POS SOFTWARE

In SMBs today, cash is a problem. It is often the target of robberies because they usually have less security than banks. It would help if you considered whether it is possible to reduce your risks with cash handling by switching to EFTPOS or credit cards. This reduces the problems of theft and cash handling. One valuable skill here is knowing how to count money fast. 

The bank's first question is, are you a customer of there's? In my experience, not being a customer of there's gives better rates. Sad but true. Then they want to know how much you collect in EFTPOS and credit cards. Generally, they look at two variables. The amount of money you collect. Then the average size of the transactions you take. The higher your collection figure and transaction size, the better.

Your point-of-sale software has a potent tool to see this breakup instantly.

Go to the main menu and select "End of day."

Click where it has a green arrow.

Now in your Options menu marked in a green square, tick everything. You will not be sorry if you get too much.

 

The part of the report you are looking for is the Sales Payment Breakup below.

Pick an appropriate period, generally the last year. Running it a few times with slightly different dates as you may get a better value with different dates. One caveat here is that cash receipts are going up slightly now.

This will supply you with the information you need for the banks.

 

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