The point of sale (POS) is the spot where the customer makes a payment for goods or services that are offered by company or retailer. A retail point of sale system typically includes a cash register (which comprises a computer, monitor, cash drawer, receipt printer, customer display and a barcode scanner) and the majority of retail POS systems also include a debit/credit card reader.
Cash drawers are one of the core components to every Point of Sale System. It has separate compartments for coins and bills of different denominations. Money, credit card receipts, and other paperwork are stored here. It can be printer or terminal driven. This piece of hardware receives a signal from the computer or receipt printer and opens when necessary. A Workstation can have one or two drawers attached. Programming determines which keys and employees have access to each drawer. Cash drawers can also be locked or opened in emergencies with a particular key.
A cash drawer can be set to automatically open when to process a cash payment and print a receipt to the printer the cash drawer is plugged into. When a cash payment option is selected at a table, order, or cash register, the drawer will automatically pop open.
There are many different elements of cash drawer quality. Durability, reliability, and length of warranty are just a few factors. Heavy duty cash drawers typically feature steel ball bearing slides, sturdy latch mechanisms, long-lasting till design and a finish capable of withstanding daily environmental abuse. This type of drawer is typically suited best for those businesses with high traffic or periods of heavy use. Standard duty cash drawers are ideal for businesses with light to medium traffic. Standard drawers have reliable, roller wheel suspension designed to last with light to medium use.
If purchasing the components of the POS system separately, be sure the cash drawer is compatible with the rest of the system. It should be sturdy and withstand the constant opening and closing. Cash drawers need to work on some policies and procedures for transactions, which include verifications from one to hand to another hand. Reduces the possibility of blind remittance. Signed cashier policies which include maintaining cashier personal files. Time to time removal of excess cash from the drawer to avoid mishandling or loss. Foremost training to the team in terms of handling alleged imitation, fake credit/debit/gift cards etc.
Now the policies are decided upon and the procedures are applicable, it is important to communicate to the well-trained cashiers about the handling and on regular basis inspection is needed. Instruct the team to function with minimal errors and maximum efficiency so as to reduce or restrict the cost and make it a cost-effective process. If the individual cashier’s performance is routinely outside of the established acceptable performance levels, they must be dealt with accordingly.
Customer handling is the tricky and difficult task; At times the most efficient cashier does face issues related to customer handling. But, the key to cash management system is to have fine measures, proper routine, understandable outlook and authority. Which makes you more ready for action in the market.