POS closing is done by the cashier in charge of a particular POS. Once all POS are closed and cash is handed over to the shop manager, the manager also needs to close the accounts and hand over the cash to the head office or deposit it in bank.
Store closing involves checking inflows and outflows of the particular time period that needs to be closed. It also requires balancing cash in hand with the system’s cash.
Store Closing is not just about keeping track of daily sales and returns. It also needs to take into account all expenses and receipts made during the time period that is being closed. This means store closing keeps track of the expenses like utility bills, supplier payments, entertainment or other miscellaneous expense.
To learn Store Closing follow the steps below:
Go to Store Closing screen by selecting Sale>Store Closing from the main menu
The screen will show total inflows , outflows and System Cash (difference between inflows and outflows)
Learn about Inflows and Outflows details here
Note: If it is the first closing the system will ask you to select a date. You need to to select the opening date less than the very first transaction date. If you select a greater opening date by mistake, there will be no impact of the previous transactions (before the entered opening date) on store closing.
Also Remember, once you have saved a store closing, all the transactions before the closing date will be locked and cannot be updated/deleted
Note: If your outflows are greater than inflows the System Cash will be in negative.
Note: At the time of first store closing, the Opening Balance by default will be zero
Enter cash in hand in Physical Cash field
If cash is being submitted to Bank or Head office , enter the amounts in relevant fields.
Total Cash Submitted field wills show total amount submitted
The difference in the total submitted cash and physical cash will become opening balance for the next closing.
The End of Day closing is complete, and all your transactions, including both inflows and outflows are saved in the system!