11.3. Reconciling Your Drawer

Reconciling your drawer at the end of the day means looking at the Reconciliation Report and ensuring it matches the cash and checks you have in your drawer, and the credit card receipts you have on hand.

Balancing your cash and checks

1. Go to Accounting > Reports > Reconciliation
2. Note the date (it should be today’s date) and click Search button.
3. Here it’ll show how much you’ve taken in from all sources. Note the Cash and Check amounts.
4. Go to your cash drawer and tally up the cash and checks and make sure they match. If they do not, you’ll need to comb through each transaction to find the source of the error.

Balancing your credit card transactions

When you run a credit card in person for a transaction, you should keep the receipt (the yellow copy) as a slip in your cash drawer. This allows you to know exactly what has been charged. You can tally up these slips and make sure they tally up to what is in the reconciliation report.

Note: You’ll subtract deposits and all other transactions that were not in person.

Documenting

Print the reconciliation report and initial the cash, check and credit cards line item totals, once you’ve verified them. For credit cards, you can simply put a tick next to the ones you have a credit card slip for. Then three hole punch this report and put it in a three ring binder along with a copy of the deposit slip for the bank.