As time goes by, recording financial transactions, which were previously done manually, is starting to be replaced by electronic devices such as computers and smartphones. With advances in technology, point of sale systems will help you easily recap cash flow business transactions. This makes all business management processes faster.
We cannot deny that almost everything is done online. Cash recaps are no exception. Cash recap is an activity to match the amount of cash recorded in the transaction records with physical cash. In the past, people did cash recaps manually by calculating how much product was left, how much income was recorded, how much expenditure occurred that day, then matching it with the amount of money left in the storage drawer.
With a manual method like this, the cash recap process can be very long and tiring. Juar Lizwardi, a Qasir user who opened a modern fried chicken franchise business, said that if he used the old method it would take him from 23.00 at night to 01.00 in the morning. Imagine if this had to be done every day. Very tiring, yes, of course. What's more, Juar still has to carry out his duties as an employee at a bank.
The hassle and headache that must be experienced when carrying out cash recaps is what makes most micro entrepreneurs or MSMEs reluctant to do it. They just trust their employees, their best-selling merchandise, and their money in their storage drawers, without further researching whether this amount of money is in line with what they should get.
In fact, just like recording sales transactions, cash recaps are also very important.
This is what you need to know why cash recaps are very important and should not be ignored.
Currently payment methods are not limited to cash and debit only. Mobile payment methods (digital payments) are becoming increasingly popular and need to be taken into account as well. Carrying out a cash recap means ensuring that all profits generated by your shop are monitored. This is important in providing a clear picture of where your business is financially. Even though you may have a lot of confidence and trust in your employees (maybe even view them as family), but still, it is important for businesses dealing with cash transactions to implement cash handling procedures.
This not only protects you as a business owner, but also your staff. The most important reason you need to balance cash recaps is to prevent shortages due to cash handling or theft.
There are several tips that Qasir suggests to make it easier for you to recap cash.
1. Implement One Person Per Shift If Possible
For micro and small businesses with only one cash register desk, this may not be possible, but limiting the number of people responsible for each login is ideal. The more people who have access to a drawer or even access to the key to a cash drawer at any given time, the more responsibility there is for the contents of that drawer. This also makes it difficult to determine who is responsible for mishandled or lost cash.
Unlike traditional cash registers, the Qasir POS system offers settings that can help monitor and determine which employees are making transactions. If you use Qasir, every sale causes the POS system to update sales data automatically so it's easier to know how funds flow in your business.
2. Start by Counting Cash
Let's discuss how to do it. The important thing to remember is that balancing cash (cash recap) is just as important as what you do in the morning. What does it mean? This means that you must always start your day by counting the cash that is already in the storage drawer at the cashier's desk. This ensures that you always have enough money to give customers change.
3. Depositing Cash Throughout the Day
The next step in keeping the cash register tidy is to deposit cash throughout the day. Again, depending on the volume and size of your transactions, the deposit amount you will make may vary. After determining when you will make this deposit, count your cash and remove the difference from the initial count in the morning.
Having two people witness the counting, confirm the amounts, and see the money deposited into the safe is also important. So, whether it's store owners and managers, or top managers and employees, two sets of eyes for this type of cash drawer management will ensure a level check and balance in your business.
4. Determine the End of Day Balance
The end of the day is when all the hard work you invested pays off. Now is the time to look at the results of your work and ensure that the money taken in during the day and out is done efficiently and honestly.
The first step in doing this is to calculate the total amount at your cashier. This includes credit card transactions, cash, and digital payments. Once you have finished adding everything up, you have to compare the numbers you created manually with those displayed on the Qasir POS system.
If the numbers match, congratulations! You can sleep well. If not, you'll have to investigate a little. Small differences are common and are usually caused by human error, perhaps when the cashier is calculating change to the customer, or there are orders that have not been recorded/entered into the POS system at the time of the transaction.
5. Entrust the Cash Recap Process to Qasir
Now you know how cash recap works, right? To find out how to use it in the Qasir application, you can see the following guide article.
