What is Opening Float?
The opening float is the fixed amount of change placed in the cash drawer at the start of a shift, before any sale is made.
Updated
Meaning
English
The opening float is the fixed amount of change placed in the cash drawer at the start of a shift, before any sale is made.
Roman Urdu
Opening float woh khulla cash hai jo shift shuru hone se pehle galle me rakha jata hai, taake change diya ja sake.
Also called float, opening cash, change fund, opening balance.
Example
A bakery keeps a float of 5,000 rupees in small notes. At closing, the cashier counts the drawer, takes out the float for tomorrow, and the rest is the day's cash to deposit.
How it works
Without a float, the first customer with a 5,000 rupee note sends a salesman running to the next shop for change. With one, the drawer starts with a known amount, so the closing count has a clear starting point: expected cash is the float plus cash sales, minus cash refunds and payouts.
Keep the float the same every day and in the same notes, so a shortfall is easy to see. Write it down when it is counted, by whom and at what time. If two cashiers share a day, each shift should start with its own counted float, so a difference belongs to one person, not to the whole day.
In Nafaa
Opening a shift on the Cash register page asks for the cash in the galla, as one amount or counted note by note. Nafaa compares it with what the last shift left behind, and the closing count is checked against this opening figure.
Related terms
- Galla
A galla is the cash box or drawer at a shop counter where the day's cash sales are kept and change is given from.
- Z-Report
A Z-report is the end-of-shift or end-of-day summary that totals the sales, payments, returns and cash for a till and closes it.
- Cash Over and Short
Cash over and short is the difference between the cash counted in the drawer at closing and the cash the bills say should be there.