I have a new client who is a cafe and they are my first retail client and want me to move them onto Sage from a manual system. I'm not sure exactly the best way to record sales for them as all my other clients have invoices I can log. Any advice around retail clients gratefully received!
Setup a cash account in bank and record either your daily takings with vat if registered and any outgoings from the till. Use the zreadings for your takings and reconcile with the paying in book. Any outgoings should have receipts and any personal outgoings from the till will be drawings. Obviously if there are a lot of outgoings from the till then you would be better setting up a petty cash system for them. If you get them to draw up weekly or daily cash sheets and attach the till readings to them plus any invoices this for me would be fine.
I think Steve has it right, on the cash sheet if they record any other movements of cash that do not have receipts like wages or bankings, they will then be able to reconcile the till float each week. There may be differences for under/over rings. Of course this may be what they already do for the manual system, but it is still necessary. Rename 'petty cash' under 1230 code to 'Takings' and you pretty much operate a cash book from there.
I usually do a weekly spreadsheet (7 days or whatever they work), they can put down what they have in & pay out. totalling up any banked monies, works a lot easier.
Thank you so much everyone for your replies, it's fantastic to get such support. Just one thing, what are zreadings?
Thanks
Readings from your till normally done at the end of the day to show your transactions and final balance.
We have Z readings for all card sales and for all cash sales, could be wrong but it would be what the tax people would want to see if the business was ever investigated. It also helps to see if anyone is pinching or ringing things in wrong.
Thank you. Have just tried to set up my new client on Sage Instant accounts and want to apply the hotel and restaurants template for the Chart of Accounts but the Apply button is greyed out. What do I need to do to apply that template? Thanks.
Have worked out my last problem, however am not sure on a couple of other points : I have used the till readings as the takings but what should I code the till errors to? Also sometimes the money banked is a few pence different from the corrected till readings, should I code this to something different?
Errors is 8206 or 8205 (can't remember without looking on sage).
If the money banked is different from the till readings in my opinion you have to assume that it is either in the till or someone hasn't entered something right or maybe it's in someones pocket, from my own experience I suppose you can't expect it to be spot on all the time.
