A shift record holds six cash totals: opening cash, pay-ins, pay-outs, cash sales, refunds, and the closing balance, according to Loyverse.
Key takeaways for record six cash totals before closing the shop till
- Write down opening cash, pay-ins, pay-outs, cash sales, refunds, and closing balances before the drawer shuts, as listed in Shift Management in Loyverse POS according to Loyverse.
- Calculate the expected cash amount from cash sales, refunds, and pay in/pay out operations, a method described in Shift Management in Loyverse POS according to Loyverse.
- Count the actual cash amount physically in the cash drawer to compare against the calculated figure, as defined in Shift Management in Loyverse POS according to Loyverse.
- Add a cash float before beginning trading for the day if your business trades with cash, a step required in Opening and closing a register – Lightspeed Retail (R-Series) according to Lightspeed.
- Review the Expected amount for each payment type in the Close register modal when closing, a view shown in Opening and closing a register – Lightspeed Retail (R-Series) according to Lightspeed.
Record opening cash, pay-ins, pay-outs, cash sales, refunds, and the counted close before you shut the till
The first total you enter is the opening cash amount, defined as the amount of cash in the drawer at the start of the working period, according to Loyverse. This figure establishes the baseline before any transactions occur. The remaining five totals track the movement of money during the shift. Pay-ins represent cash added to the drawer, while pay-outs represent cash removed from it. Cash sales capture the revenue generated from customers paying with physical currency. Shelf counts for the goods sold are covered in Count shop stock: 4 apps compared for small retailers. Refunds account for cash returned to customers for returned items or canceled transactions. For items that go back on the shelf, read Check 4 refund fields before stock goes back on shelf. Finally, the closing balance is the total cash physically present in the drawer when the shift ends.
Writing these six figures down creates a complete picture of the cash flow for that specific period. By recording this amount before sales begin, you separate the initial float from the money earned during the day. The other totals—pay-ins, pay-outs, cash sales, and refunds—modify this baseline throughout the shift. The closing balance is the final physical count. Comparing the sum of the opening cash, pay-ins, cash sales, minus pay-outs and refunds, against the counted closing balance reveals whether the drawer matches the expected amount.
What each of the six totals means on a shift record
In Opening and closing a register – Lightspeed Retail (R-Series), the system requires you to open your register and add a cash float if your business trades with cash before you can begin trading for the day according to Lightspeed. This float represents the starting capital that allows the shop to make change and process cash payments immediately.
The expected cash amount is a calculated figure derived from the day's activity. Shift Management in Loyverse POS states that the expected cash amount is calculated from cash sales, refunds, and pay in/pay out operations according to Loyverse. This calculation aggregates the financial movements that should have occurred during the shift. Cash sales represent the total value of items sold for cash. Refunds subtract the value of items returned to the customer. Pay in operations add cash to the drawer, while pay out operations remove cash for expenses or bank deposits.
When you close the drawer, you physically count the cash inside. This counted amount is compared against the expected cash amount to verify accuracy. The opening cash amount serves as the starting point for this comparison. If the business uses a cash float, that amount is included in the opening cash figure. The difference between the expected cash and the counted cash indicates whether there is a shortage or an overage.
The six totals are: 1. Opening cash 2. Pay-ins 3. Pay-outs 4. Cash sales 5. Refunds 6. Counted close
Illustrative example of one close sheet
Write six lines for a single shift using round figures only. Opening cash is 175. Pay-ins are 20. Pay-outs are 45. Cash sales are 610. Refunds are 25. The counted close is 770. Expected cash is the figure calculated from cash sales, refunds, and pay-ins and pay-outs, then written beside the counted close. The person who closes compares those amounts on the sheet the same day and notes the gap if they differ. The figures show the layout of the sheet, and they are not a real shop's totals.
How each publisher asks you to compare expected cash with counted cash
In Shift Management in Loyverse POS, the interface defines the "Actual cash amount" as "the amount counted physically in the cash drawer," according to Loyverse.
In Opening and closing a register – Lightspeed Retail (R-Series), the system presents an "Expected amount for each payment type" within the Close register modal, according to Lightspeed. The documentation notes that under the "Total Remaining" column, you will see "how much you should be entering in your closing count for each payment type," according to Lightspeed. By default, the amount in the "Closing Count" field matches the amount in the "Total Remaining" field, according to Lightspeed. This setup allows the user to verify if the physical cash aligns with the system's projected total before finalizing the session.
