Cash reconciliation matches money counted to money expected.
Cash reconciliation is checking the money actually counted at the end of a day against what the sales records say should be there, and explaining any difference.
How we use it.
Keystone OS does this as Close the day: it shows what the system expects in each payment mode against what was counted. A variance has to be explained before the day closes.
One sale can be split across cash, card and transfer at the point of sale, so we reconcile by payment mode. A single daily total can match while cash is short and card is over.
A day that does not close (fictional)
A fictional farm supply store expects 1,250 in cash and counts 1,200.
Card and transfer both match.
The day stays open until someone records why 50 is missing.
The note, a refund paid from the till, stays attached to that day.
Common mistakes
- Reconciling one total instead of each payment mode.
- Carrying a variance into tomorrow without a reason.
- Letting the person who took the cash be the only one who counts it.
