The OpenBusiness gives you a Cashbox which is a way of managing cash flow in your Business. The cashbox is meant to assist OpenBusiness users to manage cash and see their transactions. At each given time, the Business owner knows what is in the Cashiers cashbox.
In the Cashbox you will be able to see the summary of transactions you have done as well the transactions for your cashiers and employees.
With the cashbox, you can perform transactions like Deposit, Withdraw, and Reconcile.
Depositing to the Cashbox allows you to add money to your cashbox either as Float or receive Credit repayments from customers.
Withdrawing from the Cashbox could either be because of
- Stock purchases
- Salary Advance
- Refunds to customer
- Other expenses
- Debt repayments
- Petty cash payments
- Depositing to other cashiers
After a cashbox withdrawal by a Cashier or Employee the Business Owner receives an email notification concerning this withdrawal.
The business owner performs cashbox reconciliations periodically to balance money received after sales in readiness for the next phase.