Welcome to ReviewBox Brasil! In this article, we will talk about cash drawer, an accessory that is absolutely essential for your business. Do you know everything you need to take into consideration to choose the best one?
Having a cash drawer provides agility, organization and security for your business. The moment to register purchases, receive the money and return the change will become much more efficient, besides the chance of small thefts becoming much smaller.
What are the main characteristics of a good cash drawer? How should it fit in your point of sale? What does it need to have in order to confer the necessary agility, organization and security? Stay with us and we will explain all this below!
- 1 Weekly newsletter with the best personal finance tips
- 2 Summary
- 3 The best Cash Drawer: Our Picks
- 4 Buying Guide
- 5 Purchase criteria: Factors to consider when buying a cash drawer
- It is very important to have cash drawers at each point of sale in your business. This will make your life easier in various ways, in addition to the peace of mind that comes with the greater security provided by these accessories.
- There are several categories in which we can divide cash drawers. The most important are by vertical or horizontal opening and automatic or manual.
- The values of cash drawers can range from £70 to £600, but several very efficient models are in the middle ground. You will probably find something of great quality for around £200.
The best Cash Drawer: Our Picks
We have chosen cash drawer models that are of the highest quality. They will fulfill the desired function without causing any problems. Below is a list with these drawers that you should definitely take into consideration:
The cash drawer, besides being super practical, offers more security for any commerce. You organize your change and this way it becomes easier to handle money in the daily rush and not make any mistake.
But how to choose the best cash drawer for your business? What changes in terms of space, opening or material? Why is it so necessary to have this accessory? It's time to remove all these doubts!
What is a cash drawer and what is it used for?
This main equipment can be a computer or a simple cash register. For this, the entrance is similar to that of a modem or telephone. That way, the cash drawers will open automatically when a sale is completed, which also gives extra security.
There is no way to have a business and not organize and protect the money that comes in effectively, is there? That is why it is essential to have a cash drawer for each cashier!
Which are the advantages of a cash drawer?
The organization happens because the drawers have partitions for coins and notes. This way, when it comes time to receive payment, all you have to do is place the units received together with those of equal value. At the moment of counting, everything will be easier.
In the same way, agility comes through the ease of finding the necessary valuables. As they are already organized, it is only necessary to take from the drawer, give change and finish the service of a certain customer. The end-of-day count is also simplified.
Perhaps the most important aspect is security. As a cash drawer only opens manually (by key) or automatically (when there is a sale), the notes are not exposed to the public. This prevents theft or robbery and gives peace of mind to retailers.
See below the main advantages and disadvantages of the cash drawer:
How to adapt the cash drawer to the available space?
The first thing to analyse is how the drawer opens: it can be horizontal (forward) or vertical (upwards). If you have more space in one direction or the other, the ideal is to choose the one that best fits the point of sale.
It is also necessary to analyse the measurements. There are some models that are more compact and therefore fit well in smaller spaces. There are also the resistant ones, which can be easily placed under monitors, for example.
Whether it's the way the drawer opens or the dimensions, you will probably be able to find a model that fits well in your point of sale. Fortunately, there is great versatility of shapes and sizes!
How does the opening of a cash drawer work?
If you intend to use it manually, you must be extra careful not to lose the key and always keep it in a safe place. Don't forget to open the drawer either.
For the automatic functioning, the drawers have a connector in its back that allows this automation process. The installation can be the biggest difficulty for people.
How much does it cost?
It is possible to find models with prices between approximately £70 and £600. The great majority, however, stays around £200, value for which it is possible to find an excellent cash drawer.
Purchase criteria: Factors to consider when buying a cash drawer
Apart from available space, lid opening and automation, there are a few more issues you need to take into consideration before buying your cash drawer:
- Number of dividers
- Life span
We will explain each of them better below.
Quantity of partitions
The cash drawers available in the market have a variation in the number of partitions. Practically all have space for notes and coins, however, the number is what differs among the models.
The higher the number, the easier it is to organize. The smaller ones, which are useful for space reasons, may cause notes of different values to need to be kept together.
Therefore, analyse your priority between having a more compact drawer or one with greater organisation capacity!
The drawer's material needs to be very resistant. It is common that other equipment stay on it, besides the fact that the constant movement of opening and closing can damage the gears and the sides.
Look for models that are, at least, made of reinforced steel. Another good idea is polystyrene. Avoid closing hard or slamming your drawer so as not to wear out the material.
It is also important to have good quality fasteners for the banknote dividers. Here, nickel-plated steel is excellent value.
No matter how strong and durable a cash drawer is, the constant motion of opening and closing will eventually cause it to no longer function effectively. Wear and tear on the sides is one of the most likely effects.
Some models have an estimated lifetime in their technical specifications, measured in cycles (opening and closing movements). It is important to have an estimate of how many sales you make per day to translate that into time.
This way you will know if the investment is worth it and when you will need to make a change.
After talking so much about issues like strength, durability and space, we come to the one that complements it all: beauty. Many cash drawers are similar to each other, but some stand out for their concern for design.
Having a drawer with a beautiful and elegant design will bring a better image to your business. There are also some brands that manufacture copies in different colours, which gives an extra option for combination with the furniture or the visual identity of your business. If this is an important issue for you, stay tuned to combine beauty and efficiency!
(Source of the highlighted image: nosheep / Pixabay)