The Top 5 Reports You Should View Daily for Tender Reconciliation

A new article has been posted on the TAM Retail blog by Grisel de la Torre:

An important benefit to implementing TAM is easy access to accurate information. TAM produces reports with user defined levels of detail that help you get a handle on your business. Enhanced accountability is a major benefit of using TAM point-of-sale system. On all the reports, you will get, among other things, a breakdown of sales by tender type, a read on discounts and coupons, and a calculated over/short amount. TAM Office has 5 reports that you can preview daily to ensure all payment types are accounted for at the end of the day. All the reports mentioned in this article can be found in TAM Office – Sales Management – Print.

Daily Summaries

At the end of your day, familiarize yourself with a summary of your daily sales by previewing the Daily Summaries report. This report will display tender information, non-sale information, department sales, non-SKU sales, and all of the modes used. It is very important that totals sales (Part A) and totals sales (Part B) always be equal. If they do not equal each other, please call the TAM Help Desk and establish a case.

Card Activity Report

It’s important for all merchant operation managers to reconcile credit card totals to reported system totals on a daily basis. Whether you are accepting charges with Mercury Payment Systems or Shift 4, it’s important to reconcile daily. Balancing MPS/Shift 4 systems to TAM is as simple as checking the Card Activity Report. For credit card sales, it’s a matter of checking what was processed and ‘settled’ against the figures in the Card Activity report located in TAM Office.

Here is an overview:

  1. Locate the credit card detailed report from the Mercury Payment Systems Web Portal or Shift 4 Web Portal.
  2. Locate the Card Activity report in TAM Office.
  3. Compare the totals on the sales reports to the batch totals for each location and verify that they match.

If everything matches up, you are finished reconciling your credit card sales.

Tender Balance Summary

The closeout process can be customized to produce individual reports for a register or associate. TAM makes balancing your day easy with the ‘cash calculator’ to account for all cash, check, and charge tenders.  Once the drawer deposit is created, it generates a detailed daily closeout report via the TAM Cash Register. Operation managers can then preview the Tender Balance Summary report located in TAM Office to check whether the register/associate balanced. The report will display the Deposit Totals, Register Totals, and the Over/Short amount. If it doesn’t balance, recount the drawer to see if it was human error. If it isn’t human error and you can’t account for the difference, then you will have to audit all of the transactions.

Cash Register Journal

All of the completed transactions can be found in the Cash Register Journal located in TAM Office. This is an electronic version of what occurred at the actual register. This will allow you to add the transactions by tender type to see why there is a discrepancy between the register and deposit totals.

Sales Summary

This report is a combination of reports in TAM Office. Although this report can be lengthy, it is very detailed because it is a combination of the Daily Totals and Tender Balance Summary.

If there are still issues or questions with daily reconciliation, you can trust the TAM Help Desk Support team will be ready to help. Please call 866-435-7826 or email help@tamretail.com

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