1. Overview

This document describes the new Undeposited Funds workflow for cash (Money) tender transactions processed through Readysell Point of Sale. The feature introduces a dedicated GL account to hold cash collected at POS until it is physically deposited at the bank, at which point a bank transfer is automatically created to move the funds from Undeposited Funds GL Account to the correct Commonwealth Bank GL trading account.

1.1 Why This Change?

Previously, all POS cash transactions were posted directly to the main bank trading account (eg 11501). This created a mismatch between the daily banking entries in Readysell and the actual bank statement dates and values, because cash collected across several days is often deposited as a single lump sum by date by site. The new process mirrors standard accounting practice: cash sits in an Undeposited Funds holding account until it is banked, then a bank transfer clears it to the main account.

1.2 Key Benefits

• Bank reconciliation lines now match the actual deposit date and value, not the individual transaction dates and value for each site.

• A single bank transfer per deposit run replaces multiple individual banking entries.

• Auto-matching by value, date, site and reference number (referencing back to the site) reduces manual reconciliation effort at month-end.

• Clear audit trail from POS shift through to bank statement.

1.3 High-Level Flow Diagram

2. Key Concepts

2.1 Tender: 1 MONEY (Cash)

The '1 MONEY' tender is the POS cash tender. Under the new setup:

• It is linked exclusively to the Undeposited Funds GL account (e.g. account 11555SUP-Undeposit Funds).

• It must NOT be used for Sales Order payments from the web (as the payment is actually made on the website, the store is not receiving the physical cash )or any non-POS purpose eg manually bank deposit or manual bank payments.

• Transaction types (CUSPAY, CBKDEP, CBKPAY etc.) must be removed from this tender and placed on the separate non-POS cash tender.

2.2 Undeposited Funds GL Account

A new GL bank account (asset class) is created specifically to hold cash received at POS before it is deposited. Example account code: 11555SUP-Undeposit Funds.

2.3 Non-POS Cash Tender (New)

A second, separate tender is created for non-POS cash transactions (e.g. customer payments, bank payments, bank deposits etc processed through Readysell client). This tender:

• Has 'Available on POS' turned OFF.

• Points to the main bank account (11501).

• Carries for all relevant transaction types (CUSPAY, CBKDEP, CBKPAY, etc.).

2.4 Deposit Run

A deposit run is the act of physically taking collected cash to the bank, potentially covering multiple days of POS shifts. Staff select the shifts to include, Readysell calculates the total, and a single bank transfer is automatically created with a unique reference number for each site that will appear on the bank statement and the workstation for each date for each site is stamped with that bank transfer date.

3. Initial Setup (Administrator / Readysell Support)

Step 1 – Create the Undeposited Funds GL Account

1. In Readysell, navigate to General Ledger > Chart of Accounts.

2. Create a new bank-type account in the Current Assets section.

3. Suggested code: 11555 | Description: Undeposited Cash Funds.

4. Ensure that the account is marked as a Bank Account and is active.

5. Save and note the full Account Site code (e.g. 11555SUP-Undeposit Funds).

Step 2 – Verify Tender 1 MONEY Usage

1. Navigate to Tenders and open the '1 MONEY' tender.

2. Confirm whether this tender is referenced in any Sales Order payment types from the web store.

Step 3 – Reconfigure Tender 1 MONEY

1. Open the '1 MONEY' tender in Administration > Tenders.

2. Change the Account and Account Site fields to the new Undeposited Funds account (e.g. 11555SUP-Undeposit Funds).

3. Change the Reconciliation Method to 'Reconcile by site'.

4. Remove all Transaction Types from this tender (e.g. CUSPAY, CBKDEP, CBKPAY). These will be assigned to the new non-POS tender.

