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Cash Drawer Management: How do I count bills and coins?

The title of this thread has been edited from the original: Cash drawer management coins

 

maybe i'm making this too difficult, but when using the cash management feature, how do you account for all denominations of bills and coins?  when you simply put a starting cash amount of $200, how do you account for each denomination of bills and coins?  am i making sense?

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Super Seller Alumni

Best Answer

You don't need to worry about denominations of coins or bills.  Simply input the total amount that's in the drawer into the software.

Judy T Shumway

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Super Seller Alumni

Best Answer

You don't need to worry about denominations of coins or bills.  Simply input the total amount that's in the drawer into the software.

Judy T Shumway

View Best Answer >

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Thanks for the reply.  So when you start with 200.00 is that all cash and coins not tracked?

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Super Seller Alumni

I'm not sure what you mean by "not tracked".  When you open your drawer for the day, you enter the amount of money in the drawer (say $200).  Assume you have cash sales of $100 for the day.  When you close the drawer, the screen will state that there should be $300 in the drawer, and you count all the cash and enter the total (all of the money.)  Square will then generate a report that shows the status of the drawer for the day: either correct ($300 cash in the drawer), or if the cash is over or short, and by how much.

 

Please reply if I'm not answering your question.

Judy T Shumway
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I must not be asking my question clearly.  I understand what you're saying,  but my sales are not whole dollar amounts...for example, 4.12, 9.31, etc...so when cash is paid, is one to only count the bills when looking at end of day amounts if the drawer starts at an even $200? So if I start my day with various bills totalling $200, what about the coins?  Are they not tracked as well for the non-whole dollar transactions?

 

Still clear as mud?  Lol!

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I'm asking bc I've seen a fellow buisness owner count her drawer and her system tracks every dime, nickel penny and quarter....in addition to all bill denominations 

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I'm not sure how that would work, because if someone's sale came to $4.35, how does the system know how the 35 cents was tendered: as a quarter and a dime, as a quarter and 2 nickels, etc, or if the customer gave 50 cents, how was the change returned?  I've never worried about that - I count my drawer at the end of the day and take money out so that there's the amount that should be in the drawer when I open the next day.  I have $400 in my drawer, so if there's $25.35 in sales, my drawer will count to $425.35 and I'll take $25.35 out so there's $400 for opening tomorrow.

Judy T Shumway
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So you keep no coins in your drawer?  If someone's bill is 23.67, and they pay with $25, what do you give them for change?  And at the end if the day, do you only take out whole dollar amounts? 

 

(((Like i said in my initial post, I'm probably making it more difficult than it needs to be, but am just wanting to see how others do it))) 

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I'd give them $1.33 change.  At the end of the day, I reduce the amount in the drawer to my $400 starting amount.

 

I know there are some programs that let you enter the numbers of all the denominations of bills and coins and then they calculate the amount in the drawer, but I think that's more trouble than just counting each denomination and calculating its value and keeping track on a calculator.

Judy T Shumway
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Ok, on a different note...I have 2 coffee shops.  Both square registers are tied to the same account.  Can the cash drawers be opened/closed separately from each other. Meaning will they each keep track if their own or will they sync to each other? Know what I mean?  

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Super Seller Alumni

I only use one Register, but I'm pretty sure each one will be handled separately - that is cash management for each register is specific to its own register.

Judy T Shumway
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Thanks for all your help!  Appreciate it!

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Super Seller Alumni

You're welcome.  I hope I got all of your questions answered.

Judy T Shumway
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The title of this thread has been edited from the original: Physically count dollar bills?

 

Is there a option in cash management to physically count how many 10’s, 20’s, 50’s etc etc are in the cash drawer? The current option just isn’t suiting our needs at the moment....

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Super Seller

No, there is no functionality like that in Square at this time.

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