Read: Cash Recap in the Qasir Application
With this feature, the problem of matching cash and transaction records is resolved.
How to Use Qasir Cash Recap for MSMEs
As stated previously, making financial cash flow reports is very important for MSME business actors.
Before starting the cash recap process, what you need to know is that what is meant by incoming cash here is all forms of additional capital. Meanwhile, cash out is all expenses incurred during business, one of which is shop operational costs. If you want to know how to use Qasir's cash recap, you should read the guide below.
1. Click the cash recap menu to create a cash recap report. Then, log in using your username and password. If you don't have an account, you can choose to register and create an account by following the explanation provided.
2. When you have logged in, click open the cashier to collect cash.
3. If you want to see a summary of the previous shift, there is a sign saying, "Completed". In this case, the recap period is calculated from when the cash recap is first opened until the user closes it.
4. If you want to open a new cash recap, then fill in the initial capital according to the day or shift that will be recapped. If so, just click "Open Now" so that the cash recap is successfully opened. Next, input (enter) cash out and in.
5. After that, click “Close Cashier” to check cash during working hours. From here you can go to the actual receipt page (the amount of physical cash currently available). You can select “Cash Received” if you get cash during the sale.
Meanwhile, if you receive non-cash payments, you can select "Non-Cash Accepted". Next select, “Confirm”.
6. If the system reception is in accordance with the actual, the result will be zero (0).
If the cash recap is closed, the recap will automatically close itself. Automatically all recording of financial transactions, financial cash recaps, will be recorded directly in the cash management report in the Qasir backoffice application.
If you want to know more details about how to check cash management via Qasir backoffice, you can visit the page Manage Cash via Backoffice.
Meanwhile, if you want to ask more about cash recaps, use this application. Please contact customer service via live chat on the website, namely https://helpan.qasir.id or via the contact center at hello@qasir.id.
Benefits of the Qasir Cash Recap Application for MSMEs
After knowing how to make a cash recap using the Qasir application, you can understand how important it is to make a cash recap for MSME business actors. These are some of the benefits of using the Qasir Cash Recap feature for MSME businesses.
1. If you use the manual method, you have to look directly at the goods storage rack. The point is to find out how many products were sold. However, with the Cash Recap feature, it is easier for you to record daily sales results. All transaction reports can be obtained directly and quickly.
2. The existence of Qasir's cash recap, cash control is more structured. The Qasir application will record every daily sales detail. It also shows what items are still available and have been purchased. Thus, all sales and income figures will be calculated automatically. Perfect for entrepreneurs or business people to avoid the risk of calculation errors in each transaction.
3. The presence of the Qasir application makes every business financial report more secure because it is equipped with a strict security system. All stock items and the amount of money received will be calculated automatically. This means that every money received will correspond to the number of goods in the shop.
4. The business analysis process is easier, faster and more accurate when using the Qasir cash recap application. Every time a financial transaction is recorded, the cash recap will be directly connected to the sales record and current stock of goods.
5. The cash recap application is able to provide services to its customers quickly. You can carry out transactions, starting from recording, calculating the total transaction, to accepting all payment methods from consumers more easily.
6. The presence of the Qasir application provides a special plus point for MSME business players. You will look more professional in the eyes of customers, thereby having a positive impact on your business. Consumers/customers will increasingly trust the business you run.
7. Having the Qasir application can help you minimize the risk of errors when making cash recap notes. You can check every product that is entered again, thereby reducing sales transaction errors every day. You can even make corrections if an error occurs in the transaction easily.
8. When compared to using a conventional cash register. The Qasir application has lower and more affordable maintenance and repair costs. You can further reduce operational costs and can use them for other costs.
With the brief explanation above, you will definitely get an idea of the importance of making a cash recap for MSME business actors. If you need an easy way to record financial transactions for business. Of course the Qasir application could be the solution!
Download the FREE Qasir application here.
Now, you can create financial reports easily, quickly and safely without the help of admin or accounting. Everything can be monitored in real time. So, the process is much more economical and practical than using labor assistance such as accounting and admin.