Daily Reconciliation
Daily Reconciliation
Point of Sale -> Reconciliation -> "Daily Reconciliation."
About Reconciliation under FTx POS
"Reconciliation" is the process of closing out a shift and recording the physical number (amount) of tenders on hand against the tender amounts recorded by the system. This allows for tracking of any discrepancies between system totals and on-hand tenders.
Reconciliation takes place in two phases:
- Shift Reconciliation: This reconciliation is performed by each cashier at the close of their shift. The cashier is an employee of the store.
- Daily Reconciliation: The manager performs this reconciliation at the end of the day (or the beginning of the next day).
About Daily Reconciliation
Once the cashiers perform and finalize the Shift Reconciliation, the store manager or admin will perform the daily reconciliation by adding all the shifts through POS. Once the Daily Reconciliation is performed from the POS and marked as "Reconcile Is Final."
In this KB article, we learn how the store manager can perform the "Daily Reconciliation."
1. Performing Daily Reconciliation from POS
A Store Manager/Admin shall proceed to verify the Daily Recon by verifying all the shifts that occurred in a day.
Daily Reconciliation flow from POS:
-> Cashier marked "Reconciliation Is Final" for own shift reconciliation.
-> Store manager adds all the shifts to "Daily Reconciliation," and is redirected to the Daily Reconciliation listing screen.
Figure 1.1
-> The manager can verify and check the cashier values as per all the shifts.
Figure 1.2
-> When the manager clicks the "Show Manager Values" radio button, the manager will not get any data unless the shift has been verified.
Figure 1.3
-> The manager needs to verify all the shifts by clicking the "Verify Shifts" button.
-> By clicking the "Verify Shifts" button, a "Shift Reconciliation" pop-up will appear with a listing of the shift reconciliations for the day. The manager can select a shift and verify it.
Figure 1.4
-> When all the shift reconciliations are verified, the manager needs to select "Reconciliation Is Final."
-> Once all the values are verified, Save the daily reconciliation.
Figure 1.5
2. Reaching the Daily Reconciliation
To reach the "Daily Reconciliation" module, follow the below steps:
- Step 1: Log into Control Center
- Step 2: Choose Point of Sale
- Step 3: Choose Reconciliation
- Step 4: Choose Daily Reconciliation
By clicking the "Reconciliation" menu, you can see "Shift Reconciliation" by default. Click "Daily Reconciliation."
Figure 2.1
When the manager has added "Daily Reconciliation," that daily recon record will be synced into Control Center.
Figure 2.2
You can see the following data for the daily reconciliation in the tabular format:
- Recon Date: It displays when the daily reconciliation was performed by the cashier.
- Employee: It displays the name of the employee who performed the daily recon on the POS.
- Employee #: It displays the employee number who performed the daily recon on the POS.
- Choose Location: It displays the name of the store (location) where the daily recon was performed.
- Finalized: As per the highlighted record above (Figure 2.2), daily recon has been verified and finalized from the POS, but it is pending to be audited.
- Audit: Once the daily recon is audited from the control center side, a completed icon will appear.
- Variance Amount: It displayed the difference in the $ amount of the system vs. the $ amount in the cash drawer, if any.
- Actions: View | Remove | Print | Audit Recon | Unfinalized
Note: Once the store manager finalizes the daily deconciliation from the POS, only then will two additional actions appear. ("Audit Recon" and "Unfinalized")
Filter Date Range: You can also get the daily deconciliation by filtering the date range.
2.1 View Daily Reconciliation
Click the "View" icon to check the reconciliation data for the specific shift.
Figure 2.1.1
By clicking the "View" icon, you will be redirected to the "View Daily Reconciliation" page. You can see the cashier and system's values, along with any differences.
Figure 2.1.2
If the store manager has already finalized the Daily Reconciliation, only then will two buttons appear: "Unfinalized Daily Reconciliation" and "Audit Daily Reconciliation."
2.2 Remove Reconciliation
Figure 2.2.1
2.3 Print Daily Reconciliation
Download and print the recorded details of the specific shift reconciliation by clicking the "PDF" icon. By clicking that icon, a PDF will be downloaded, and you can print it out for your reference.
2.4 Audit
When the store manager has verified the shifts and finalized the Daily Reconciliation from the POS, you can see the "Finalized" column as a green tick marked, but the auditing from the Control Center side is still pending.
Click the "Audit" icon from the listing or click the "Audit Daily Reconciliation" button from the View Daily Reconciliation page.
Figure 2.4.1
Check the Reg Z details by scrolling down.
Figure 2.4.2
Now, by clicking "Audit Daily Reconciliation," a "Daily Reconciliation Audit" screen will appear.
Figure 2.4.3
Audit Finalized: If all the values are corrected and proper, tick the "Audit Finalized" checkbox and click the "Save" button to save the finalized audit.
2.5 Unfinalized
If the store manager has finalized the daily shift but you find some amount $ values are mismatched or miscalculated, you can unfinalize the daily reconciliation.
By clicking "Unfinalized Daily Recon" from the listing or from the view daily reconciliation page, a pop-up will appear to confirm the unfinalization of the daily reconciliation.
Figure 2.5.1
If you click the "Yes" button, a store manager needs to reverify the cashier and manager values. Once the values are updated, the store manager needs to finalize the daily recon.
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