Face to Face Training

Banking & Cash Handling on Set

The ability to successfully manage cash takings & ensure all financial transactions on a set are completed accurately is critical to the successful performance of a set.

Our hands on training gives you the tools to ensure that you & your team can successfully process transactions on set, but we understand that things will go wrong. At the completion of this module you will have the knowledge to not only correctly process transactions, but also understand & identify the possible mistakes that may occur.

Reconciling EFTPOS Transactions

Log into SkyePOS (https://skyepos.com/v1/home.php) using Username ‘Training8’ & Password ‘stbtraining8’ & from here you can complete a few exercises.

The exercises are loaded from dates 1/11/2021 through to 11/11/2021 in this database

Reconciling EFTPOS transactions is, in theory, the easiest group of transactions from which to find errors. The 4 most common errors are:

  1. An EFT transaction has been processed as cash in error. In this case, there will be a corresponding discrepancy in the other payment method, eg EFT will be down/short by $49.95 & cash will be up/over by the same amount. If this is the case, you should be aware & already have notes made from when this happened.
  2. A split payment has been incorrectly processed.
  3. An incorrect amount has been manually input, eg a SGP for $49.95 has been entered into the EFTPOS machine for a different amount to what appears in the MacPOS transaction journal.
  4. An EFTPOS transaction has been declined, but it has not been noticed by the staff completing the transaction.

Every day, the person completing the reconciliation must run a Pre-Settlement/Batch Totals report from the EFTPOS machine.

Once the last transaction has been completed for the day run a ‘Pre-Settlement Report’ from your EFTPOS machine;

  1. Press the ‘Menu’ key (grey button with a circle on it) on the EFTPOS machine (Figure 2)
  2. Select Option ‘3’ – Batch Settlement
  3. Select Option ‘4’ – Batch Totals
  4. Next you will be given the option to ‘Print Transaction List’. Select ‘Yes’.
  5. When the report prints (Figure 3). Enter the total sales amount (circled GREEN in Figure 3) in the EFT Deposit field (circled RED in Figure 1).

Pre-Settlement Report

Transaction List

The total amount shown on the Pre-Settlement Report (circled green) should match the value displayed in the SkyePOS EFT field. If these match, there is no further action required to reconcile, however it is important that staff should not upload the photo of the pre-settlement report, rather, they should upload a photo of the ‘Settlement Report’, which they must run the following morning.

To run a Settlement Report

Once the last transaction has been completed for the day run a ‘Pre-Settlement Report’ from your EFTPOS machine;

  1. Press the ‘Menu’ key (grey button with a circle on it) on the EFTPOS machine (Figure 2)
  2. Select Option ‘3’ – Batch Settlement
  3. Select Option ‘2’ – Last Settlement
  4. Next you will be given the option to ‘Print Transaction List’. Select ‘No’.

When the report prints you must verify that the amount on the settlement report matches the amount entered the previous day & then put both reports & transaction list in you Daily Envelope.

Select 3 November 2021 in SkyePOS to view a completed reconciliation report.

Reconciling EFT transactions – Exercise 1

Select 11 November 2021 in SkyePOS.

You can see that whilst the overall takings for the day are balanced, there are ‘matching’ errors in cash & EFT takings. Logically this would mean that a transaction that should have been processed as EFT has been processed as cash, but we need to check the associated reports to verify this is in fact the case & to do this we should compare the report from the Transaction Journal from the EFTPOS machine & the Payments Journal from SkyePOS.

The process for running an EFTPOS Transaction journal is described above & you can download the journal from that day by clicking on the link below.

Journal 1 link

The payments journal in SkyePOS should be run by clicking on ‘Payments’ in the Deposit Reconciliation report, then select EFT. This will display a list of all of the EFT payments processed for the day & the report will look like the image below.

You can use this report on screen, or download the file into a spreadsheet by clicking on ‘Go, the Export Report’ in the top right hand corner of the report. The downloaded report that you require can be downloaded below.

Journal link 2 – csv file

From here it is a matter of comparing the 2 reports, noting that the INV# on the EFTPOS Transaction list is what we input into MacPOS as the RRN#. Key things to look for here;

  • A missing number in the RRN# sequence in the SkyePOS Transaction Journal that does appear in the ETFPOS Transaction report may be an indication of an EFT transaction mistakenly run as cash.
  • A missing number in the INV# sequence EFTPOS Transaction Report that appears in the SkyePOS Transaction Journal may indicate a declined transaction.
  • Transactions where the RRN/INV #’s match, but the $ amount value differs indicates a transactional processing error.

Have you found the discrepancy? Hover your mouse over the box below and check your answer.

Transaction # 807/RRN564 ($33.90) run as cash not EFTPOS

Reconciling EFT transactions – Exercise 2

Select 7 November 2021 in SkyePOS.

