Float and Cash Management
A float is the starting cash kept in the till so the business can give change. For example, a salon may start the day with $100 in small notes and coins.
Best practice is to enter the float when opening the register at the start of the day. Register opening and closing should ideally line up with end-of-day cash up and EFTPOS settlement.
If cash needs to be adjusted after the register is already open, use Cash Management.
Go to Sales > Cash Management.
To add cash:
Select Add Cash.
Choose Cash in for extra float or general cash added to the drawer.
Enter the amount.
Add a note if useful.
Select Add Cash.
To remove cash:
Select Remove Cash.
Choose the appropriate reason, such as Cash out, Petty cash out, or Cash banked.
Enter the amount.
Add a note.
Select Remove Cash.
Cash Management is useful for petty cash, adding extra float, removing excess cash for banking, and tracking cash movements when the business does not close and cash up the register every day.