12.3. Reconciling Your Drawer

Reconciling the Drawer at End of Day.

Reconciling your drawer at the end of the day involves reviewing the Reconciliation Report and confirming it matches the cash and checks in your drawer, as well as the credit card receipts on hand.

Balancing Cash and Checks.

To balance cash and checks:

1. Open Accounting.
2. Select Reports.
3. Select Reconciliation.
4. Confirm the date shown is today’s date.
5. Click Search.
6. Review the totals and note the Cash and Check amounts.
7. Tally the cash and checks in the drawer and confirm they match the report.
8. If amounts do not match, review individual transactions to identify the discrepancy.

Balancing Credit Card Transactions.

When processing an in-person credit card transaction, keep the receipt in the cash drawer. These receipts allow you to confirm exactly what was charged.

To verify credit card totals:

1. Tally all in-person credit card receipts.
2. Compare the total to the credit card amount shown on the Reconciliation Report.
3. Exclude deposits and any transactions that were not processed in person.

Documenting the Reconciliation.

After verifying all totals:

1. Print the Reconciliation Report.
2. Initial the cash, check, and credit card line-item totals.
3. For credit cards, place a check mark next to each transaction that has a corresponding receipt.
4. Three-hole punch the report.
5. File it in a three-ring binder along with a copy of the bank deposit slip.