What is Daily Cash Management in Marg Books ?

Why to use Daily Cash Management in Marg Books ?

Who Uses the Daily Cash Management in Marg Books ?

What is the End Result of Daily Cash Management ?

Process to Enable Daily Cash Option from Control Room in Marg Books

Process to Assign Daily Cash Role in Operator in Marg Books

Process to Enable Mode of Payment in Marg Books

Process to Set Separate Cash Ledger for Operator in Marg Books

Process to provide Opening Cash to Operator in Marg Books

Process of Billing in Operator in Marg Books

Process to Submit Cash to Admin or Close Day in Marg Books

What is Daily Cash Management in Marg Books ?

Managing daily cash transactions is a critical aspect of financial operations for businesses, especially those that handle cash sales and deposits. The Daily Cash Management feature in Marg Books was introduced to streamline cash handling processes, ensure transparency, and enhance accountability in cash transactions. This case study explores the reasons behind its implementation and the benefits it offers to various stakeholders.

Why to use Daily Cash Management in Marg Books ?

In traditional cash-based businesses, tracking cash transactions and ensuring accurate end-of-day balances can be challenging. Manual cash handling often leads to discrepancies, lack of accountability, and potential financial mismanagement. Businesses required a systematic approach to:

• Assign cash responsibilities to specific employees (Operators).
• Track daily cash flow efficiently.
• Ensure seamless cash deposits to supervisors or admins.
• Reduce errors and fraud in cash and stock handling.
• Maintain proper cash ledgers for reconciliation.

Additionally, some customers who had multiple stores and branches faced significant challenges in tracking cash and stock balances across locations. Without a centralized system, they struggled with discrepancies in reporting and lacked real-time visibility into their financials. They had to depend on their cash operators to report total stock and cash, which often led to inconsistencies and delays in financial reporting. However, with this feature, they can now tally the total amount of cash and stock available in the shop against the data maintained in the accounting system, ensuring accuracy and control.

Who Uses the Daily Cash Management in Marg Books ?

a. Retail Businesses & Store Owners:

• Helps in tracking daily sales and cash collections.
• Reduces the risk of cash mismanagement.
• Ensures accountability of store staff.

b. Pharmacies & Medical Stores:

• Enables easy cash tracking in high-cash transaction environments.
• Ensures compliance with financial audit requirements.

c. Supermarkets & Wholesale Businesses:

• Allows cashiers to manage and report cash transactions efficiently.
• Reduces end-of-day cash discrepancies.

d. Company Admins & Supervisors:

• Gain real-time insights into cash flow.
• Ensure financial discipline among Operators.
• Easily track and approve daily cash closures.

e. Operators & Cashiers:

• Provides a structured method to handle cash transactions.
• Ensures that personal accountability is maintained without undue pressure.
• Simplifies end-of-day cash deposit processes.

f. Multi-Store Business Owners:

• Allows centralized tracking of cash and stock balances across all branches.
• Reduces errors and fraud by enabling real-time monitoring across different locations.
• Eliminates dependency on cash operators for cash and stock updates, allowing owners to verify figures directly in the system.

What is the End Result of Daily Cash Management ?

Daily Cash Management feature in Marg Books addresses key challenges faced by cash-handling businesses. By introducing structured cash assignments, ledger tracking, and end-of-day deposits, it enhances operational efficiency and financial accountability.

For businesses with multiple stores and branches, this feature provides a much-needed solution for real-time cash and stock monitoring, ensuring seamless financial management. With growing business demands, the need for robust cash management solutions like this will continue to rise, making Marg Books a valuable tool for businesses looking to maintain financial integrity and efficiency.

 **Important Notice**

1. The Process of Daily Cash can be enabled and managed by the Admin User only.
2. The user must have an Operator with Operator Roles and Powers. To view the Create user process, click here.
3. The user has to Assign Powers of Company to Operator in which Daily Cash needs to be enabled. To view the process to Assign Powers of the Company to the Operator, click here.

Process to Enable Daily Cash Option from Control Room in Marg Books

• Click on the ‘Settings’ Icon.

• In 'Control Room' option, the user will click on ‘Configure’ button.

• The user will search ‘Daily’.

• In 'Daily Cashbook' option, the user will select 'Yes'.

• Click on 'Configure' button.

• In 'Cash Difference Limit in Cash Deposit' option, the user will enter the amount difference which is allowed between Cash Received and Cash Deposited.
• Suppose enter '2'.

• In 'Set Denomination' option, the user will click on 'Configure' button.

• Click on 'Add Denomination'.

• The user will enter the Value of Denominations and Type of Denomination as per the requirement.
• Suppose enter '500' in Value and Click on 'Note'.

