Self-Paced Training - Lesson 7
Lesson #7 - Daily Sales Report, Manage Cash & Bank Deposit
The seventh lesson in the MaxxTraxx Training Curriculum is about managing you Cash Drawer including receiving payments, cash payouts and non-invoice cash payments, and the Daily Sales and Cash Drawer Reconciliation Report along with essential banking including writing checks and making bank deposits.
The Daily Sales and Cash Drawer Reconciliation Report is the first half of your end-of-day closing procedure. As the name suggests, this Daily Sales Report should be performed on a daily basis to enable you to confirm payments received for the day, manage your cash on-hand, and print out essential shop management reports to keep an eye on your business. The second half of your end-of-day closing entails making a daily bank deposit. As the golden rule in MaxxTraxx is to “duplicate in MaxxTraxx what happens in real life,” we suggest you make a bank deposit in MaxxTraxx whenever you actually make a bank deposit for your business. If your shop takes credit cards, this “bank deposit” is made daily with your credit card machine batch report, whether you go to the bank or not!
Along with managing your payments received for work done throughout the day, you may receive a payment for a charge on a customer’s account, or an Accounts Receivable Payment. Those Accounts Receivable payments are entered in MaxxTraxx in the customer’s record and then they appear on your “Items to Deposit” list that you access when you perform your daily “Make a Bank Deposit” function.