Daily close

sdgr35

I was told to never do a daily close. we are in our office only 3 days a week between 10-2pm. How does this affect the numbers? Not sure why either? 

themage

Your system may be set to close automatically, in which case manually closing would be unnecessary. Someone else in the organization may close it when they audit the numbers.

We used to close twice a week when the manager would balance everything (we would balance daily, too, but the owner liked bank deposits to match the closing numbers).

Now the system closes automatically around midnight every night and we have the bank make each days deposit a separate line item.

MamaDuke7

Maybe your system is set to do one automatically?

Otherwise, I can't imagine why you wouldn't do one.  

teamcapitola

I've been told that you can run sitelink and only perform a Daily Close once a week or even once a month. Depends on how your store does their accounting.

having the system auto-close wouldn't allow you to audit the day first (check amounts correct, cash & C/C count etc.) so I would think that isn't done much?

We do a manual close every day, knowing that anything done that day is "set in stone" once we close it. The closing person doublechecks everything and makes sure the board is "green" prior to closing.

I'm not sure why you would want to, but I don't know if it would affect your numbers... I'd assume that it wouldn't, but don't quote me.

themage

We balance all transactions at the end of office hours, so the only un-accounted for items in the automatic close are any credit card payments over the web between office close and midnight.

ESS

themage said:

We balance all transactions at the end of office hours, so the only un-accounted for items in the automatic close are any credit card payments over the web between office close and midnight.

This is the way we do it, as well. A daily close at the end of every business day and auto-run for after hours & Sunday transactions.

GSI03

We do a daily close every day we are open (6 days) and it also runs a midnight close.   Our accounting dept looks at every close and every deposit to make sure everything matches.