important

#6 solacafe

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Posted 11 November 2012 - 06:19 PM

It would be helpful for this to be a checkout screen (in the backend-or even in the device) to close the tills each night (or shift). The totals entered would calculate the deposit compared to ACTUAL deposit then calculate over/short if done properly to include all of the (nicely detailed) numbers referred to above. Perhaps we could have a GRAND TOTAL printout that would serve as our bank deposit detail.

This is very important for keeping everyone honest and us aware of our daily cash receipts and deposits.

#7 ssrg2012

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Posted 13 November 2012 - 11:02 AM

Eric,

You are absolutley spot on wiht this request. There is not a user of the system that would not use this feature/functionality. I own an emerging chain of restaurants and the fact that POS Lavu doesnthave this is making me and my franchise owners crazy. I receive calls weekly about this and how difficult it is to reconcile the days business at the EOD.

POS LAvu, PLEASE add this to the system as soon as you can. It is not possible to run a restaurant effectively and efficiently without this one!

Eric, thank you for the time to communicate the need and the layout. It is awesome to have a network of users who can communicate the needs back to LAvu to make all of our jobs smoother!

#8 David Miles

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Posted 13 November 2012 - 12:53 PM

POS LAvu, PLEASE add this to the system as soon as you can. It is not possible to run a restaurant effectively and efficiently without this one!


Hello guys,

Thank you all for taking the time to post on our forums. We have submitted this, and are working to get it into a future update. This would make things so much easier for the end of day production. I will say this, we do have a Z report coming soon. It looks great from the testing I've done, and it will make tons of users happy. I appreciate all of your feedback.

David Miles
Lavu

#9 chtbigg

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Posted 14 November 2012 - 06:22 PM

I agree with all of the above this is VERY important to have. During my first conversation with my first potential customer, he asked about this. POSLavu rocks and if you add this feature you might even roll ;-)

Chet

#10 David Miles

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Posted 14 November 2012 - 06:29 PM

Hi Chet,

Thank you for your kind words. I think the POS Lavu rocks too, and that is completely unbiased jk :)

One thing that POS Lavu has that other point of sale solutions is that it is constantly evolving. Constantly becoming better. This is a feature that will help customer productivity, and we are dedicated to making improvements.

David Miles
Lavu

#11 chtbigg

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Posted 14 November 2012 - 06:39 PM

Yeah David it is strong in so many other ways but that's coming from the IT side of me. This is the future in POS systems and you guys will be a big part of it.

#12 David Miles

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Posted 14 November 2012 - 06:41 PM

Thanks Chet!

That means a lot. I'm definitely excited for the future of POS Lavu, and Lavu as a whole.

David Miles
Lavu

#13 Your Merchant Co.

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Posted 21 November 2012 - 04:58 AM

This function is must have and it must be soon! Glad to hear it's in the works. I cant begin to tell you how bummed out potential clients get when they find out a daily summary must be printed off a computer printer! It's as if I took their liquor license away or something....and thank you Eric for the great examples of EOD tactics.

Anyway chalk up another vote from me.

#14 David Miles

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Posted 21 November 2012 - 05:05 AM

This function is must have and it must be soon! Glad to hear it's in the works. I cant begin to tell you how bummed out potential clients get when they find out a daily summary must be printed off a computer printer! It's as if I took their liquor license away or something....and thank you Eric for the great examples of EOD tactics.


YourMerchantCo,

Thank you for posting on our forums. Per our discussion, I will resubmit this now and make sure that development is aware of this thread. I appreciate you taking the time to post on our online community. If you have any other questions or concerns, or ideas that would benefit our product, please post here.

David Miles
Lavu

#15 Your Merchant Co.

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Posted 27 November 2012 - 01:29 AM

All of a sudden I'm hearing from multiple Lavu locations that they are frustrated not being able to print the end of day report from the front end. Most locations with 3 or more stations are very let down about our current way of closing.

PLEASE move on this so we can continue to our Lavu growth!

#16 POSLavu.sg

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Posted 29 November 2012 - 09:18 PM

the End of the day report (from the reports backend) is different from the register summary, especially if you are on LLS.

Our business on LLS have been waiting for upto 1 hour before the 2 report tallies, this is causing some undue stress on the staff on the late shift and they often spend time on either manual computation of the daily numbers or sit around for an hour before the register report is correct.

#17 zinque

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Posted 30 November 2012 - 01:08 AM

I can only agree to all of this. This is a feature absolutely that is absolutely necessary in order to run our business properly.

#18 lucys.eastside

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Posted 04 December 2012 - 03:52 PM

as a new user i just wanted to also state that this is a MUST and i know its in the works but i am also a new user and is my biggest complaint so far.



#19 David Miles

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Posted 04 December 2012 - 11:53 PM

as a new user i just wanted to also state that this is a MUST and i know its in the works but i am also a new user and is my biggest complaint so far

 

 

Hi Lucyseastside, 

 

I understand where you're coming from. especially because of our private conversation. We are always beefing up the reports. That's a great thing about POS Lavu, because it is constantly improving and becoming better. Maybe you can I can talk about the reports over the phone sometime? I will be in the office all day tomorrow, and working graveyards over the weekend. If you have another time in mind, please let me know and I'll jump on the support line. 

 

David Miles 

Lavu 



#20 ericdionbaker

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Posted 16 January 2013 - 06:00 PM

Hi David, Sarah, and Lavu crew - Any updates on either of these enhancements - the till worksheet or end of day report?

 

Thanks!

 

eric






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