Do you doubt your staff not entering customer payments? Is your laundry & dry-cleaning business looking for a surefire till solution? We got you! Keep reading to find out how you can have a third eye on your cash flow step-by-step.
Importance of Balancing a Till
Traditionally, a balanced cash register was maintained wherein the cash flow was recorded. Even if the owner is not available, staff can report the cash flow coming in & going out of the business. This seems less trusted, however. The chances for stealing are also high unless you have loyal staff. As a business owner, you cannot be available all the time for collecting or returning cash to the customers. So, the need for a digital cash register arose, and here comes the expert – EPOS Till System.
Let’s see why it is important to balance a till, especially for laundry & dry cleaners.
Simply put, balancing a till keeps you safe from losing money & ensures your staff isn’t charging high to your customers in your absence. As a result, you can retain customers’ trust & span your loyal customer base.
How to cash up a till?
Here are a few steps that’ll help you learn how to balance a till with an EPOS.
The minimum requirement for cashing up your till is a till float. Whenever money is taken from the float and placed into the till, these are the steps to follow.
- Know your cash on hand at the start of the day:
Get your starting amount before balancing a till. It’ll help you determine the amount available in the till & where you require adjustments. You can easily make fixes wherever any imbalance/variance prevails instead of waiting until the end of the day which could be too late. The task is simple – count the cash available on hand & write it down. That’s how your day starts.
- Get started with larger denominations:
One easy way to count cash faster is to start with larger denominations & then work your way down. It makes it much simpler to track how much cash each drawer holds.
- Verify each drawer against the starting amount:
As you’re done counting cash in each drawer, start comparing the amount of money available against the amount you had at the start of the day. In case it mismatch, you may be missing out on some transactions from any of the previous days to be added to yesterday’s total. Our EPOS will generate a till report which can be printed instantly at the end of the day.
For instance, if a cash/card payment is made from petty cash to the car washer & employee forgets to make an entry, the system still holds records of how much money was available. Similarly, if any payment is received and the employee tries to be smart, the system knows the truth. All the transactions are available with a till report. Even if the employee denies or forgets, the laundry business owner can verify it with the day-end report. This makes it secure for laundry entrepreneurs to have an eagle eye on what their revenue is up to.
Our EPOS system has a feature named ‘Day End’ which can be accessed with the software. Employees are supposed to make compulsory cash declaration (CCD) as the day ends. They have to enter cash available in exact denominations. Once all the required sections are filled, the system will calculate & display the total till float. Hereby, laundry and dry-cleaning businesses can keep accurate records of daily cash flow. Another feature called standard day end is also available which is very accessible when the owner managing the shops. Just click the ‘Day End’ button with the EPOS & it’ll generate a copy.
- Learning to correct imbalances:
What if your drawer exceeds the starting amount? Maybe you haven’t taken out any transactions from yesterday’s total. It may signify any mistake during a refund or because of the items returned. One of the best ways for having balanced tills all the time is to assign this task to a specific employee. Let them handle the refund and return processing every day before you balance the till.
- Don’t wait for the shift to end:
Many employees think they’ll deposit cash at the end of the day. This leaves room for mistakes. Instruct your employees to deposit cash throughout the day as they receive or pay.
- Give it a physical count:
Finally, your employees should count all the cash and coins and it should be done precisely. This last part is very important for balancing a till.
Life-saver tip: In case you have multiple members operating a till, make sure they’re removed & only one person per drawer is allowed. This eliminates confusion and you know who will be responsible in case of mishap.
Kudos! You just discovered one of the best & effortless ways of cashing up a till. You also know how to cash up a till at the end of the day UK.
Manage your Money with the Most Accurate EPOS Till System
You cannot imagine a successful business without strategic financial management. should be stressful & time-consuming, said no one ever! Choosing the right EPOS system can make it easier for your laundry and dry-cleaning business. Other business tasks can be focused and you can spend time attending customers too.
Clean Touch EPOS by Axcess IT is a complete customizable software you definitely need for convenient business operations, accurate bookkeeping and accounting, reviewing inventory and sales, enhancing customer experiences, marketing, and so on. You may look further at how to use a till. It is a one-stop tool that’ll get things done. Let Axcess IT – Clean Touch EPOS manage your cash. Secure your business with our EPOS & keep achieving your business goals.
Below are the impressive features
- Understand customer behavior and create marketing campaigns accordingly
- Find ‘lost tickets’ easily with the customer details or order number
- Helps you frame price charts accurately as per the services you provide
- Allows payment gateway integration according to user convenience & preferences
- Makes business owners generate staff management reports that further assist in analyzing individual performance
- Gives entrepreneurs a better take on team management
- Engages entrepreneurs in vital business areas
- Secure EPOS is an assurance of safety. This also means you have to spy less with CCTV.
- You can now send billing details or print receipts to clients via Email
- SMS on order ready
- Can access Remotely from any corner of the world
Besides the above features, you get access to a unique feature with Clean Touch EPOS – Vein-reading security. It is the next-level biometric security feature used for high-level efficiency at your POS. Find out more on Vein Reading Security Feature here.