Balancing the till is an essential part of managing a cash register. Here's a step-by-step guide on how to do it:
1. Gather Your Materials
- Till: This is the cash register itself.
- Till Tape: This is the paper roll that records all transactions.
- Cash Drawer: This contains the money from the day's sales.
- Calculator: This is for double-checking your calculations.
- Balance Sheet: This is a document that lists all the expected cash and credit card transactions for the day.
2. Count the Cash
- Start with the largest denominations. Begin with the highest bills, like $100s, and work your way down.
- Count each denomination separately. Keep a running total for each denomination.
- Verify the totals against the till tape. The till tape will show the total amount of each denomination that should be in the drawer.
- Record any discrepancies. If there are any differences between the actual cash count and the till tape, note them down.
3. Calculate Credit Card Sales
- Review the credit card slips. Check the total amount of credit card sales for the day.
- Compare the credit card total to the balance sheet. The balance sheet should list the expected credit card sales.
- Record any discrepancies. If there are any differences, note them down.
4. Reconcile the Till
- Add up the cash count. This includes all denominations.
- Add the credit card sales total. This should be the total from the credit card slips.
- Compare the total to the balance sheet. The total should match the balance sheet's expected total.
- Adjust for any discrepancies. If there are any differences, investigate the cause and make the necessary adjustments.
5. Document the Balance
- Record the final balance. This is the total amount of money in the till after reconciliation.
- Sign and date the balance sheet. This confirms that the till has been balanced and reconciled.
6. Secure the Till
- Lock the cash drawer. This prevents any unauthorized access to the money.
- Store the till in a safe place. This ensures that the till is secure overnight.
By following these steps, you can ensure that your till is balanced accurately and efficiently.
