Understanding Cash Drawer Receipting

Instances may occur in which your business needs to recognize the receipt of cash from a customer and to record the receipt of the payment into a cash drawer. Business needs may also require that you provide a written or printed acknowledgement of the payment received and that this receipt be immediately available to give to customers for each transaction.

The cash drawer component enables you to track money received from a customer and record it in a cash drawer. A cash drawer receipt can be created to record the money received. The receipt that is recorded can be made up of multiple payment methods. For example, if a customer wants to pay 100 USD to his or her account, the customer can choose to give you 70 USD with a check and 30 USD in cash. You can create one receipt for the 100 USD payment, and the receipt will detail each of the payment methods.

At the end of the day (or whatever time period you choose), you can reconcile the receipts that have been recorded into a cash drawer. This reconciliation process consists of manually counting all cash and checks that have been collected during the time period and comparing the actual counts with the system-recorded receipts. After the cash drawer has been reconciled, you can send the payments recorded in the cash drawer to the PeopleSoft Receivables payment staging tables to have payments created in the Receivables product. From Receivables, you can apply the payments as any other payment recorded in Receivables by using the Payment Worksheet or Payment Predictor process (ARPREDCT). Also, after a cash drawer has been reconciled, you can generate a deposit slip to assist with the nightly bank deposit.