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Close Drawer for End of Day
This article discusses the manual End-of-Day process. This process allows you to balance your cash drawer and run various End of Day reports.
Topics included in this article
Prerequisites
All other terminals on the system must be closed. Termins must exit from any open POR windows.
Closing the Drawer
The drawer count is the reconciliation of what is in the cash drawer versus what the system thinks is in the cash drawer. It can be ran two ways:
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A cash drawer count is always prompted for at End of Day
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If desired, a cash drawer count can be taken at any time of the day
Counting the Drawer for End of Day
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Follow the path below for your product.
Expert: Program Menu > End of Day Processing > Close Drawer for End of Day
Elite: End of Day (Left Menu) > Close Drawer
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Point of Rental will ask if you want to close for the day. This window will include the dates and times of your most recent Last Close for Day and Last End of Month. This is your cue to add enough paper to your printer so that it won’t run out while printing the end-of-period reports. If you click 'No' for either question, you will be returned to your previous menu or dashboard.
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Next, enter your Operator ID and password.
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The following reports will print. Please note that each report can be turned off under the Reports tab of Parameters and Configuration > Reports and Notifications > Automatic Reports.
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Operator Detail Report - This report shows each contract that had money transacted and is sorted by operator name.
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Check & Credit Card Summary - This report details each check and credit card taken during the day’s transactions.
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Credit Card Detail Breakdown - This report only prints for systems with the Integrated Credit Card option. It shows the breakdown by Visa, MasterCard, American Express, and Discover.
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Contracts Posted to Totals Report - This report displays every contract that impacted the day's totals.
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- The final phase of the end of day procedure is cash drawer balancing. You will see the following screen:
Counting the Drawer Any Time
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This is accomplished by going to End of Day in the left menu and selecting Deposit Slip
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‘Count Drawer’ is the option in the top left of this screen that will open the drawer count window and allow for the input of values
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Using this option also allows for the system to be set up for Auto Close
| ℹ️ For more information, please see the article Drawer Count. |
Cash Drawer
Counted Drawer - Under this column, type in the amounts in your drawer for each payment type.
Computed Drawer - Every time money is taken, the system adds that to the totals of credit cards, debit cards, cash, and checks. The Computed Drawer is the total amount of each payment method that the counter people rang up during the day.
Note: The cash amount includes today’s cash amounts as well as the beginning cash drawer, which could include checks or other amounts from the previous night.
Difference - This column totals the difference between the Counted Drawer and the Computed Drawer.
Credit Cards - The default will be the number of contracts that were marked as credit card payments. The default will not be correct unless all contract payment methods were entered correctly. If it is not correct, simply type in the correct amount followed by the enter key.
Note: If your credit card amount was negative for the day, make sure you enter a negative amount (precede the amount with “-”). If you have the integrated credit card option, you will not be allowed to change this amount.
Debit Cards - The default will be the number of contracts that were marked as debit card payments. The default will not be correct unless all contract payment methods were entered correctly. If it is not correct, simply type in the correct amount followed by the enter key.
Note: If your debit card amount was negative for the day, make sure you enter a negative amount (precede the amount with “-”). If you have the integrated credit card option, you will not be allowed to change this amount. There is an option in Parameters to disable debit cards. If this is set to disabled, you will not be allowed to change this amount.
Cash - The default will be the sum of all transactions entered with cash as the payment method plus the beginning amount in the cash drawer.
Count - If you click the Count button, you will be allowed to enter the number of each denomination of coins and bills. The system will calculate the total of them for you and put that number under Cash. The screen will look as follows:
Count - If you click the Count button, you will be allowed to enter the number of each denomination of coins and bills. The system will calculate the total of them for you and put that number under Cash. The screen will look as follows:
Checks - The default will be the sum of monies on contracts that were marked with the check payment method.
Other - You can enter other amounts, such as IOU slips, unprocessed credit card slips, etc.
Deposit Checks - You can enter the number of Deposit Checks, or you can enter them under Checks. The beginning check amount for the next day will be equal to the amount entered in this field.
Show Possible Contracts - Clicking this button will show all contracts that are within 10% of the amount off. If your mistake was only in one contract, then that contract should be shown on the screen. Depending on the mistake, you can then make the changes necessary to correct it. If your mistake involves multiple contracts, then the offending contract would probably not be shown.
Note: This option will only be shown if your drawer doesn’t balance.
Top Menu Bar
Reports - The pull-down menu has the option of displaying the Operator Detail Report, Check and Credit Card Report, and Contracts Posted to Totals Report. These are the same reports that print normally at the start of the End of Day Process. If you have these turned off in Parameters or just want to view them on the screen, then select the desired report.
Display - The pull-down menu has the option to display the date, time, contract number, customer name, and the amount for each different payment method. This is useful if the drawer is not balanced and you want to see the transactions that made up the computed drawer.
1. When you finish counting your money in the drawer, click the OK button. If your drawer is over or short, you will be warned. Once you continue, the following screen will be displayed:
2. Now that you have counted all your money in the drawer, you must tell the computer what you are going to do with it. Normally you will withdraw some of the money in the drawer for a bank deposit and leave the rest for the next day’s starting cash. The best way to tell the system how much you are taking to the bank is by making a deposit slip.
