About cash handling
Cash handling
Revenue and payouts can be registered and managed using the Cash handling function. In addition to the revenue that is entered in Wise via various transactions (fines, lending fees, hold request fees, membership fees, etc.), other revenue and expenses can also be registered. For example, this could include the sale of tote bags, glasses, tickets to activities or expenses such as cafeteria supplies.
Configuration
There is at least one cash drawer at each branch. A branch may have multiple cash drawers. Up to 999 cash drawers can be defined within a financial organization. Configuration of cash drawers includes whether cash drops can be made, if cash drawer discrepancies should be registered when closing, and whether the cash drawer will be opened automatically during certain processes. The amount of the fixed cash drawer balance is also stated here (the amount of change kept in the drawer at the start of the day).
Note: Wise does not support variable cash drawer balances. The assumption is that each drawer will have a fixed starting amount per day. The benefit of a fixed drawer balance over a variable balance is that the fixed amount cannot be changed in the counting function. This also minimizes the chance of errors. Each branch starts the drawer with a certain amount of change in the drawer. The amount of the fixed cash drawer balance is entered for each branch. The employee who closes out the cash drawer ensures that the fixed cash balance is left in the drawer for the next day.
Cash drops and discrepancies
In addition to the settings described above, drawer configuration also indicates whether it is possible to make a cash drop (remove money from the drawer) before the end of the day and whether an entry must be made immediately to account for a cash drawer discrepancy.
- A disbursement is entered as cash drawer code 5990
- A cash drawer discrepancy is entered under accounting code 4990
During the day, money coming into and out of the cash drawer is registered. How and when the cash drawer is counted and closed can vary per branch.
Cash drawer operation
The cash drawer can be configured to allow it to open automatically when booking cash sales, other revenue, and service desk expenditures (including refunds).
Cash drawer opening is controlled at a system-wide level using the system option CASHDPO - Open cash drawer on payout. Setting this option to "Yes" enables the cash drawer to open during all three transaction modes - cash sales, other revenue, and service desk expenditures - in the Client. Setting the option to "No" allows the cash drawer to open only during cash sales transactions. The default setting for the option is "No."
Set the CASHDPO option to "Yes" to allow the cash drawer to open automatically for other revenue and service desk expenditure transactions. If the option is set to "No" the cash drawer will only open automatically for cash sales.