Revenue management needs to be simple. Hospitality businesses operate many sales channels, each one generating a variety of different payment sources each of which needs to be tracked, traced and reconciled with deposits, sales and inventory.
1. Real time cash-on-site & safe counts
Centegra Plus tracks the cash and revenue in real time allowing you to know the case in tills, floats, petty cash, safes, and cash waiting to be deposited at any given time. All cash movements are recorded and accounted for allowing for on-site auditing, traceability. Combined with Safe Counts that can be done multiple times, you can have the ability to check the balances at any time eliminating errors and reducing losses.
2. Cash up, flexible and customisable cash up processes.
Design your cash up templates as you wish, by store and with control at a denomination level, quantity, or value counts. It comes with options to allow count followed by approval, great for flexible workflows to be created. Tracking where counted monies go is clearly presented and tacked, with optional ‘allow negative counts’ against individual lines which supports tips that are collected and paid out as cash.
Cash Ups can generate automated deposits for all electronic payment types from Credit Cards to Delivery Partners as well as gift cards, all tracked at traced. When cash is coming from multiple sources the bank deposit feature allows for consolidated deposits and can support rollover cash deposits from weekend trading. Combined with a head office reconciliation feature, bank records can be checked within Centegra Plus prior to any accounting system integration. With HQ administrator adjustments, including electronic staff notifications, bank deposits can be aligned with actuals and over shorts adjusted to reality and recorded in the App.
When cash is paid out for stock purchases we track both sides of the transaction, the cash, and the inventory so that they are tied together for reporting and GP analysis.
Not only does Centegra Plus allow you to track floats, re-floats and cash drops but is also allows cash up counts to include or exclude the float in the counts. With the varying amounts of cash being used in organisations, adjustment to floats and cash balances held in safes is typically not supported by other systems, however Centegra Plus accounts for this allowing flexible cash, floats, and safe balances to be maintained or adjusted with full trackability. Some operations consume cash to support cash tips and we support that too, allowing cash from the bank via cashed cheque or other means, to be recorded and traced.
When you run in to that special requirement, whether that’s operating and replenishing ATMs on site, operating games machines that take cash or moving money in special ways, we can cater for that with our Cash Events. This enables the design of any balanced transaction between Tills, Cash on Site or Banks to be configured and controlled, supporting the most complex operation in a single Cash Event.
Organising your operation into periods, be they weekly, monthly, or even daily, allows for each period to be approved by the store and confirmed ‘completed’ by HQ. For cash this checks for exceptions in the period and allows end of period cash and safe counts to be entered. Centegra Plus presents the opening balances in a clear and concise form with all the cash movements in and out, whether they’re cash takings, cash purchases, cash events, or bank deposits to calculate the expected end counts. Comparing the expected with the actual counts generates total period variances and consolidates the over/shorts from individual cash ups.
8. Reporting and integrations
Out of the box revenue reports are supplemented with custom designed daily balancing reports and other customisations to check, record and report on all the cash and revenue activity. When periods are combined with custom extracts producing files for manual or automated accounting systems integration allows Sales and other General ledger files to be generated from approved and checked data making financial integrations seamless.