What is a Register Closure?
Register Closures are a basic part of retail that allow you to physically check your cash and credit totals against their recorded totals in Vend.
A register is opened when you first go to your Vend sell screen, and it checks the date and time on your computer or iPad, recording it as your register open time. From that point on, any sales you record on that register in Vend will be included in the register closure report.
Once you decide to close the register, a register closure is created. This process connects to Vend’s cloud, and checks it’s date and time, recording it as the time the register was closed. All sales, payments, and returns done in between the Open and Close time on that register will be recorded in a register closure report.
This report breaks down its info by:
- Register: Which register was used
- Outlet: Which outlet the register is in
- Opened: The date and time the register was opened
- Closed: The date and time the register was closed – this doesn’t have to be the same day as the opening time
- New Sales: The total value of sales created during the register period.
- Taxes: A breakdown of the taxes collected while the register ran.
- Discounts: A total of Discounts added to sales
- Account sales: Account sales created, paid, and returned
- Layby sales: As account sales
- Payments: The total payments applied against sales during the register and a breakdown of Payments received by payment type.
Payments can be applied to sales created during other registers.
When closing up the register, You add up and confirm your totals by payment type against expected totals listed on the register closure.
You can also click ‘View full details’ to see a list of each sale and it’s products and payments from the closure.
Register closures are important because they allow you to view a snapshot of the activity during a business day. This doesn’t change with returns and voids the way that other reporting does. Because of this, it’s especially helpful for comparing to later reports to get a better picture of how your store operates day-to-day, and create a financial record for reporting.
To learn more on how to perform a register closure, click here.