5. Ensure 'Available on POS' remains ticked.

6. Count Required remains Ticked

7. Save.

Step 4 – Create the New Non-POS Cash Tender

1. In Administration > Tenders, create a new tender.

2. Set Tender Method: Cash.

3. Set Account Site: 11501 (Main Bank Account – Trading) or equivalent main bank.

4. Uncheck 'Available on POS' — this tender must NOT appear on POS.

5. Add the required Transaction Types: CUSPAY, CBKDEP, CBKPAY (and any others previously on 1 MONEY).

6. Save.

Step 5 – Configure System Reference (Cashbook)

1. Navigate to Advanced >System Types> Cashbook settings.

2. Set the Deposit Account to the main bank account (11501 or equivalent).
   
   

3. Open

   

4. Save.

Step 6 – Database Migration for Existing Shift Lines

Before the cut-over Sunday night, Readysell Support must flag all existing 1 MONEY tender shift lines with a dummy Deposited Date so they are not included in future deposit runs.

Step 7 – Confirm Cut-Over Date

1. Agree on the cut-over Sunday night date with the site (store) before proceeding.

2. Confirm no shifts are open at the time of the change.

3. Apply configuration changes after the last shift of the week is closed.

4. Notify Head Office finance team of the exact cut-over date so they can account for the transition period in bank reconciliation.

4. Daily Procedure – Store Staff

4.1 End-of-Day Cash Count

This procedure is unchanged from existing practice.

1. At the end of each trading day, store staff perform a cash count at each Retail POS workstation for all tenders.

2. Enter the counted cash amount in Readysell POS and submit the count to the server.

3. Readysell creates a shift-line/Shift-Detail/Banking record against the Undeposited Funds GL account for the counted value.

4. The cash remains physically at the store (in the safe or till) until the cash deposit run is performed.

4.2 What Readysell Creates Automatically

5. Deposit Run Procedure – Store Staff

A cash deposit run is performed when store staff take the accumulated cash to the bank. This may cover multiple days of shift counts and cash takings. The deposit run can be performed on any day — it does not need to match the transaction dates.

5.1 Creating a Deposit Run in POS

1. In Readysell POS, Click on the action button Cash Deposit Run module.

2. The screen displays all undeposited shift lines for the site, grouped by date and workstation. Example: Mon 1 Jan $100.00 | Tue 2 Jan $50.00 | Wed 3 Jan $25.00

3. Select the shift lines to include in this deposit. You may select all or a subset.

4. POS calculates the total deposit value automatically by combining all selected workstation amounts per date.

5. Enter the bank deposit Reference Number (provided by the bank or generated internally, e.g. 777714).

6. Confirm and submit the deposit run.

5.2 What Readysell Creates Automatically

1. Readysell creates a Bank Transfer (type: CBKTRN – Miscellaneous Cashbook Transfer):

2. From Account Site: 11555SUP-Undeposit Funds

3. To Account Site: 11501 Main Trading Account (or configured main bank)

4. Date: Date the deposit run is submitted

5. Value: Total of all selected shift lines

6. Payment Reference: The reference number entered in step 5 above (e.g. 777714)

7. The bank transfer appears in the Banking module and in the bank reconciliation for 11501.

8. The shift lines are marked as deposited and will not appear in future deposit runs.

6. Month-End Bank Reconciliation – Head Office Finance

6.1 Importing the Bank File

1. At month-end of the month or week, Head Office imports the bank statement file for the 11501 CBA Trading Account in Readysell Bank Rec as usual.

2. During the transition period following cut-over, account 11501 will contain two types of transactions:

3. Transactions from before the cut-over date (old process – direct POS banking entries).

4. Bank Transfer entries generated by the new deposit run process (new process).

5. Reconcile each type using the appropriate method described below.

6.2 Automatic Matching

Readysell will attempt to auto-match bank statement lines to bank transfer records using three criteria:

6.3 Manual Matching

Where auto-matching fails (e.g. reference mismatch, timing differences), finance staff can manually match lines:

1. In the Bank Rec screen, use the Statement Lines panel on the right.

2. Identify the unmatched bank statement line.

3. Locate the corresponding bank transfer entry in the left-hand panel.

4. Select both lines and click 'Match Selected'.

6.4 Transition Period Guidance

7. Setup & Beta Testing Checklist

Use this checklist to verify all configuration steps have been completed before going live.

8. Quick Reference Summary

Account & Tender Configuration

Role Responsibilities

Key Terms