How to set up cash management
This feature is available on our Schedule and Sell plan; everything you need to take your business to the next level. Find out how to upgrade in our How to change your Timely plan guide.
Being able to easy reconcile your day's takings is key to staying on top of your day-to-day business.
In Timely, you can record your sales and petty cash expenses in your sales register, then perform a cash up at the end of the day to reconcile this against what's in your till.
This gives you visibility over what's coming in (and going out) of your business and let's you know what to expect in the bank.
In this guide we'll cover how to:
- Enable cash management.
- Adjust your staff access settings.
- Open the sales register.
- Switch between sales registers.
- Record petty cash expenses.
- Perform a cash up at the end of the day.
Enable cash management When cash management is enabled, each location will have their own register that needs to be opened and closed each working day. The location and the register are explicitly linked, but you can raise a sale for a booking at one location using the register at another location.
- Head to Setup > Sales settings from the main menu:
- Scroll down to the Cash management section at the bottom of the page:
- Check the box next to the Enable cash management option:
- Click Save to apply.
Note: Enabling cash management will require you to select a register for each sale, this will also apply to any other staff members that are currently logged in.
Disabling cash management
If you don't want to use the register, then you can disable this feature at any time by unchecking the same box.
Once this is disabled, you will still be able to access any historic invoices and cash up reports, but you will no longer be able to record petty cash or perform a cash up.
If you decide to enable this again, we'll pick up where you left off. Any sales raised after the register is enabled will be process through the registers and will be included in the cash up process.
Adjust your staff access settings Any staff member that has access to raise (their own or all)
Sales will be able to
Open the register.
- Login as the account holder (staff access settings are only available to account holders).
- Head to Account > Staff access from the main menu.
- Click Edit next to the staff member you wish to update:
- Scroll down to the Sales section, this will need to be enabled for the Cash management options to show. Either For all staff, or For staff member only will be supported:
- Check the box next to Petty cash access to allow staff to add petty cash:
- Check the box next to Cash up access to allow staff to perform a cash up:
- Click Save to apply your changes.
- Repeat for any remaining/relevant staff.
You then have the option to determine if staff have access to record petty cash, and/or cash up functions:
Open the sales register You will need to
Open the sales register before you're able to record a petty cash expense, or raise an invoice.
- Click on the register in the top right corner and select Open register from the options:
- If you try to raise a sale before opening the register, you will be prompted to Open the register when you Save the invoice.
- On the Open register pop up you will see the date, time and staff member who is opening the register:
- You will then be prompted to Set cash float amount. This will be based on the previous days closing float, but it can be updated to any value.
- Click Open the register to complete the process.
- If you have multiple registers, then you can repeat the process for each register.
Note: If you have multiple locations, then you will need to switch between registers to assign payments to the appropriate register.
Having an invoice assigned to a specific location won't automatically assign the payment to the same sales register. See below for more information on switching registers.
Switch between your registers If your business has more than one location, we will automatically create a register for each location when cash management is enabled. Locations and registers
aren’t explicitly linked, so bookings that take place at
Location A can be processed through
- In the top right corner of your screen, you will see the current register selected. Click on this and choose Switch register from the options:
- You can then click the circle to select which location/register to switch to:
- Click Switch to confirm the change. Any sales you raise will now be assigned to that register:
If you need to switch between registers at any point (e.g. you're a staff member that works between two different physical locations), you can switch between registers from anywhere within Timely.
Record petty cash expenses You may need to take cash out of the till during the day, for business expenses occurred during the cash.
To make sure that your till matches what's recorded in Timely, we have a "Petty cash" feature that allows you to record when cash is removed or added to the till.
Check out our How to record petty cash expenses guide for more detailed instructions.
Perform an end of day cash up At the end of the day, you can perform a "cash up" to close the register and tally up your sales totals for the day.
This will allow you to reconcile the transactions recorded in Timely against what you have you in your till/on hand. This also locks any sales and payments included, so they can't be edited or updated.
This generates a cash up report that gives you an overview of that day's taking, with a breakdown for each payment type. You will be able to make notes to account for any discrepancies, which will be included in the report.
Check out our How to perform a cash up guide for more detailed instructions.