What are the benefits of the cash management tool?
With this feature, you can:
Accurate cash tracking and reconciliation: establish a starting balance as a reference point to monitor all cash movements effectively.
Enhanced transparency and security: by recording every cash inflow and outflow, you minimise human error, quickly defect potential theft with reporting tools, and maintain precise documentation for audits and compliance.
Optimised business operations: adapt your cash drawer usage to your workflow (keep it open for weekly reconciliations or close and reopen it between shifts.
The cash management tool is available exclusively to POS Plus users. When you sign up for this plan, you unlock a range of additional features and enhanced POS capabilities.
How does the cash management feature work?
From your POS Lite or tablet, tap the profile icon.
Select “Cash payments”.
Enable the "Accept cash payments" toggle to activate the cash payments option at checkout.
Enable the “Manage cash” toggle and go back to the main screen.
The cash icon allows you to open a cash drawer session, view your available cash, perform manual deposits or withdrawals, and close the session when needed.
From your POS Lite or tablet, click the cash icon.
Tap "Close drawer” on the bottom of the page.
Count the amount of cash you have on hand.
Enter the amount of cash you have on hand, and the difference with the expected cash is automatically counted.
Close the virtual cash drawer session.
To start a virtual cash drawer session, you have two options:
From your POS Lite or tablet, click “Record cash” and follow the instructions.
Then, tap the cash icon in the navigation bar, click "Open cash drawer”, and follow the instructions.
We recommend opening the cash drawer at the start of your business day to ensure financial accuracy and accountability.
From your POS Lite or tablet, click the cash icon in the navigation bar.
Next, tap “Put cash in” or “Take cash out”.
Input the amount of cash.
Select the reason for the change.
Optionally, add some more information in the comment fields.
Confirm. The manual adjustment will be accounted for in your total available cash balance and visible in your report.
The cash management report provides a detailed record of all the deposits, withdrawals, and discrepancies for each cash drawer session. Additionally, it includes explanations for manual adjustments, related comments, the expected cash balance, and a breakdown of all cash transactions.
Log in to your account.
Click the home icon.
Select “All reports”.
Choose “Cash report” and select your desired period.
Download the report.
The cash management tool does not require a physical cash drawer. However, if you would like to use one, you can easily connect a compatible cash drawer to your SumUp POS system.