Similar to the exercise above, you need to compare the 2 transaction journals. In this case, rather than the journal, you will need to review the individual credit card slips from the transactions

Link to Journal 3 – pdf

Link to Journal 4 – csv

Work through the comparisons. Once you have found what you believe to be the errors, hover over the box below to reveal.

There are multiple errors on this reconciliation

Transaction #1106/RRN 850 – CC run for $3.90 should have been $33.90

Transaction #1108/RRN 851 – CC run for $3.95 should have been $33.95

Also short by $3.40 in cash. Based on the deposit values it appears coins could not be deposited on the day of trade, but these were never actually deposited.

Reconciling EFT transactions – Exercise 3

Select 8 November 2021 in SkyePOS.

Again, work through the process of comparing the 2 transaction journals. In this case, you will see how much easier the process is when you have the EFTPOS transaction journal to work through, rather than individual credit card slips.

Link to Journal 5 – pdf

Link to Journal 6 – csv

Work through the comparisons. Once you have found what you believe to be the errors, hover over the box below to reveal.

Again there are multiple errors on this reconciliation.

Trans #1326 / RRN 1021 ($23.95) declined CC processed

Trans #1277 / RRN 989 ($40.95) declined CC processed

Trans #1253 / RRN 970 ($42.90) declined CC processed

In addition to the credit card errors, the is no coin deposit

In Summary

You are comparing the data across 2 primary reports:

  • Transaction list/CC slips (Inv #) from the EFTPOS machine
  • SkyePOS transaction Journal (RRN#)

And you are looking for

  • Missing RRN/INV#’s in the sequence
  • Differences in transaction value

Reconciling Cash Transactions

Once again, we cannot overstress this point, DO NOT COUNT CASH ON SET.

Once in a secure location, count all of the cash in the till, then take out the float ($150) & put this aside for the commencement of trade the next day. The remainder is what you should bank. It is important to remember to keep coins etc in your float & bank large notes whenever possible.

One of the most common transactional errors that impacts cash reconciliation is when a transaction that should have been a misprint is processed as cash. Unlike example 1 when an EFT transaction was accidentally processed as cash, in this case, only the cash balancing will be impacted.

Reconciling Cash transactions – Exercise 4

Select 9 November 2021 in SkyePOS.

In this exercise as it is only a cash error, it is not so much about comparing journals, moreso reviewing the cash transactions to see where an error may exist. In this situation, you should initially run a cash payments journal (click on payments, then cash to display this report on screen) & review any possible obvious errors.

You will note in this report that only some of the transactions show the amount of cash given as payment & the change returned. It is a good habit for cashiers to get into to always enter the cash given to them by the customer & allow the POS to calculate the amount of change. Not only does this minimize the risk of mistakes, but it also makes finding the sort of error we are looking for far easier, as the transaction description will only show as “Cash : Payment” rather than display the change calculation.

On this basis the transactions that you should review are the ones that do not show a change calculation in the description & from this list there is one that stands out as it matches the value of our discrepancy. To investigate this fully, run a full transaction journal, by clicking in ‘Journal’ in the Deposit Reconciliation.

Link to Journal 7 – csv

Once you have reviewed the report, hover over the box below to reveal the answer.

Transaction #22601861/22601862 are duplicated.

You are looking for a couple of things to verify this fact:

  • The transactions are for the identical value ($38.90 in each case)
  • The transactions happen in quick succession (in this case within a minute of each other)
  • Both transactions are for the same customer number/image number. In this case both the customer number & image number are identical – 9ZFV3LTWPY99DYU8_019.jpg

With all of the above information we can be confident that there was likely a flaw in the original print & when the cashier went to reprint this for the customer they processed the transaction as cash rather than using the Misprint code.

Reconciling Pre-Payment Transactions

Whilst our Pre-payments system is integrated with MacPOS/SkyePOS, there may be occasions where the 2 systems miscommunicate. Often this is in situations where the internet connection is a little unreliable. In this situation, all transaction details may not bee correctly passed through & you may need to review the data manually.

Some errors that have sometimes also been seen include:

  • Online Booking/Pre-payment accidentally processed as Cash/EFT
  • A customer has visited the set on a different day to their booking
  • Customer who is booked at one set, tries to visit a different set to where they have booked (we once even had a customer book at a shopping centre in the USA thinking they had booked an Australian site!)

Previously we have compared the transaction journals in MacPOS/SkyePOS to credit card transactions, but for pre. Bookings, the comparisons are made with the Santa’s VIP’s system.

http://www.santasvips.com.au/admin

User ID = 158

Password = stbtraining8

Exercise 5 – Reconciling Prepayment errors

Select 5 November 2021 in SkyePOS & click on deposit reconciliation

You can see from the reconciliation report that although the day overall balances, there are transactional errors that impact all of cash, EFT & Pre-payments.

As it looks like no cash was in fact taken for the day (no deposit was made), reviewing cash transactions is the easiest place to start, so run a cash payments journal (click payments, then cash). This identifies order number 40400167 as the one cash transaction & by clicking on the order number in the report the full details of that transaction appear.

