Empower your team to easily perform end of day takings/reconciliation. You can minimise cash variances and ensure accountability by conducting regular takings every end of trade or end of shift. This guide covers how to perform takings on your Lightspeed POS.
Watch this video to see just how easy it is to perform takings on Lightspeed.
What's in this guide?
What takings are and when to do them
You might call it your takings, cash up, z-read or reconciliation. The takings process allows you to quickly and easily compare actual payments taken with orders put through the POS so that you can track and control your revenue by payment type.
We do recommend that you perform your takings at least daily or by shift if you have longer trading hours. Performing your takings regularly will allow you to see much more clearly when, with whom, and how discrepancies occur.
Configure your takings workflow
Depending on the workflow in your business, your takings may get counted by different staff or at different (or multiple) times of the day.
1. Under Sites from the Back Office, select Site Information
2. Scroll down to Takings reconciliation. Select one of the three:
By Register - If you need to count each registers takings separately (e.g. each register has its own dedicated cash drawer)
By Site - If you finalise your takings across all your registers together, or if there are multiple registers but only 1 cash drawer, then this is the option for you.
By Staff - Generally a very niche use case, however, if you need to finalise takings by staff member then we would recommend that they have their own register (and use the By Register Takings method) or at the very least their own cash drawer so that there is no confusion come takings time as in this setup, the users would need to reconcile the total from the sales that they themselves finalised.
3. Select Save
How to Finalise Takings
1. From the Lightspeed Kounta POS, select the menu icon in the top left of the screen
2. Select Takings
Note - the elegant & power-saving dark mode is now available on Lightspeed POS. Check out this guide on how you can activate it.
3. If you still have open orders, you will be prompted with this dialogue box. Finalise your open orders before continuing. You can also complete your takings without finalising open orders if needed.
4. You will be taken to the Takings page where you can enter the counted amount for each payment type.
To enter in your or cash takings totals click in the white box next to 'cash' - the system will then give you the option to enter either the total counted amount or denominations.
The 'Counted' option will prompt an interface with numbers where you can enter in the total amount counted:
The 'Denominations' option will prompt an interface with all denominations of 100 so that you can enter in the totals for each denomination:
For card payments through an integrated EFTPOS - the field will not be editable because the payment here doesn’t need to be counted
For card payments through an unintegrated EFTPOS - these are card payments that are recorded manually. You would need to enter the amount counted in the provided fields. The same goes for other manually created payment types.
5. Select Finalise Takings
If you have the Tipping add-on enabled and the permission to withdraw tips as cash is enabled you will be prompted if you’d like to withdraw tips at this stage - this will be recorded in Takings as Money Out.
6. Next, you will be taken to Takings History. Here, you can review the takings history slip and print it out if needed.
The takings history contains the recorded amount (from finalised sales) v. the counted amount (from finalised takings) v. the variance between the two.
A breakdown of payments, tips and cash out can be found further down the slip.
View Reconciliation Report
Note - The reconciliation reports are point-to-point and therefore differs from the sales reports. The reconciliation reports will be generated based on when you last did takings. If, for example, you do takings every two days, then the reports will be for that duration of two days.
Take action on your data to bank the expected revenue, every time.
With Insights’ Reconciliation Dashboard, you can see data trends of when or with which staff these variances happen. Then you can take action to better secure your revenue. If you don't know how you can minimise variances, let your data talk through the Reconciliations Dashboard.
In Back Office
The Reconciliation Report is a summary of takings. Compared to Insights's Dashboard, it is more basic so it's good for basic backtracking. It consists of Payment Breakdown, Sales, Payments, Tips, Money In/Out, and Adjustments.
1. Under Reports from the Back Office, select Reconciliation
Use the filter to display reports based on timeframe, site, staff, or register.
2. Select the eye icon to view the report
3. The report will open as the Payment Breakdown first. You can select Sales, Payments, Tips, Money In/Out, or Adjustments to zoom in on these details.
Frequently Asked Questions
Do I need to grant special permission for my staff to finalise takings?
Yes. Staff must be granted permission from the People Page under Advanced POS Permissions. You would need to tick Finalise Takings.
Can I edit the takings amount after I have finalised my takings?
Once the takings are finalised, these are locked from editing to ensure the security and accuracy of the counts. If you missed some of your counted money from your takings you can enter a second takings immediately afterwards with the extra amount included.
Can I edit the payment type for an order after it is paid?
Once orders are finalised, it is locked from editing. If you have entered the incorrect payment type during checkout, simply refund the order and enter again with the correct payment type.
Can I opt to not show my staff the expected amount for takings?
There is an option to hide the expected amount for takings (based on the recorded sales) from the staff - this is sometimes preferred to make sure that the staff enters the exact counted amount when finalising takings - not just skipping ahead and entering “perfect counts” which should be generally uncommon.
This setting is made in the People Page under Advanced POS Permissions. You would need to tick View Current Takings.
What's my next step?
Now that you're recording your takings regularly, use this wealth of data to help you secure your revenue and minimise variances. Check out the Reconciliation Dashboard on Insights.
Integrating EFTPOS payments make one step of finalising takings a lot easier. You have plenty of payment integrations to choose from that work well with Lightspeed.
Have you added in your staff? This is absolutely necessary for takings.