Overview
The Cash Drawer feature within Tekmetric can be used to reconcile your cash and checks on hand at the end of the day in order to close out the day properly. This feature allows you to:
- Enter the opening balance for the day
- Track petty cash in and cash out for the day
- Close out the day, including:
- Making sure the cash count is correct
- Choosing how much cash you want to leave in the drawer
- Viewing the deposit total for the day
- Audit cash drawer history via reports
How can I give feedback to Tekmetric as I use the beta version of Cash Drawer?
Use this form to provide feedback directly to us!
Cash Drawer Permissions and Entry Point
You can choose which employees have access to the Cash Drawer feature within the Employee Permissions section of Tekmetric. There is a new Cash Drawer permission (located in between the Payments and Reports permissions) that controls whether or not the employee can use the Cash Drawer feature.
The Cash Drawer permission is ON by default for the Shop Owner and Shop Admin employee role types.
The Cash Drawer feature is located in Reports > Financial Reports. Even though the Cash Drawer feature is located in this section, an employee does NOT need Financial Report permissions to access the feature. You can just turn on the Cash Drawer permission and they'll be able to access it, even without the Financial Report permissions on.
Opening Drawer
When you navigate to the Cash Drawer, you'll be taken to the Active page. From this page you can open the drawer, add receipts, and close the drawer.
At the beginning of the day, this entire page will be disabled except for the Open Drawer option. You must open the drawer in order to begin using all cash drawer functionality.
When you select the Open Drawer option, the below modal will appear. You will be able to reference the previous day's ending balance, and you must enter in the starting balance for the current day. You can also provide a note if needed - this will be required if the balances do not match.
Once you open the drawer, you will see that the Cash In and Cash Out options are now enabled, and the Open Drawer option has changed to a Close Drawer option. You can now start using the Cash Drawer feature throughout the day.
Note: If you forget to close the drawer from the previous day, you will see a banner letting you know that you must do so before opening the new day's drawer.
Entering Receipts for the Day
You have the ability to enter in Cash In and Cash Out receipts within the Active Cash Drawer page. These receipts will appear in the table on the Active page with the most recent receipts displaying at the top. Only receipts for the current day's cash drawer will appear in this table. Other history is displayed in the History section (more on that below).
Cash In Receipts represent money coming into your drawer in the form of cash or checks. You can select between Cash and Check in the Type drop-down. The only other required field is the Total.
For the most part, the Cash In Receipt should be used to track anything coming into your drawer that is NOT automatically captured in Tekmetric already (see the FAQs section at the bottom of this page for a full list of what Tekmetric captures). However, it is recommended that for any return orders that are marked with a credit method of Cash or Check, you create a matching Cash In receipt within the Cash Drawer feature.
Cash Out represents cash that is leaving your cash drawer. All of these receipts will be considered cash (you cannot choose check as the type). Again, the only required field is Total.
The Cash Out Receipt should be used to track anything leaving your drawer that is NOT automatically captured in Tekmetric already (see the FAQs section at the bottom of this page for a full list of what Tekmetric captures).
Once you've entered receipts for the day, your table will look something like below. Cash out is represented in red with a negative value, while Cash in is positive and black.
Receipts can be edited as long as a few conditions are met:
- It's still the same day that the receipt was entered
- The drawer is not yet closed
- The person attempting to edit the receipt is the same person that entered the receipt originally
Closing the Drawer for the Day
Once you're ready to close the drawer for the day, you can select the Close Drawer option. When you do this, the first screen to appear will ask you to enter the quantity of all your coins and bills and the total value of any checks in your drawer.
In the next step, you'll be able to review the cash drawer report before submitting it and officially closing the drawer for the day. See below for an example of what this report looks like. Details on all line items are below.
Cash Section
-
Starting Cash Balance = Balance that you entered when opening the drawer for the day
-
Counted Cash on Hand = Total of cash counted in the previous step
-
Calculated Cash Transactions = Sum of Cash Paid In, Cash Paid Out, and Cash Drawer Receipts
-
Cash Paid In = Cash Payments taken on ROs, Counter Sales, and within Accounts Receivable
-
Cash Paid Out = Cash Refunds on ROs, Counter Sales, and Refund Invoices; Cash Payments in Accounts Payable
-
Cash Drawer Receipts = Net total of all cash receipts entered for the day
-
Cash Over/Short = Counted Cash on Hand - Starting Cash Balance - Calculated Cash Transactions
-
Ending Cash Balance = Manual Input. Enter the amount you want to leave in the drawer at the end of the day.
-
Total Cash Deposit = Counted Cash on Hand - Ending Cash Balance
Checks Section
-
Counted Checks on Hand = Total value of checks counted in previous step
-
Calculated Check Transactions = Sum of Checks Paid In and Checks from Drawer Receipts
-
Checks Paid In = Check Payments taken on ROs, Counter Sales, and within Accounts Receivable
-
Checks from Drawer Receipts = Net total of all check receipts entered for the day
-
Check Over/Short = Counted Checks on Hand - Calculated Check Transactions
-
Total Check Deposit = Sum of Counted Checks on Hand
Other
-
Cash and Check Deposit Total = Total Cash Deposit + Total Check Deposit
If Cash Over/Short or Check/Over Short is not equal to $0, then you are required to enter in a note in the form. Otherwise, the closing drawer note is optional.
Once the drawer is closed for the day, it cannot be re-opened. See below for what a closed drawer looks like.
Cash Drawer History
You can view a history of all your cash drawer reports by selecting History in the drop-down available in the upper right corner of the report. You'll be taken to a table that contains entries for all days that have cash drawer reports available.
You can drill down into a specific day's report and see the closing drawer report for the day, as well as all the receipts entered during that day.
FAQs
Will I have the ability to set up multiple drawers in one shop?
- No, at this time there is only one drawer available per shop per day.
Does the Cash Drawer integrate with Accounting Link?
- No, at this time there is no integration available with Accounting Link. The Tekmetric team is working on this as a "fast-follow."
What types of cash and check transactions in Tekmetric are automatically accounted for in the "Calculated Cash/Check Transactions" sections?
-
Cash Paid In: The following transaction types automatically flow into the Cash Paid In section of the Cash Drawer:
- Cash Payments taken on ROs, Counter Sales, and within Accounts Receivable
-
Cash Paid Out: The following transaction types automatically flow into the Cash Paid Out section of the Cash Drawer:
- Cash Refunds on ROs, Counter Sales, and Refund Invoices
- Cash Payments in Accounts Payable
- Cash Payments on Purchase Orders outside of Accounts Payable
- Sublets marked as paid with Cash within ROs (outside of Accounts Payable)
-
Checks Paid In: The following transaction types automatically flow into the Checks Paid In section of the Cash Drawer:
- Check Payments taken on ROs, Counter Sales, and within Accounts Receivable
Are there any types of cash and check transactions in Tekmetric that are not automatically accounted for in the "Calculated Cash/Check Transactions" sections?
- Yes, at this time, the following transactions in Tekmetric do not automatically flow into the Calculated Cash/Check Transactions section in the Cash Drawer.
- Return Orders marked with a credit method of Cash or Check
- When these transactions occur, you need to add in a matching Cash In receipt in the Active Cash Drawer section. The Tekmetric team is working on fixing this gap as a "fast-follow."