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Chapter 16 Using Math in Sales 1 Marketing Essentials Chapter 16 Using Math in Sales Section 16.1 Cash Registers
Chapter 16 Using Math in Sales 1
Marketing EssentialsMarketing Essentials
Chapter 16 Using Math in Sales
Section 16.1 Cash Registers
Chapter 16 Using Math in Sales 2
SECTION 16.1SECTION 16.1
What You'll LearnWhat You'll Learn
The three general functions of all cash registers
The arrangement of currency and coins in a cash register drawer
The two methods of making change The two most important rules for safeguarding
money at the cash register The general content of sales checks and the
basic ways of generating them
Cash RegistersCash Registers
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SECTION 16.1SECTION 16.1 Cash RegistersCash Registers
Why It's ImportantWhy It's Important
Your customer's decision to buy does not conclude the sales process. You must record the transaction and present the customer with proof of payment—or secure a promise to pay in the future. In this section, you will explore cash register operations. You will learn the basics of operating both manual and electronic registers.
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SECTION 16.1SECTION 16.1 Cash RegistersCash Registers
Key TermsKey Terms
sales transaction
Universal Product Code (UPC)
Universal Vendor Marketing (UVM) code
till
opening cash fund
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SECTION 16.1SECTION 16.1 Cash RegistersCash Registers
The sales transaction is the process of recording a sale and presenting the customer with proof of payment. Most retailers today use cash registers for this. Cash registers fill three important functions of sales transactions:
recording sales
storing cash and sales documents
providing receipts
Cash Register Operations
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SECTION 16.1SECTION 16.1 Cash RegistersCash Registers
Electronic Cash Registers
Electronic cash registers automatically perform many functions of a sales transaction:
totaling quantity purchases figuring sales tax subtracting refunds and returns calculating the change due a customer
Information can be entered by: manual key entry electronic wand entry optical scanning
Slide 1 of 2
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Electronic Cash Registers
Two types of codes are widely used for electronic entry.
The Universal Product Code (UPC) is a bar code composed of a series of vertical parallel black and white lines and a row of numbers. Each item has its own distinctive UPC.
The Universal Vendor Marketing (UVM) code appears as a series of numbers across the top of a price tag.
Slide 2 of 2
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POS Terminal Functions
POS computer terminals are connected to an in-store network that keeps track of sales, inventory, and often how much new merchandise to be ordered. POS terminal functions include:
scanning products
transferring information
recording sales
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Scanning Products The checker passes each item over the optical scanner so that it can read the code printed on the package. The checker will key in the sale amount if code label is torn or missing.
POS Terminal Functions
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SECTION 16.1SECTION 16.1 Cash RegistersCash Registers
Transferring Information The terminal shows the price and name of each item, and the total amount of the sale after any special discounts. The terminal sends the information to a central computer, where inventory is updated and new merchandise can be ordered if stocks are low.
POS Terminal Functions
Slide 3 of 4
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Recording Sales The terminal calculates the change due to the customer, and prints a paper receipt listing each item sold along with prices, the date and time, and sometimes the customer's name and account information.
POS Terminal Functions
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Checks and currency collected in sales transactions are generally deposited in the till. The till is the cash drawer of a cash register.
The Cash Drawer
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SECTION 16.1SECTION 16.1 Cash RegistersCash Registers
The till normally has ten compartments—five in the back and five in the front. Bills are usually kept in the back compartments of the drawer (with checks on the far left, and other bills in descending order: $20s, $10s, $5s, and $1s), and coins in the front compartments (also in descending order, half-dollars on the far left, then quarters, dimes, nickels, and pennies).
Cash Drawer Arrangement
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SECTION 16.1SECTION 16.1 Cash RegistersCash Registers
The opening cash fund consists of the coins and currency designated for the register for a given day's business. To verify the fund, count the coins and the currency. When the amount is more than planned for the register, the fund is over; if there is less than planned, the fund is short.
Opening Cash Fund
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SECTION 16.1SECTION 16.1 Cash RegistersCash Registers
Be thorough and accurate when making change, and follow these five steps:
1. Once the transaction has been entered in the cash register, announce to the customer the total amount of the sale.
2. Announce the amount tendered when the customer offers payment in
cash.
Making Change
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3. Place the money on the cash drawer ledge and leave it there until you have completed giving change to the customer. This eliminates most disputes over the amount tendered.
4. Count silently while removing change from the cash drawer.
5. Count aloud when handing the change to the customer.
Making Change
Slide 2 of 2
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Salespeople and cashiers who use cash registers must account for the day's sales and money at closing. This is also called balancing the cash or balancing the till.
Sales Tally
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SECTION 16.1SECTION 16.1 Cash RegistersCash Registers
Every employee who uses a cash register should be familiar with some safeguards against the theft of money.
Always close the cash drawer between transactions.
Always lock the register if you leave it. Ignore interruptions while you are making
change. Learn how to recognize counterfeit money
and look at money you receive very closely.
Safeguards Against Theft
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SECTION 16.1SECTION 16.1 Cash RegistersCash Registers
A sales check is a written record of a sales transaction that includes:
the date of the transaction the items purchased the purchase price
Many businesses use electronic cash registers and POS systems that produce computer-generated sales checks. Smaller businesses write them by hand.
Sales Check
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16.1 ASSESSMENTASSESSMENT
Reviewing Key Terms and Concepts1. What are three functions that all cash registers
perform?2. From left to right, how are the coins arranged in a
typical cash register drawer? The bills?3. A customer gives you a $50 bill for a purchase of
$37.73. How will you count the change back?4. What can you do to help prevent theft from a
cash register?5. What sort of information does a sales check use
to detail a sales transaction?
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16.1 ASSESSMENTASSESSMENT
Thinking Critically
What advantages do you think using an electronic optical scanning wand would have over manually entering prices?
Chapter 16 Using Math in Sales 22
16.1 Graphic OrganizerGraphic Organizer
Cash Drawer Arrangement
Checks and
Special Items
Checks and
Special Items
$20bills$20bills
$10bills$10bills
$5bills$5
bills$1
bills$1
bills
Dollar Coins and
50¢ coins
Dollar Coins and
50¢ coins25¢
coins25¢
coins10¢
coins10¢
coins5¢
coins5¢
coins1¢
coins1¢
coins
BACK ROW
FRONT ROW
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Marketing EssentialsMarketing Essentials
End of Section 16.1