3. Click on Deposit Slip and all the checks you took for the day will be displayed on the screen such as below:
Deposit All - This button will mark all the checks for the day as being deposited.
Un-deposit All - This button will unmark all the checks for the day as being deposited.
Add Check - This button will allow you to add a check that was not entered during the day.
Customer - Click on this column to change the customer’s name that is on the check.
Check # - Click on this column to change the check number.
Amount - Click on this column to change the amount of the check.
Deposit - Click on this column to toggle a check from being deposited to not being deposited.
Currency - Enter the total amount of currency that you are putting in the bank deposit.
Coins - Enter the total amount of coins that you are putting in the bank deposit.
4. Once all checks have been marked as deposited and the currency and coins have been entered, click on the OK button. You will be returned to the Deposit Amount screen and the total amount of the bank deposit will be entered in the Bank Deposit field.
5. If you didn’t make a deposit slip, you may enter the total amount of your deposit. If you try to override the bank deposit amount after you have made a deposit slip, you will be warned and your deposit slip will be deleted.
6. If you didn’t make a deposit slip and you didn’t enter a deposit amount, you can enter the carryover amount, and the deposit amount will be computed for you. If you enter an amount for the carryover and you previously entered a deposit slip, you will be warned and your deposit slip will be deleted. If you always start your drawer with the same amount, you can define a default Carry Over Cash amount in Parameters.
7. Once everything is correct, click the OK button on the Deposit Amount screen. If you need to recount, click on the Cancel button and you will be returned to the Cash Drawer Balancing screen to make these changes.
8. The close for the end of the day is now complete. Some of these reports can be turned off by selecting the relevant option under the Reports Tab in Parameters. The following reports will print:
Deposit Slip - If you made a deposit slip, the deposit slip will print out one copy on the receipt printer and one copy on the End of Day printer.
Reservations Report - This report will print all the reservations for the next assigned number of days. The number of days to report is set in Parameters. If this number is set to 0 then the report is not printed, but it can be printed on-demand from the Reservation Report Menu.
Delivery Report - This report will print all the deliveries for the next assigned number of days. See Reservation Report for details.
Pickup Report - This report will print all the pickups for the next assigned number of days. See Reservations Report for details.
Unpaid Contracts - This report lists all the contracts that are currently not paid in full.
Overdue Items - This report shows all the items that are currently overdue.
Reservation No-Shows - This report shows all the Reservation No-shows through today.
Open Items - This report shows all the items that are currently out on rent.
Work Orders Due - This report lists all the Work Orders that are due through tomorrow.
Register Summary - This report will print all the details such as counted cash, checks, cards, etc.
Summary of Totals - This report will print the totals for the day, week, month, quarter, and year. Depending upon the parameter settings, only the current period totals may be printed or not printed at all. The report is based upon the income accounting method you selected in the Parameters.
Receivables Summary - This section will print the current sum of both cash customers and charge account receivables as well as any money in the “suspense” fund.
General Ledger Entries - This report is printed for the general ledger. Depending on your accounting software, an importable file, which you can import into your software, may be created. This report can be held from print under Parameters.
Category Income Report - This report will print the daily income broken down by Item Category.
9. If today is not the end of a monthly, quarterly, or yearly period, the program will end now. For multi-store systems, Store #1 will automatically wait until all the other stores have finished closing.
10. If today is the end of an accounting period, another program will be activated to print additional reports. Most of these reports can be set to print daily, weekly, monthly, yearly, or not at all under the Reports tab of Parameters. These reports are:
Account Summary - This report lists all the contracts that customers owe along with their age dates. This report can be printed for Account Customers, Cash Customers, or both.
Item Income Summary - This report lists the item category income for the month, year, and lifetime.
Item Income Detailed - This report lists each item and its income for the month, year, and lifetime and is sub-totaled by item category.
Cost of Goods Sold - This report lists each sales item sold during the month and the cost of those sales. This report is used to report your decrease in inventory.
Inventory Value Report - This report lists your entire sales inventory and the extended cost of that inventory. This report is useful to print at the end of the fiscal year for accounting purposes.
Depreciation Report - This report lists your capitalized items with the extended cost, current depreciation, total depreciation, and current value.
Customer Income Report - This report is printed at the end of each year. The minimum income amount to report (in dollars) must have been previously set in Parameters. Please refer to Customer Reports for a description of this report.
Sold Rental Item Report - This report is printed at the end of each month. It lists all the rental items that were sold during the month. This report is accrual-based. In other words, this report is updated when a rental item is removed from your store for purchase regardless of whether the customer paid his bill.
Monthly Deposit Summary - This report lists each day’s bank deposit, credit cards, and debit cards for the month.
11. After the reports have been generated at the end of month or end of year, the appropriate fields in the item and customer records will be automatically zeroed out to prepare for the next reporting period.After all the reports are complete, you will be returned to the Program Menu.