How do I cash up at the end of each day?

This article will show you how to close out your register/till at the end of each business day.

Cashing Up

Cashing up a till at the end of each day ensures that the cash on hand matches the recorded sales. This promotes financial accuracy and security by reducing the risk of errors or theft. It also aids in reconciling transactions, maintaining records for business performance, and preparing the cash float for the following day.

To begin cashing up, go to Manager > Cashup, and then click the date to begin cashing up.

On the next screen, you will see your Expected amounts. This is the amount you should expect to have for each of your payment types after accounting for any of the following from that day:

  • Sales and refunds
  • Sundries/petty cash
  • Your opening cash float for that day

 

Enter your Actual amounts for each payment type where there is an Expected amount displayed.

If you are using a PhorestPay Card Terminal, the Credit and Debit amounts will always display as $0.00. This is because your terminal is integrated with Phorest, which eliminates the need to account for discrepancies, as they are not possible.

Using the Cash Counter

To help make counting your cash easier, you can use the cash counter button.

The Cash Counter allows you to input the quantity of each note or coin in your cash drawer. It will then automatically calculate the total cash value.

The Balance

After entering all of your actual amounts, the total will be displayed as Balanced in green if there are no discrepancies.

If the Actual and Expected amounts differ, the total will be displayed in red, showing whether you are over or under.

PhorestPay Totals

When using PhorestPay and processing stored card sales through Cardless Checkout or regular card sales using your PhorestPay Card Terminal, the totals for these transactions will be shown.

You do not need to input actual versus expected amounts for either of these, as PhorestPay integrated payments eliminate the possibility of human error.

Noting Any Discrepancies

You can add notes to keep track of any reasons for discrepancies, special situations, or key details about the day’s sales.

These notes will be recorded on the cash up and can be viewed again in the future if needed.


Closing Bank/Float

Before completing your cash up, you can enter a Closing bank amount and/or a Cash to bank amount.

The Closing bank is the amount of cash you leave in your cash drawer (this will automatically be your Opening bank for the next day).

The Cash to bank is the amount of cash you remove from your cash drawer and bring to your bank/safe.

If you update one amount, the other amount will automatically be updated.


Your Cash Up Report

After completing your cash up, you can generate a cash up report by checking the box beside the date and clicking Print/Export.

Note: Online booking deposits and In-House deposits paid through PhorestPay are not counted towards the All Visits (#Of Clients) total in this report.

You can also use the Date Range button to generate a cash up report spanning multiple days.


Cashing up on PhorestGo

Click here for more information on how to cash up using PhorestGo.


Cashing Up Multiple Times in One Day

The regular Cash Up automatically runs from midnight to midnight (24 hours), so there is no need to stop it manually. 

If you wish to run multiple cash ups throughout your day, click here for information on how to use the Advanced Cash Up feature.

Was this article helpful?
56 out of 76 found this helpful