A shop that closes properly each day rarely has a big problem at month end. This checklist takes ten to fifteen minutes and prevents most losses. Do it with the same person every day.
- Count the cash drawer and write the amount. Compare it with the expected cash from the day's sales.
- Check the difference. If it is not zero, find out why now. Waiting makes it harder.
- Separate the cash you will bank and keep a fixed float for tomorrow.
- Record bank and wallet receipts and match them with the day's transfers.
- Review returns and discounts. Look at who gave them and why.
- Check credit sales. Make sure each credit sale is written against the right customer.
- Record collections from credit customers received today.
- Look at low stock. Note what must be reordered tomorrow.
- Record purchases received with quantity and cost, and file the supplier's bill.
- Lock the day. Sign off the figures so later changes are visible.
Weekly additions
Once a week, do a stock count of a few fast-moving items, review the customers who owe the most and call them, and check what you owe suppliers.
Where software helps
A POS system produces most of these figures for you: expected cash, sales by method, returns, credit balances, low stock and purchases. Closing becomes a matter of counting the cash and checking one screen.
How SOS helps
Checkout, stock and cash that are always true, with the same books, people and rights as every other trade on SOS.
See SOS for retail shops