Cash Management Made Easy: Tips to Selecting the Perfect Cash Drawer for Your Business

Cash drawers have been a quintessential hardware component in the business world for centuries, serving as an integral component of a cash management system. These devices function as a secure and organised way to store cash, coins, and other essential items, making them an integral tool for businesses that handle cash transactions. Cash drawers were initially simple lockboxes that evolved into sophisticated, technologically advanced devices, designed to meet the changing modern-day business needs.

Cash drawers evolved in the 19^th century with the rise of cash-based transactions when the requirement for a secure and efficient method of cash storing became important. Earlier, cash drawers were simple boxes with locks that had compartments to store different denominations of coins and bills and were manually operated. Here, the cashier would use a key or combination lock to open the drawer and access the cash.

With technological advancements and business growth, cash drawers became more sophisticated. In the 20 ^th century, mechanical cash drawers were introduced that came with in-built cash drawers allowing businesses to calculate the price totals and track sales. These devices were initially made of robust materials like steel and came with multiple compartments for coins, bills, and cheques. These devices were operated using a lever or a button and had a bell or alarm to signal when the cash drawer was opened.

The introduction of electronic cash registers and point of sale (POS) systems in the latter half of the 20 ^th century transformed cash drawers even further. Modern-day cash register are usually connected to a point of sale (POS) system or a  receipt printer, allowing the device to open and close automatically during transactions. These devices often support advanced security features like electronic locks, biometric authentication, and audit trails ensuring the safety of the store’s cash.

This blog enlists the top considerations while choosing a cash drawer for your business.

Tips to Choose the Right Cash Drawer for your Business

Available in different sizes, materials, and configurations, modern-day cash drawers are highly customisable and cater to the specific requirements of different businesses. These robust devices include features such as coins and bills compartments, adjustable trays, removable tills, and media slots for cheques, credit card slips, and other documents. Also, they have integrated connectivity options like USB, Ethernet, or Bluetooth that allows seamless integration with point of sale (POS) systems and other devices.

Different cash drawer models come with advanced locking mechanisms, tamper-evident seals, and alarms to prevent theft and unauthorised access. Cash drawers also offer additional security features like delay locks, dual custody access, and remote monitoring capabilities that help enhance cash management.

To shop for the perfect cash drawer, look out for the following factors:

1.Type: Different cash drawers offer unique features and functionalities. Some of the commonly used cash drawers are:

• Manual Cash Drawer:  As the name implies, these cash drawers are manually operated and do not require any electrical components. They have a basic design and come with a lock and key or combination lock for security. Manual cash drawers are budget-friendly and perfect for small businesses with low cash volume.

• Printer-driven Cash Drawer: These cash drawers are connected to the point of sale (POS) receipt printer and open and close automatically when a transaction is completed. These devices are mostly compact in size and are popularly used in retail or hospitality setups. These cash drawers are easy to install and offer seamless integration with the point of sale (POS) system.

• USB Cash Drawer: These cash drawers, as the name suggests, are connected to a computer or point of sale (POS) system through a USB port. They are mostly software-driven or connected via drivers that send signals to open or close the device.  USB cash drawers are flexible in terms of connectivity and are perfect for businesses that require advanced features like real-time monitoring, remote control, etc.

• Fliptop Cash Drawer: The fliptop cash drawers come with cash try flips that open from the top, allowing easy access to coins and bills. These devices are space-saving and perfect for businesses with limited counter space.

• Wireless or Bluetooth Cash Drawers: These cash drawers are connected to a point of sale system wirelessly, typically using Bluetooth technology, making the device perfect for businesses that require mobility or have limited counter space. You can place these cash drawers anywhere within the range of a Bluetooth signal, eliminating the need for cables.

2. Size and Compatibility: While purchasing any hardware component, considering its dimensions is a must. The device you pick needs to fit perfectly with your point of sale (POS) solution. Therefore, before purchasing, measure the space available at your checkout counter and ensure that you consider the cash drawer’s width, depth, and height, along with other accessories like mounting brackets. You should also check the connectivity options, for example, USB, Bluetooth, Ethernet, etc.

3. Durability and Construction: Usually, cash drawers  are made of metal, plastic, or a combination of both. You need to consider the durability and construction of the device to ensure its robustness and ability to withstand daily usage. To do so, choose a device that is made of superior-quality materials like heavy-gauge steel which offers resistance to tampering and wear and tear.

4. Cash Capacity and Compartments: The cash drawer you pick should have enough space to store an anticipated volume of cash comfortably including cheques, coins, different denominations of bills, and other items. Check the number of compartments the device offers for different denominations of bills and coins and check for additional compartments to store cheques, credit card receipts, and other slips that you may need to store.

5. Security Features: Security is paramount to cash handling. Therefore, the cash drawer you choose should offer robust security features for protection against theft, unauthorised access, and tampering. Some of the common features include electronic locks, lock and key, combination locks, or biometric authentication. There are other security features that come with some cash drawers like time delay locks, dual custody access, or alarm systems that offer an extra protective layer.

6. Connectivity: Ensure that your cash drawer can easily be integrated with your point of sale (POS) system. Knowing the right device that can be integrated with your point of sale (POS) software can save you time. Cash drawers are usually connected with the point of sale (POS) system or receipt printers in different ways like USB, Ethernet, or Bluetooth. All you need to do is, check for the connectivity options and ensure that the device you pick is compatible with your existing hardware and software setup. To streamline the cash handling process and enhance overall efficiency, integration with your existing system is a must.

7. Ease of Use and Maintenance: While shopping for cash drawers, you need to check if the device is easy to set up and install and comes with clear instructions and user-friendly features. At the same time, check if the device requires any regular maintenance like cleaning or lubrication, and get an estimate of the time and effort you would have to invest in the maintenance process before making your decision.

8. Brand Reputation and Customer Support: While purchasing a cash drawer, make sure you consider the brand reputation and customer support the brand offers. It is always recommended to opt for established brands that are known for providing reliable and quality cash drawers. At the same time, it is essential to ensure the kind of customer support you would be getting post-purchase.

Finally,

Cash drawers  are essential tools for businesses that deal in cash transactions. Retail stores, restaurants, hospitality businesses, convenience stores, gas stations, and other businesses that rely on cash payments require cash drawers to manage their cash flow effectively. Other than brick-and-mortar stores, cash drawers online are an essential hardware component of mobile businesses like food trucks, flea market vendors, and event vendors who require portable and secure cash management methods on the go.

If you are planning on purchasing a cash drawer from a premium brand, POS Sales Australia is the answer to your search. We are a leading online reseller of premium point of sale (POS) hardware, consumables, accessories, and bundles, all available at competitive prices.

Starting from VPOS Cash Drawer EC410, VPOS Cash Drawer EC350 4N 8C 24V, GC-100FD Flip-Top Cash Drawer and more, you name it and we have it all at our online store.Check out our inventory and shop for the cash drawer that would meet your budget and business needs perfectly.

For more information about cash drawers, Contact us or call our POS expert at 1300 026 062