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Advice on Cash register ( Till)?

  • 21-06-2011 10:34am
    #1
    hey you!
    Closed Accounts Posts: 5 ✭


    Hi all,
    I am going to open a small beauty & nail bar in existing hair salon,
    Space is very limited, will i require to have till by revenue?
    I had a word with my accountant and he said it shouldn't be problem, Please advice as i don't want any problem later.
    Thanks


Comments

  • #2
    Owen
    Registered Users, Registered Users 2 Posts: 12,683 ✭✭✭✭Owen


    You can buy very small footprint cash registers in some cash and carrys. They almost look like Fisher Price ones, but they work fine. Some are cheap too, around 150 Euro.


  • #3
    hey you!
    Closed Accounts Posts: 5 ✭hey you!


    PaintDoctor wrote: »
    You can buy very small footprint cash registers in some cash and carrys. They almost look like Fisher Price ones, but they work fine. Some are cheap too, around 150 Euro.

    Thanks very much, will have a look, do i require till by law for that small business?


  • #4
    Owen
    Registered Users, Registered Users 2 Posts: 12,683 ✭✭✭✭Owen


    I'm no expert, but I'd imagine no. You would probably need some form of leger to track your work, but I can't see how a cash register could be a requirement, as you could input whatever figures you wanted into that just as easily as you could alter the leger if you were so inclined.

    Someone with more knowledge than me will chime in soon hopefully.


  • #5
    hey you!
    Closed Accounts Posts: 5 ✭hey you!


    PaintDoctor wrote: »
    I'm no expert, but I'd imagine no. You would probably need some form of leger to track your work, but I can't see how a cash register could be a requirement, as you could input whatever figures you wanted into that just as easily as you could alter the leger if you were so inclined.

    Someone with more knowledge than me will chime in soon hopefully.


    Thanks Much appreciated.


  • #6
    johnsmith13
    Closed Accounts Posts: 48 ✭johnsmith13


    hey you! wrote: »
    Hi all,
    I am going to open a small beauty & nail bar in existing hair salon
    Thanks

    You said you are opening in an existing hair salon. Maybe they could create a product on there EPOS system and charge the customer for you and in the end of the day you can just get the money off them...

    You are not required to have a till but if you are charging vat then you are required to record this (and keep the records for upto 7 years). Also you must be able to produce a receipt for the customer.


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  • #7
    Owen
    Registered Users, Registered Users 2 Posts: 12,683 ✭✭✭✭Owen


    I think that would create additional accountancy issues for them. The OP is as well to find some solution to track sales on their own for clarity's sake.


  • #8
    ssbob
    Registered Users, Registered Users 2 Posts: 2,736 ✭✭✭ssbob


    hey you! wrote: »
    Hi all,
    I am going to open a small beauty & nail bar in existing hair salon,
    Space is very limited, will i require to have till by revenue?
    I had a word with my accountant and he said it shouldn't be problem, Please advice as i don't want any problem later.
    Thanks

    Simple answer: NO
    Long Answer: You are required by law to record all sales and if you think you will reach the threshold of €37,500 you must register for VAT. Also as mentioned above you are required to be able to give a receipt to the customer.
    Solution: Get a receipt book printed by a local printer(you could probably get 5 for €50) and this will be your record which is very handy and issue a receipt to all customers.


  • #9
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    from July 2008 cash registers must fall in line with Revenue requirements:

    http://www.revenue.ie/en/tax/vat/leaflets/cash-registers.html


  • #10
    hey you!
    Closed Accounts Posts: 5 ✭hey you!


    ssbob wrote: »
    Simple answer: NO
    Long Answer: You are required by law to record all sales and if you think you will reach the threshold of €37,500 you must register for VAT. Also as mentioned above you are required to be able to give a receipt to the customer.
    Solution: Get a receipt book printed by a local printer(you could probably get 5 for €50) and this will be your record which is very handy and issue a receipt to all customers.


    Thanks all for answers, really appreciated.
    I forgot to add, we plan to keep all records of transaction on Ledger and every week i will do in excel and sending to Accountant end of month.

    Receipt book option is good, will have a look.


  • #11
    ssbob
    Registered Users, Registered Users 2 Posts: 2,736 ✭✭✭ssbob


    hey you! wrote: »
    Thanks all for answers, really appreciated.
    I forgot to add, we plan to keep all records of transaction on Ledger and every week i will do in excel and sending to Accountant end of month.

    Receipt book option is good, will have a look.

    Unless you have a massive t/o, I wouldn't be sending the accountant work every month, just one spreadsheet at the time of the annual return will do.

    Any other advice don't hesitate to ask.


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  • #12
    hey you!
    Closed Accounts Posts: 5 ✭hey you!


    ssbob wrote: »
    Unless you have a massive t/o, I wouldn't be sending the accountant work every month, just one spreadsheet at the time of the annual return will do.

    Any other advice don't hesitate to ask.


    As we will most likely open 2 places at same time in different location,
    As you mentioned aboutthreshold of €37,500 for Vat, Will that be combined for both shops or single threshold of 37,500?

    And for receipt book i presume will have to print 2 diff books to keep record of each shop for tax purpose.
    Thanks a lot.


  • #13
    johnsmith13
    Closed Accounts Posts: 48 ✭johnsmith13


    hey you! wrote: »
    And for receipt book i presume will have to print 2 diff books to keep record of each shop for tax purpose.
    Thanks a lot.

    The problem with using the receipt book\Another cash register is if a customer wishes to pay with credit/debit card or all the services in one go. Also if you wish to run offers along with the beauty salon then these would be going through the Salon's system.

    I still believe the Hair Solon adding your services to there EPOS system under a new department (all decent EPOS Software packages allow this) will make it easier for offers and measuring footfall. It will also mean less confusing when a customer goes to pay for what they believe is open service but then are told that they have to pay you for the Nail treatment seperately.

    The Salon should day be able to print off weekly/dayly/monthly sales/vat reports for you to provided to your accountant, they can then leave that department out of the reports that they provide their accountant


  • #14
    DubTony
    Registered Users, Registered Users 2 Posts: 3,267 ✭✭✭DubTony


    hey you! wrote: »
    As we will most likely open 2 places at same time in different location,
    As you mentioned aboutthreshold of €37,500 for Vat, Will that be combined for both shops or single threshold of 37,500?

    And for receipt book i presume will have to print 2 diff books to keep record of each shop for tax purpose.
    Thanks a lot.

    2 locations, 1 business. VAT threshold is for the combined turnover of both locations.
    Johnsmith13 is spot on in his analysis of the cash register situation. Throw customer service into the ring there as well. It only takes a few customers to be pissed off about having to pay at 2 locations and it won't be long before the salon owner is either throwing you out or insisting that your sales go in his till.


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