Line 3 of this screen identifies this transaction as a prepayment, but note that no payment value has appeared. This is an error that does happen occasionally & there are processes to follow on set to rectify this, but they do sometimes slip through the cracks. To verify that this is a valid prepayment enter the photo ID (the number in the info column – in this case 1515596613302816) into the order search field of Santa’s VIP’s to review the customer booking.

Note that when completing an order search, it is important to remember that the date range selected in the filters at the top refers to the date that booking was MADE, not the date of the customer visit with Santa, so you should always select a start date that reflects the day the booking site opened. I would usually use 1 October to ensure I capture all bookings in the search.

With this information, it does appear clear that the customer did in fact pay for their package (12 Christmas Cards) via a pre-booking, but the value of this payment did not transfer through to POS. Also note that the customer purchased an ‘add on’ when they visited & this sale was correctly processed by EFT.

In this situation the cashier should make a note in the Comments box of the reconciliation as follows:

Order 40400167 was prepayment 1515596613302816, processed as CASH – $40.95.

To determine the details of the second error, follow the exact same process by reviewing the EFTPOS payments journal.

When reviewing this list of transactions there is one that looks out of place. Our staff are trained to enter the RRN number from the credit card slip as the transaction reference & this amount appears in the description field in the report. RRN numbers are basically a record of the sequence of numbers transactions from the EFTPOS terminal & will start at 0001 at every set & go upwards from there. What this means is that the RRN numbers on a given day should be consecutive, however in this report you can see a number (1111) that does not fit the sequence. This is the transaction to investigate – click on the order number for details.

As was the case with the cash transaction we reviewed earlier, the Order detail shows a prepayment without a transaction value. If you again complete an order search in Santa’s VIPs you will be able to confirm it is a valid transaction & you would expect the cashier to enter a note along the following lines:

Order 40400163 was a prepayment 1511875785244358 processed as EFT – $39.95.

You have now confirmed that although there were mistakes made on the set for the day, overall, banking is correct & we have received all monies that we should have.

What follows is a series of other exercises for you to complete in order to hone your skills in finding & reporting on banking/transactional errors.

Exercise 6

Select 6 November 2021 in SkyePOS & click on deposit reconciliation

Hover below to reveal the answer.

In this exercise, Order 40400170 was a prepayment 1500397234880203 $42.95 but was processed as MISPRINT instead

Exercise 7

Select 1 November 2021 in SkyePOS & click on deposit reconciliation

Hover below to reveal the answer.

In this exercise, there are multiple errors, but by breaking it down one transaction at a time, they can all be clearly identified.

Transaction 22800114 was processed as cash instead of misprint. $25.95

Transaction 22800115 was processed as Cash but was actually prepayment 1577867213787222 $33.95

Total cash errors accounted for, but we still have a prepayment discrepancy. This second one is tricky to find & in some cases may entail each transaction being reviewed individually.

Doing this in this situation we discover that transaction 22800116/Prepayment
1574470163762845 was a booking that was moved from one site to another by our customer service team after their visit (click on More/Reschedule History to see details). This may be because of a customer request, or an on site experience service issue, but the result is that the revenue allocation in Santa’s VIPs has ‘followed’ the customer from the original set to the new set & subsequently even though there is a transaction in MacPOS, the matching pre-payment is no longer there.

In this case there is one transaction for $33.95 & another for $49.95, that account for the $16.00 total discrepancy ($49.95 – $33.96 = $16.)

Exercise 8

Select 2 November 2021 in SkyePOS & click on deposit reconciliation

Hover below to reveal the answer.

Transaction 22800211 processed as EFT actually prepayment 1562658413667242 $25.95

Transaction 22800238 processed as EFT actually prepayment 1547200896044352 $25.95

Total EFT error – $51.90 reconciled

Transaction 22800250 processed as cash actually prepayment 1491655011309053 $39.95

Transaction 22800242 processed as cash actually FP 1608860338202104 $49.90

The 4 transactions above match the total error in Pre-payments ($25.90 + $29.95 + $39.95 + $49.90 = $141.75

Transaction 22800246 duplicate of 22800245 – should have been misprint $25.95

Transaction 00800252/253 are duplicates, one EFT ($53.90) & one cash ($33.95). We can be confident of this due to:

  • Same photo code
  • 2 transactions very close in times

Even though the transactions are of different amounts, it appears that the customer has decided to add the Snow Globe & change payment method after the first transaction has been finalised as EFT balances (you could review the CC slips to be sure).

We have also explained a lot of our cash discrepancy with the last 4 transactions ($39.95 + $49.90 + $ 25.95 + $33.95= $149.75), which mean we are looking for a further $0.15 in errors.

Reviewing the cash payments journal you can see 3 separate transactions where a $0.05 refund appears to have been issued. The three would account for that final $0.15.