The software's Cash Drawer is a central link between the point-of-sale system and the integrated accounting system. It provides some of the key functions that negate the need for double data entry. The cash drawer is much like that of a physical cash drawer and should match the contents of one. As money is collected through sales and payments they are automatically recorded as an entry in the cash drawer under the correct method of payment. Certain paid out functions also affect the cash drawer. The end result at the end of the period should be a balanced cash drawer that has properly allocated all funds that have traversed in and out of it.
There are two facets to the software's Cash Drawer.
Under the Cash Drawer menu there are 3 transaction types.
Customer Payment On Account - Allows counter staff to receive payments at the counter without requiring full security access to accounts receivable.
Cash Paid Out - Records expenses paid out of the cash drawer, bank accounts, or credit card accounts. Can also be used for one-time supplier expenses.
Payment To Supplier - Allows for COD payments to be made to suppliers out of the Cash Drawer, Bank Accounts, or Credit Card Accounts.
Cash Balance Procedures are covered in the Daily Tasks Overview.