AJAR.id – Hello Ajarian! A cash float, also known as ‘the float’ is the amount of money that an establishment has deemed appropriate to commence the day’s trading for a cash register/point-of-sale (POS) terminal.
Cash float can be found in the cash drawer of the cash register/POS terminal. A cash float is necessary for giving out change when completing a financial transaction because customer rarely provide the exact amount of money to settle an account.
If you are responsible for counting cash float, here are some points to note:
- You may need to sign for the float to prove that you’re have take the responsibility of it
- You need to make sure the amount said to be in the float is accurate and consistent with actual amount found in the cash drawer
- Count the float before signing it or immediately after signing for it to ensure the contents. It is too late if you’re counting it at the end of the shift
- Some restaurants or hotel may have two process of cash float counting - they require the person handing over the float to count and sign in relation to the float and then the person receiving the float also has to count and sign for it
- If you detected a discrepancy in the amount of the float, you should ask the person who delivered the float to double-check it
- Once float is collected, place it in a secure location. Normally float will be saved in a cash drawer in the cash register
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Written by: Alan Hickman, Nick Hyland
Subject Matter: Take Food Orders and Provide Table Service