Point of Sale (POS) Glossary
The opening amount in a point of sale register is the amount of money in a cash drawer to start the day, shift, or another employee taking over a register position. Cash drawers are usually equipped to make change by putting a variety of different denominations in the drawer. This opening amount is entered into a point of sale system, which keeps track of the transactions until the register is balanced when the POS terminal is closed out.
Usually, only one employee is responsible for a register. Balancing the register makes the employee who ran the register accountable for the cash. If there is money missing, management must determine if it was due to a mistake or theft and then act per the store’s policies and procedures.
As a savvy small or medium-sized business owner, you know that you can’t outsell the giant mega-store. You build your customer base because you provide excellent service, an enjoyable shopping experience, and a fantastic value.