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nitzguy
Premium
join:2002-07-11
Sudbury, ON
reply to Sukunai

Re: Death of the dumb prices at Walmart

I have a question, if you're out now, how do you reconcile?

I mean, we are human, we make mistakes, lets say a penny slips and doesn't make it in to the register and at the end of the day you're out a penny, how do you manage that now?

I'm just curious...at work, I just have this magical thing called a "Variance Slip" that makes me magically balance lol.


Gone
Premium
join:2011-01-24
Fort Erie, ON
kudos:4
said by nitzguy:

I mean, we are human, we make mistakes, lets say a penny slips and doesn't make it in to the register and at the end of the day you're out a penny, how do you manage that now?

You try and find out what the error was and fix it. If you can't, you make an adjusting entry.


nitzguy
Premium
join:2002-07-11
Sudbury, ON
said by Gone:

said by nitzguy:

I mean, we are human, we make mistakes, lets say a penny slips and doesn't make it in to the register and at the end of the day you're out a penny, how do you manage that now?

You try and find out what the error was and fix it. If you can't, you make an adjusting entry.

...I should have known that....I've been out of the accounting practice loop for way too long....thanks for the tip o' the day!


dirtyjeffer
Anons on ignore, but not due to fear.
Premium
join:2002-02-21
London, ON
reply to Gone
said by Gone:

said by nitzguy:

I mean, we are human, we make mistakes, lets say a penny slips and doesn't make it in to the register and at the end of the day you're out a penny, how do you manage that now?

You try and find out what the error was and fix it. If you can't, you make an adjusting entry.

everywhere i worked, you were either "over" or "short", meaning you deposited more or less than what you were supposed to...it was quite common to be out a little bit over the course of a day (grabbing a quarter instead of a nickel by accident)...in the end, when you reconcile your "monies", you might be out $2 at the end of the month, which just comes out of your profit...it is a minuscule amount...of course, if you are out a lot (over/short), then you dig a little further to see what is going on...for example, if you are short $28.25, you look for entries for $25 (plus tax)...you will often find that a sale was processed incorrectly at which point you could then correct it to balance the books...if it was discovered the next day, you can correct it that day and be over $28.25, which would negate the previous day's shortage...any person working in retail works with over/short all the time.
--
People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

- George Orwell