Closing The Register

Overview The Closing the store option is available when the Housekeeping-> General Setup-> System Setup-> Require registers/store to be closed? is enabled. Closing is the process of reconciling the monies transacted during the business. Use this feature to close individual registers/stores for a the current business day. ​ Entering this menu option will close the individual Register currently that the close is being performed from OR the entire store (controlled by a system setting) at the end of the business day. ​ The closing process is necessary so that the cash drawer(s) may be reconciled and the system can close out the accounting period for that business day.
The accounting date/period is not closed for Wthe store until ALL registers defined for that store are closed. The 'Closing the Store form displays all the recorded receipt transactions for a register / store. ​ The system displays the receipt transactions recorded throughout the day in the ProfitSystem Count column. The user will enter the actual count in the Drawer Count column. The system will calculate a variance between the ProfitSystem© Count and Dr awer Count and display any variance in the third column. The user must perform an actual count of the receipts. Any variances/discrepancies between the system totals and the actual count should be corrected before closing. If the variance can't be corrected the system will make note of it on the revenue repo rt. ​ The Revenue report is an accounting report and offers additional detail and compliments the Daily Register Report or Revenue Listing Report. A store may be re-opened on a business date that have been previously closed. When a business date is entered/accepted of a previously closed business the system presents an alert of the business date has been closed. A user may move about the ProfitSy stem system, but may not edit or create new financial transactions. HOWEVER, the store may be REOPENED for the business date by the user entering the Register functions menu and choosing Store Open.
​ To close the register/store

Enter appropriate Paid In or Paid Out amounts via those forms


Click on Store Close & start by the operator entering their sales associate ID in the Sales Associate field.


Perform a CASH tender count and enter the actual count the cash Drawer Count field. The Cash count bill/coin count aid may be used to help count the money and it's total is automatically entered.


Enter the cash Drawer End (the amount of cash remaining in the drawer)


The system displays the transactions recorded for the other non-cash tender types in the fields listed by each tender type  under Computer count.  Enter the drawer count for each.


Once all totals are satisfactory, press CLOSE STORE to close the register (set for next period's business) and print the Closing Reports.  Click on DAILY REGISTER REPORT to print a closing report.  Click CLOSE STORE to exit and return to the previous

menu.

The formulas utilized by the STORE CLOSE form are:

        +Paid Outs (show as negative number_


        + Drawer Count


        + Cash Count


        + Drawer End




        +Paid In/Petty Cash


        - Computer Count


        + Paid In/Petty Cash


        -  Drawer Start




        +POS Cash payment transactions


        - Drawer Start


        - Drawer End







        = Cash Computer Count


        = Over/Under


        = Cash Deposit


        = Extra Cash Held Out

Fields Security Deposits to be Reimbursed... This section is for stores who utilize security deposits. The section displays the anticipated security deposits to be reimbursed for the listed days. These totals are determined according to the return date of rent

al orders. It is an aid to determine the amount of cash to be withheld from the bank deposit (or to withdraw additional money) in order to make security deposit refunds.

Bill, coin count aid... The user simply counts the number of each bill or coin type and enter the counts in the appropriate field. The system will automatically multiply and total the values and insert the result into the Cash computer count field.

​ Paid In / Out... The system display the total paid in / outs as entered into the Paid In & Paid Out forms.

Drawer start... The is the Cash Drawer CASH balance as it was recorded the day before.

Computer count... This is the net total for each tender type as computed the ProfitSystem system.

Drawer count ... The actual manual physical count of the monies for each tender type.

Over/Under...The difference between the computer count and the manual drawer count. Obviously the goal is not to be under or over. When the store is under on the count, the system will require a comment to be entered by the user before the form may be

saved. ​ Drawer End... The ending Cash in the cash drawer after the deposit is made. This will become the next days starting cash.

Cash Deposit... The amount of cash being deposited in the bank.

Cash/Checks deposit... Total of cash and paper checks being deposited. Adds Cash deposit field and Checks drawer count.

e-Checks/Charge deposit...This represents the total 'Electronic Payment' totals shown by the software. E-Checks are checks process through a check verification service. The store may or may not have a copy of the check.

Closing notes... The operator may enter any type of comment to relating to this close. Notes are required for Over /Under conditions.

Buttons Close Store..This button finalizes the entered counts and totals, closes the store and resets for the next business day. Suspend Close... Begin entering totals then press this button to SAVE the edits and return to the previous form. The entered data is recalled and displayed the next time this form is displayed.

Cancel... Cancel any edits and return to previous form.

Daily Register Report... Print the Daily Register report. use as an aid in performing the counts for the close.