• Similarly, the user will enter other denominations and click on 'Save' button or press 'F10' key.

• In 'Enable Cash Transfer' option, the user will select 'Yes'.

• In 'Daily cash Closure Approval' option, the user will select 'Yes' if Approval is required for Cash Closure otherwise keep it as 'No'.
• Suppose select 'No'.

• In 'Enable Physical Count' option, the user will select 'Yes' if Physical Count of Items are required to be maintained otherwise keep it as 'No'. 
• Suppose select 'No'.

• Press 'ESC' key twice.

• Click on 'Save' button to save the changes.

• Click on 'OK' button.

Process to Assign Daily Cash Role in Operator in Marg Books

• Click on the ‘Settings’ Icon.

• In 'User Access & Privileges' option, the user will click on ‘Configure’ button.

• Click on 'Roles'.

• In 'Operator' option, the user will click on 'Clone'.

• The user will enter the 'Name of the Role' and click on 'Master'.
• Suppose enter 'Cashier'.

The user will assign the Daily Cash powers to the user as per the requirement. 

a. Open/Close Cashday: The user will place a tickmark to provide an access to user to manage 'Opening and Closing Cash'.

b. Cash Deposits: The user will place a tickmark to provide an access to user to receive and provide 'Cash Deposits'.

c. Manage Approvals: The user will place a tickmark to provide an access to user to 'Manage Approvals'.

Suppose place a tick mark against 'All' and click on 'Save' button or press 'F10' key.

• Click on 'All Users'.

• Click on 'Edit' icon in operator.

• In 'Role' option, the user will select 'Cashier'.
• Click on 'Save' button or press 'F10' key.

Process to Enable Mode of Payment in Marg Books

• Click on the ‘Settings’ Icon.

• In 'Control Room' option, the user will click on ‘Configure’ button.

• The user will search ‘Mode’.

• In 'Mode of Payment required in Sale' option, the user will select 'Yes'.

• Press 'ESC' key.

• Click on 'Save' button to save the changes.

• Click on 'OK' button.

Process to Set Separate Cash Ledger for Operator in Marg Books

• Go to Master > Accounts Master > Ledger.

• Click on 'Create' button or press 'F2' key.

• The user will enter the 'Name of cash Ledger' as per the requirement.
• In 'Account Group' option, the user will press 'Spacebar' key.

• The user will select 'Operator Cash'.

• In 'User Mapping' option, the user will select the operator for which Cash Ledger is created.
• Suppose select 'Mahak Negi' and click on 'Save' button or press 'F10' key.

Note - If Company Right is not given to the User then the Operator will not show in Cash Ledger and Separate Cash Ledger will be maintained for each Operator.

Process to provide Opening Cash to Operator in Marg Books

• Go to Accounting Transaction > Payment.

• Click on 'Create' button or press 'F2' key.

• The user will press 'Enter' key.

• The user will select the Cash ledger created for Operator.
• Suppose select 'Cash 1' and press 'Enter' key.

• The user will enter the Date as per the requirement and press 'Enter' key.

• The user will enter the 'Amount' as per the requirement.
• Suppose enter '5000' and press 'Enter' key.

• Click on 'Save' button or press 'F10' key.

Process of Billing in Operator in Marg Books

• The user will sign in with 'Operator ID'.

• Suppose the user wants to create Sale Bill.
• Go to Sale > Bill.

• Click on 'Start Billing' button.

• Type 'Sure' and click on 'Start Billing'.

• Now, the user will enter the Date, Party Name and Item as per the requirement.
• Press 'F10' key or click on 'Save' button. 

• The user will enter the amount in 'Cash 1' ledger and click on 'Save' button.

• Similarly, the user will create other entries of Sale Bill and Expenses, etc.

Process to Submit Cash to Admin or Close Day in Marg Books

• Go to Daily Cashbook > Open/Close Daily Cashday.

• Click on 'Stop Billing'.

• The user can view the Whole Transactions for the Day and click on 'Next' button.

• In 'Note Count(s)' option, the user will enter the Notes received for particular denominations.
• Suppose in '500 denomination' enter '4'.

• Similarly, the user will enter other denominations and click on 'Next' button.

• The user can view the Sale Description and place a check mark in 'Cash Transfer'.

• The user can view that 'Cash Transfer' amount will auto pick as per the denomination Value and the user can change it as per the requirement.
• In 'Transfer amount to' option, the user will select the Admin or Supervisor.
• Suppose select 'Kavita'. 

• Click on 'Submit' button.

• The user will type 'Sure' and click on 'Ok' button.

After following the above steps, the user can easily manage the Daily Cash in Marg Books.