Cashing out requires accuracy. With LightSpeed’s End of Day report, you can track each station’s sales, payments, credits, and expected vs. actual totals. You can run the report at any point during the day, and reviewing daily station histories is done with a single mouse click.
You can choose to run a Summarized, Detailed, or Receipt report.
Summarized Report
You get a Summarized End of Day report that shows Sales Totals, Payment summaries, Class Totals, and Till Totals.
Detailed Report
You get a Detailed End of Day report, showing Sales Totals, Payment Summaries, Class and Family Totals, Payment Details, Deposits, New Invoices, Old Invoices with payments made that day, Invoices Modified that day, and Invoices with Returns.
Receipt Report
Beginning Till - the till at the start of the day.
Ending Till - the till at the end of the day after you have removed the funds for deposit.
Funds For Deposit - the amount of cash and cheques that were entered into LightSpeed that day.
Estimated Deposit - the total of cash and cheques LightSpeed is expecting you to deposit.
Actual Deposit - the total of the cash/cheque you’re actually depositing.
Difference - the difference between Actual Deposit and Estimated Deposit.
Clicking the History button in the main End of Day window will produce a list of all End of Day reports. Double-clicking any entry will display that day’s totals in the main window, which you can print using the Print button.
Tills are a way of keeping track of the payments taken by a sales station, and can be joined and left periodically by a number of employees charged with transacting invoices. At the end of a shift, or the end of a day, these tills can be closed and reconciled, based on the ending totals of each payment method compared to the totals recorded at the beginning totals.
Creating, joining, and reconciling multiple tills is possible using LightSpeed’s Tills feature. To enable the Tills feature, go to Tools > Setup > Company, and choose the Tills tab, clicking the Enable Tills checkbox.
Next, go to Tools > Tills, and click the Open Tills tab of the Tills window. Click New, and enter the opening balance of your Till. Click OK, which will display a window asking if you want to join the Till. Only one Till can be “active” at any time, and a Till must either be “left” or reconciled before another one can be “joined” or activated.
LightSpeed allows you to decide whether or not you want to absorb any overages/shortages between the Estimated and Actual totals in your Till.
For example, if the Beginning Till is $100, the Cash total in LightSpeed indicates you took in $100, but the Ending Till is only $190, the Difference is $10. If you want the Till to remain constant at $100 for the next day, you can choose to short your deposit by $10. Or, if you want the Funds for Deposit to equal the Estimated Deposit, you can choose to short your till, and make $90 your Ending Till total.
Once active, a Till records each payment entered into LightSpeed, and adds them to the beginning total recorded when the Till was created.
Leaving a Till will not close it entirely, and can later be rejoined, as in the case of a clerk leaving a sales station with their Till, possibly for a break, and then rejoining the sales station with their Till intact.
Reconciling a Till closes the Till, prompting the Payments window, where you enter the actual, or Counted, totals for each method of payment. Ideally, your Counted totals will match your Expected totals, but you may have discrepancies between these numbers, which may affect your Closing Till. Cash and check totals can be broken down further, by clicking the Enter Count button illustrated in the image shown here.
Once you have entered your totals, click OK on the Payments window, and you can either print or preview the overview of that Till, including the cash and checks you expect to deposit, as well as each other method of payment taken into that Till.
Discrepancies
In the case that you have discrepancies for your check or credit card totals, it is advisable that you cross-reference with other payment methods to determine if the wrong payment method was chosen in LightSpeed, and then simply modify the type of payment method in LightSpeed for that transaction. For cash discrepancies that have been verified as actual overages or shortages in cash taken in, you may choose to short either the Till or the Deposit, as explained in the End of Day section of this document.
