Financial transactions for transparent cash movement

Having implemented a legal POS software with a strong software developer in the background (SAP Customer Checkout), it is only a logical step to ensure that all cash movements will be booked at the time they happen.

We often get the question „How do I open the cash drawer?“
and we recommend the answer „By selling or booking financial transactions“.
Why?
Because every cash movement must be due to transparency booked at the time they occur.

Financial transactions – Cash-In / Cash-Out

At the beginning of the shift, the cash drawer ist empty and the cash float has to be booked into SAP Customer Checkout, so throughout the day customers can get their change. In SAP Customer Checkout, a cash-in could look as follows:

Sometimes, when many cash payments are done, the cash drawer needs to be reduced and some money needs to be transferred into safe or bank account. In SAP Customer Checkout, a cash-out could look as follows:

In case of an integration into an ERP-system like SAP Business One for example, those transaction can be defined in CCO backend and the cash movement happens between petty cash account and master petty cash account. Even different accounts per currency are possible:

Financial transactions – Pay-Out/ Pay-In

The Cash-In and Cash-Out functionality is used for increasing oder reducing the cash float throughout the day. But there are more cash movements at Point of Sale: For example the trainee fills up the petrol of a fleet car or stamps need to be bought. In this case, the functionalities Pay-Out (when cash is given out before purchase from cash drawer) or Pay-In (when change is returned after purchase to cash drawer) are very helpful.

 

As the examples show, tax and account are predefined and will be sent to integrated ERP-system. In the backoffice, finance department can easily track purchase receipt and match the numbers.

Tips for Financial transactions and cash movements

In order to get the best out of those functionalities, it is best to examine the existing processes and find answers to the following questions:

• Is there an accessible key to the cash drawer? Who is in charge? Two-man rule existing?
• Is it possible to open cash drawer without booking? If yes, why?
•  Are all goods movements and cash movements booked in SAP Customer Checkout? If not, what needs to be changed? 100% marketing discount? theft?