In Point of Sale — Odoo 18.0 documentation, the procedure involves opening the "Closing Control pop-up screen," according to Odoo. The documentation instructs the user to "count your cash using the calculator icon" before closing this window, according to Odoo.
Write down the expected amount and the counted amount on your close sheet to document any difference.
Filled reference table of close rules by publisher
| Publisher | Close Rule or Screen Behavior |
|---|---|
| Loyverse | It records opening cash amounts, pay ins, pay outs, cash sales, refunds, and closing balances, according to Loyverse. |
| Loyverse | Enter the opening cash amount—the amount of cash in the drawer at the start of the working period, according to Loyverse. |
| Loyverse | Expected cash amount – calculated from cash sales, refunds, and pay in/pay out operations, according to Loyverse. |
| Loyverse | Actual cash amount – the amount counted physically in the cash drawer, according to Loyverse. |
| Square | Cash drawers that are open for over 30 days with at least 7 days of inactivity are automatically ended, according to Square. |
| Square | Remember to upload offline payments within 72 hours of taking your first payment, according to Square. |
| Lightspeed | Before you can begin trading for the day, you need to open your register and add a cash float if your business trades with cash, according to Lightspeed. |
| Lightspeed | Under the Total Remaining column, you'll see how much you should be entering in your closing count for each payment type, according to Lightspeed. |
| Lightspeed | The amount in the Closing Count field matches the amount in the Total Remaining field by default, according to Lightspeed. |
| Lightspeed | This takes you to the Close register modal where you'll see an Expected amount for each payment type, according to Lightspeed. |
| Odoo | Doing so opens the Closing Control pop-up screen, according to Odoo. |
| Odoo | Before closing this window, count your cash using the calculator icon, according to Odoo. |
Which record-keeping periods are not a rule for every till tape
The Internal Revenue Service lists specific situations that trigger different record-keeping periods, none of which are universal rules for every shop’s daily drawer close. On its page titled “How long should I keep records?,” the agency states: “Keep records for 3 years if situations (4), (5), and (6) below do not apply to you,” according to Internal Revenue Service. This 3-year baseline applies only when the other listed conditions are not present.
If you file a claim for a credit or refund after filing your return, the page specifies: “Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return,” according to Internal Revenue Service. This period is tied strictly to the act of filing a post-filing claim, not to routine daily cash reconciliation.
A 7-year period applies in a distinct scenario: “Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction,” according to Internal Revenue Service. This rule concerns claims for worthless securities or bad debts and does not relate to standard till tape retention or daily cash counts.
A 6-year period is triggered by unreported income: “Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return,” according to Internal Revenue Service. This condition applies only when significant income is omitted from a return and is not a guideline for how long to keep a single day’s close sheet.
These periods are tied to specific tax filing events and income reporting thresholds, not to the daily practice of closing a cash drawer.
What to write down from the last close
Take a sheet of paper and list the six totals from your most recent shift close. The first line is the opening cash amount, which is the float you placed in the drawer before sales started. The second line is pay-ins, representing money added to the drawer during the shift. The third line is pay-outs, covering money removed from the drawer for expenses or other reasons. The fourth line is cash sales, the total amount of cash collected from customers. The fifth line is refunds, the cash returned to customers for returned items. The sixth line is the closing balance, the amount of cash physically counted in the drawer at the end of the shift.
Cash close FAQ
Which six totals should I write down before I close the till?
The shift record in Loyverse POS records opening cash amounts, pay ins, pay outs, cash sales, refunds, and closing balances according to Loyverse. Write these six figures on your close sheet to match the specific fields the system tracks. This list defines the standard components for a shift record in that product.
What is the difference between expected cash and the cash I count?
The expected figure relies on transaction data, while the actual figure relies on physical counting. Expected cash amount is calculated from cash sales, refunds, and pay in/pay out operations according to Loyverse. Actual cash amount is the amount counted physically in the cash drawer according to Loyverse.
Does every till brand end an open drawer after 30 days?
This is a specific limit for Square and not a universal rule for every till brand. Cash drawers that are open for over 30 days with at least 7 days of inactivity are automatically ended according to Square. Check your own software’s documentation for its specific session limits.
How long do I have to keep the close sheet?
The IRS lists several periods depending on the specific tax situation, not a single rule for all till tapes, according to Internal Revenue Service.
What do I do if the counted cash does not match the expected cash?
Record the difference between the expected and actual amounts on your close sheet. Investigate the transaction history to identify any missing entries or errors in the pay operations.