Day close with cash count and day lock
At the end of each day every shop counts its cash against what the books say it should have. A difference needs a reason, and the cash is marked as handed over, banked or kept. The closed day is locked so its bills cannot be changed afterwards.
PLANSEvery plan
Why it matters
In a shop with three counters and a cash drawer, the money is short a few hundred rupees most evenings. Nobody knows whether it was a wrong change, a bill entered for the wrong amount, or a bill made the next morning for yesterday. SmartMy Trade works out the cash the shop should have from its own cash book. That is the opening cash, plus the cash taken, less the cash paid out. Staff count the drawer, and any difference cannot be closed without a reason. Closing the day locks it. Billing staff can no longer post a bill or return dated that day or earlier for that shop. So yesterday's figures stay as they were counted. Only a manager can post into a closed day, and every step is kept in the day's history.
The problem it solves
- Cash is short at night, and there is no way to find out why.
- Bills for yesterday are made the next morning, so yesterday's sales keep changing.
- The cash handed to the owner or banked is written on a slip that gets lost.
- With several shops, the owner cannot tell which shop's cash did not match.
How it works
- Give each shop its own cash journal under Trade > Configuration > Shops and Parties > Shops and Godowns, so each drawer has its own cash book.
- At closing, open Trade > Sales > Billing > Day Close > New. Pick the shop; its cash journal fills in. The date is today.
- Press Work Out. The system fills Opening Cash, Cash In, Cash Out and Expected from the posted entries of that cash book.
- Count the drawer and type Counted. The Difference is worked out. If it is not zero, fill Why Different.
- Say where the cash went: Handed to the Owner, Banked or Kept in the Shop, with the amount handed or banked.
- Press Close the Day. The day is locked for that shop: billing staff cannot post bills or returns dated that day or before.
Everything it does
The count
- Opening Cash: the balance of the shop's cash book before the day
- Cash In and Cash Out: what the cash book received and paid that day, from posted entries
- Expected: opening plus cash in less cash out
- Counted: typed by staff; Difference: counted less expected
- Work Out can be pressed again before closing, after late bills are posted
- Close the Day works it out once more, then closes
Rules
- One day close per shop and date
- A difference of any amount needs Why Different before the day can close
- Cash Went: Handed to the Owner, Banked or Kept in the Shop (Kept in the Shop to start with). The amount is noted when handed or banked
- Once closed, the shop, date, journal, count, reason and where the cash went can no longer be changed
- Every change is kept in the day's history, with who made it and when
Day lock
- After a shop's day is closed, billing staff cannot post a bill or return of that shop dated that day or earlier
- The message names the shop and says a manager must post or change the bill
- Trade Managers can still post into a closed day
- Posted bills are never reset to draft in any case: corrections are returns
Lists and the dashboard
- Day Close list: shop, date, expected, counted and difference
- Filter With a Difference; group by shop
- The Trade dashboard shows Day not closed: day close records of earlier days still open
Who uses it
Billing ClerkCounts the drawer, works out the day, explains a difference and closes the day.
Trade ManagerChecks differences across shops, and posts a late bill into a closed day when needed.
Trade AdministratorGives each shop its own cash journal.
OwnerSees which shops have not closed and how much cash was handed over or banked.
Where you use it
- Web: Trade > Sales > Billing > Day Close
- Web: the Trade dashboard tile Day not closed
- Not in the app: the day close is done on the web
- Not for SmartMy POS tills: shops on SmartMy POS close their till sessions there
What you control
Settings
- Cash Journal on each shop: none until set; the day close then needs the journal picked by hand
- Cash Went: Kept in the Shop to start with
Questions
Who can post a bill into a day that is closed?
Only a Trade Manager. Billing staff get a message that the day is closed and a manager must post or change the bill.Can a closed day be opened again?
Not as built. A closed day stays closed. A manager can still post a late bill or return into it, and that shows on the cash book.Does the lock stop receipts too?
The lock covers bills and returns. Receipts and other cash entries are not locked by the day close as built, so keep them to managers if that matters to you.What if two shops share one cash journal?
Then the expected cash covers both. Give each shop its own cash journal so each drawer is counted on its own.Does closing the day put the cash in the bank?
No. Cash Went records what happened to the cash. The bank deposit itself is a cash-to-bank entry made by accounts.Related features
BILLING AND STOCKQuick bill, paid now or on credit, with the party's last rateOne short bill form for the counter and the office. Pick the party or the cash customer, add items, see the rate you gave this party last time, and post. The stock leaves the shop and, when paid now, the payment is recorded in the same step.BILLING AND STOCKReturns and receipts against billsGoods coming back are a return on the bill: the stock goes back into the shop and the party's balance comes down. Money coming in is a receipt, set against the party's bills, and the party gets a thank-you with what is still due.BILLING AND STOCKThe owner's daily summaryEvery evening the owner and the Trade Managers get one short message for each Entity. It has today's sales by shop, returns, money collected, purchases and what parties owe you. During the day, the Today screen in the app shows the same figures live.ACROSS SMARTMY TRADEDashboardsSmartMy Trade opens on a ready dashboard: sales, what customers owe, supplier bills overdue and shop days not closed. It shows sales by day and your top customers. The owner's phone opens on Today: each shop's sales, collections, dues and low stock.CUSTOMERS, BROKERS AND REPORTSEach shop's staff see their own shopGive each user the shops and godowns they work in. Their list of bills and returns, and the goods coming in and going out, then show only those places. Trade Managers, and users given no shop, see every shop.CUSTOMERS, BROKERS AND REPORTSCredit parties pay later at SmartMy POSWith SmartMy POS at the counter and SmartMy Trade in the office, credit parties buy on their account at the till. Trade's credit checks run first, and the sale lands on the party's ledger as an invoice.
See your shop on it.
Tell us what you sell, how many shops and godowns you run and how you bill today. We will set up your items and parties with you and print your first bill.