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Banking function

Introduction

TengoPos includes an optional function called Banking, where you can enter on a till amounts banked by payment method for the day, and these amounts are reported on the cloud with your other sales information. On the cloud, a calculation is made so that you can easily see any variance between the amount entered as Banked, and the sales that day – broken down into payment methods. Typically this is Cash and Card. How you use the function is up to your organisation. When you actually bank your cash, and when Card payments are received into your bank account (possibly a couple of days after the sale was made) varies from client to client. A simple example will demonstrate how it works.

The Banking button

Banking button on the Admin tab, middle left.

If your organisation uses the Banking function you will probably have a button on the admin tab, as in the example above. If you add / edit your own buttons on the till, for those with the required access level the \\code is \\ABKG.

Pressing the button produces this box, where you can simply enter the appropriate amounts.

Example

Sales have been made today so far £4.95 cash and £11 Card. These amounts have been entered in the Add Banking screen above, for the sake of our simple example we assume both are banked today. A receipt is printed automatically when you press OK, confirming the amounts, with date / time / username / site name on it.

On the cloud this is what you will see. On the Sales Reports tab heading, hover over and click on Sales Banking in the menu that appears. When the screen opens, press the search button (the magnifying glass symbol) and the figures will appear –

Note the From and To dates default to “Today” and can be changed

To keep things simple here, the cloud knows we have made cash sales of £4.95, and we have told it that £4.95 has been banked – so the variance is nil. Likewise with Card sales.

You can “Bank” more than once a day, the figures are cumulative. So if we sold another £5 of goods for cash, then use Add Banking to put in another £5 in the cash column, when we search on the cloud the cash sales will have increased to £9.95, and the cash banked to £9.95.

Variances

In our example day, we have now sold another £5 for cash, and £10 card. We have added the Cash to Banking, but we have decided as an organisation not to record the card sale until the money actually hits the bank account. The cloud Sales Banking report now looks like this –

As expected there is a card variance of £10.

If you bank cash every evening after closing, and it is registered in your account that day, cash will always balance and any variance would need looking into. If you bank the cash the day after (more likely of course) then today’s banked cash will match yesterdays cash sales, so there will always be a variance showing on the cloud report for the day, but one which can be explained and understood. You can change the dates searched using the From and To fields so you can input yesterdays date and search, check the Cash Sales, then input today’s dates and search, to look at cash banked. In the case of credit card sales, today’s banked card funds may match goods sold from 2 working days ago. Over a period of time, credit card receipts into the bank should match card sales through the till of course.

You can also input dates in the From and To boxes on the cloud, to look at say a week or months sales.

As stated at the beginning of this article, how the functionality is used is up to you, the system simply gives a mathematical sum of sales by payment method for the day, and adds up what you tell it has been banked for the day. You can export the reports into Excel using the symbol to the right of the magnifying glass.

Updated on 18th February 2019

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