After closing the register the receipts are then consolidated to make a single deposit to the bank account. You may also choose to make separate deposits for each register. Cash received as part of a POS sale is actually posted to the Cash GL account via Accounts Receivable. This is due to the cash being applied to the invoice via Cash Receipts as the POS sale is processed. The deposit to the bank account is not recorded until the deposit register procedure is complete. Register variances are posted to the General Ledger from the banking Module.
POS > Registers > Deposit Registers
- Starting Register – By pressing the F9 key you will get a list of possible registers to deposit. Choose the staring register.
- Ending Register – You can choose the ending register in the same manner. If you only want to deposit one register the starting and ending register should be the same.
- Starting and Ending Date - If you tab through these fields the current date will automatically be used but they can be changed if needed.
- Deposit Date – This is the date that the deposit will be made. This also will default to the current date.
The un-deposited, closing amounts from each register that you chose is displayed with the bank account and amount to be deposited. A separate line and amount will be displayed representing the different payment methods you can modify the bank accounts and amounts but the total must always equal the total from the registers.
Note: Only the cash and checks are deposited. On Account transactions are not deposited as there was not cash received for the transaction. Credit card deposits will be handled on a separate screen as your credit card accounts usually have a separate default account.
- Deposit totals – TRX will calculate the deposit total for you
- Total from Registers – Trx will also import the total from the register close for you.
- Proof – The proof is the difference between the bank deposits and the total from the registers. This will have to be 0 for you to proceed. If the register was closed with a variance this will not be 0 and you will have to modify one of the deposit amounts to make it equal (usually cash)
- Adjust for variance – TRX will make that adjustment for you if you press the "adjust for Variance" icon.
Note: You will not be able to proceed with a deposit if your variance is not 0, you will get a message via pop up that will tell you have to make an adjustment.
- Deposit Registers – Pressing this icon will start the deposit procedure. You will receive a deposit register report showing you the deposit that is about to be made for verification. If all looks correct choose yes (choosing no will stop the process and allow you to make changes).
After the report is printed you will be asked if you would like to close the register, choosing yes will complete the process.