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Daily Store Deposit and Closing Procedures

This document outlines the steps for processing daily deposits and closing the store day. It also includes best practices for ensuring accurate end-of-day accounting.

Part 1: Deposits

The Daily Deposit function allows for end-of-day payment accountability for your counter employees and bookkeeping staff.

How to Process a Deposit:

 

1.) Navigate to the Bookkeeping View:

Go to Views>Bookkeeping

2.) Access the Deposit Funds Screen:

Click on the Deposit Funds icon on your toolbar.

3.) Verify the Date:

Ensure the date displayed on the screen is the correct store date you wish to deposit.

4.) Enter the Total Deposit:

Input the total deposit amount, including all Cash, Checks, and Credit Card payments received for that store date. These may come from invoices, payments, and/or miscellaneous receipts.

5.) Post the Deposit:

Click on the Post Deposit button.

6.) Review the Store Deposit:

On the Store Deposit screen, verify the over/short summary and review the breakdown of each payment type listed at the bottom.

7.) Proceed to Store Daily Closing (part 2):

If everything looks good, you can move forward to closing the store day.

 

8.) Make Adjustments if Necessary:

If adjustments are needed, determine the difference and enter the difference in the Deposit Amount field and click Post Deposit again. Example: If you originally entered $600, but the deposit was actually $500, enter the -$100 to correct and post the revised deposit amount. Please note that adjustments can be negative. Contact Technical Support if you need assistance.

 

Option Settings:

  • Multiple deposits can be made on a single store date, and adjustments can be posted if necessary. However, once a store date is closed, no further deposits or adjustments can be made.
  • Note: Users must have password permission to post a store deposit (P24). Contact your system administrator to grant this permission.

 

Part 2: Daily Store Closing Procedure

The daily store closing is a crucial part of your closing routine, generally performed every day. You can leave multiple store days open at once if needed. Store days must be closed in order by date, and if you are a multi-store user, the closing is performed per location. Closing the store finalizes data, ages A/R accounts, and correctly tracks sales history. Once a store date is closed, it cannot be reopened.

How to Perform a Daily Store Closing:

 

1.) Navigate to the Bookkeeping View:

Go to Views>Bookkeeping

 

2.) Access the Daily Closing Screen:

Click on the Daily Closing icon on the toolbar.

 

3.) Verify the Store Date:

Ensure that the date displayed in the Store Date to Close/Verify field is correct.

4.) Run the Report Without Closing (Optional):

Check the Verify Only – Do Not Close box to run the report without actually closing the store date.

5.) Check Cash Over/Short:

The Cash Over/Short amount should be near or at $0, based on the deposit. If the amount is significantly off, ensure all deposits are correct before proceeding.

6.) Optional Backup:

When the Verify ONLY – Do Not Close is unchecked, choose your backup mode (CSV or PDF) for saving a safe copy of inventory and customer files. To include inventory cost, check the Show Cost box.

7.) Delete Old Quotes:

You can edit the date beside Delete Old Quotes On Or Before. It defaults to two years prior and will delete quotes older than this date. You may uncheck this option if you prefer not to delete old quotes.

8.) Run the Report & Close the Store Date:

Click on the Run Report & Close Day button. A warning will prompt you to confirm the store date before closing. If correct, click OK to finalize the store closing and run.

9.) Save or Print the Report:

After closing, you can save or print the report for your records.

Option Settings:

  • Once a Store Date is closed, it cannot be reopened unless no business was posted on that date.
  • Note: Users must have password permission to close store dates (P22). Contact your system administrator to grant this permission.

Part 3: Best Practices for Daily Closings

1.) Run Reports:

It’s best to run necessary reports at the end of each store day. These reports are accessible through the Reports View. Recommended End of Day reports include:

    • Daily Close Out – Report on Store Sales by Sales, KPIs, Department, Tendered Totals (cash, check, credit cards), A/R Totals.
    • Store Recap – Report of sales, profit, GP as well as a register summary, and AR sales for the day.
    • Department recap – Report sales and unit sales by Department.
    • Payment Recap – Report sales payment totals by payment type (cash, check, credit card, or deposit) for transaction types (Invoices or ROA).
    • Vendor Receipts – Report all Receipts for the day by vendor (Can be used to track Purchase Order, Transfers, and Returns).
    • Sales Rep Journal – Can be used to track commission for each Salesrep.
    • Tech Journal – Can be used to track commission for each Technician.

 

Contact the HITS Technical Support Center for personalized assistance.

2.) Posting Functions:

Posting functions, including paid outs, miscellaneous receipts, and store deposits, should be completed before closing the store date.

3.) Backup Data:

Always backup your data before finalizing the store closing. Choose the format that best suits your needs.

Technical Support

HITS Technical Support: Mon-Fri: 8:30 am – 4:30 pm EST
Phone: (800) 422-2032
Email: tech@aasys.com
For after-hours emergency support, use the 24/7 number provided with your software.