How to use the Manage Vault feature?
The Manage Vault feature allows you to control how much money is being allocated for check cashing. For example, you may bring a certain amount from the bank and part of that money may go to your vault while the rest may go the cash register where the check cashing service will be conducted. This feature allows you to stay on top of the cash flow with ease and all you really need at the end is our Vault Log Report to simplify the process for you.
To get started, you first need to add or modify the accounts where the cash will be flowing through.
Go to Cash Management > Manage Vault Account
You will notice two pre-existing accounts labeled as Bank and Station 1. A third account is created in the bank end (not visible) called Vault. If you have a second register you may add station 2 as your next register and if you manage more than one bank account for check cashing, you may create another bank account as well.
*Make sure the type of account value such as the Account Linked to Station ID has the same values as the former accounts you are creating (i.e. Bank, value -1, Bank2, value -1).
Now, go to Cash Management > Manage Vault
- The vault information window allows you to document the cash you move around your bank > vault > register.
- For example if you brought $10,000 from your bank and want to place $7,000 in your vault and the remainder $3,000 in your cash register you would follow this step:
From Bank to Vault > Amount $10,000 > Notes: Transfer from Bank
From Vault to Station > Amount $3,000 > Notes: Check Cashing Cash and Add Transaction
- Now you have $3,000 allocated for check cashing that will be counted towards your check cashing activity and will be noted when closing a shift.
- The amount that remains in the vault can be put back to the bank if taken back or can be added to the station if more money is allocated for check cashing.
Need to monitor the cash flow activity? Go to Cash Management > Vault Log Report
- The Vault Log Report allows you to see the overall cash flow activity. Remember this information is only available if you logged the money in/out from bank to vault to register.
- You may filter this report by date and time.
- You may also see time/date when money was moved around, from and to accounts, amount, balance and if there was a revision to the entries.
If you have any questions, contact customer support.
