Tills are assigned at the beginning of each day. The cash management portion of Odyssey is used to facilitate the balancing
of currency, checks, and other payments taken against the computerized record of transactions for the day.
Depending on your business needs, a till can be assigned to one user or multiple users. If necessary, you can even create
an unassigned till, which can be used by anyone with the right to take transactions.
Tills are balanced at the end of the day after they are closed to prevent additional transactions from being added. A till
cannot be reconciled while it is still open. However, a user can reopen a till and make additional changes as long as the
till has not been deposited. After a till is deposited, it can never be reopened.
Example of Till Usage
At the beginning of a cashiering shift, a bookkeeper will assign a till to a cashier with a known amount of starting currency.
In some cases, multiple cashiers may work out of the same till.
The cashier opens the cashiering station and logs on to the cashiering station, which automatically links the cashier to a
specified till. The cashier enters fee charges, takes payments, makes change, posts credits and charge reductions to accounts,
and enters adjustments and other non-cash transactions.
The cashier closes the cashiering station and takes the till to the bookkeeper. The closing process ensures that additional
transactions cannot be posted to the till.
The cashier and bookkeeper both calculate the amount of money in the till, including cash and card transactions. The bookkeeper
then runs a transaction report, which shows that the cashier took in a specified amount during the day’s business, and reconciles
the cash drawer. The initial reconciliation shows that the cashier took in too much.
The bookkeeper performs a detailed reconciliation, matching physical receipts to the transaction report and balancing checks,
cash, and other payment types to look for a transaction error, making correcting transactions if necessary.
The bookkeeper determines that the transaction report is correct and records an overage for the cashier for that shift.
At the end of the day, various closed, balanced tills are assembled into one or more deposits and deposited with the county
treasurer, auditor, or bank, according to local procedure.