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Keeping card reader receipts

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StepOne
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Keeping card reader receipts

#387928

Postby StepOne » February 19th, 2021, 11:27 am

Hi,

We are about to take over a local business which turns over about 500,000 a year, two thirds of which is card payments.

The current owner has been taking me through his processes, which involve, among other things, keeping all the card machine printouts for the day, along with the till report, and card machine summary in an envelope. He files the envelope in a box for each year, so has multiple boxes, each with 365 (or 366!) envelopes with all the paperwork for the day. He summarises the daily figures into a spreadsheet which the accountant then uses for VAT returns. The Accountant also keeps all the boxes of paperwork (and charges for the privilege).

It strikes me that there must be a better way of doing things - I see a lot of adverts on the tv for packages like Zero and Quickbooks promising paperless accounts.

The current system uses Worldpay, with an Ingenico handset.

Does anyone know if it is a requirement that we keep the transactions slips. If so, can the Worldpay system not give, say, a PDF end of day report which lists all the info from the days transactions. Or, if not, do any of the alternatives like iZettle or Sumup, do something like this?

Any help much appreciated.

Thanks
StepOne

supremetwo
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Re: Keeping card reader receipts

#388034

Postby supremetwo » February 19th, 2021, 6:39 pm

Certainly available from Worldpay
https://help.worldpay.com/end-day-reports-0

Email Summary
To generate an email summary of your sales simply tap "Email this Summary" from Sales & Insights and the Worldpay POS app will automatically send you an email with a full breakdown of your sales data. The timeframe captured in the report will correspond to that displayed on screen at the time of request.

Included in this printed report will be:
Your Sales, Refunds and Total Sales figures.
A breakdown of your transactions by Cash and Card across Sales, Refunds and Total Sales.
A summary of any closed Cash Drawers for the day's trading (only available in daily summary).
A summary of your top selling Items & Categories.
VAT data broken down by tax band, provided that your VAT number is registered within My Business Dashboard.

To print a summary of your day's activity:
Go to Sales & Insights.
Select the date range you require your summary for.
Select "Email this Summary".
Your Email summary will now be generated and appear in you inbox shortly.
N.B. Your email report will be sent to the same email address you use to login to the Worldpay POS app. At this time we are unable to send your email report to an alternative email address.


Ref. the VAT aspect, what is the current business situation with MTD (making tax digital)?

https://www.gov.uk/government/publicati ... ax-digital
https://www.gov.uk/vat-record-keeping/m ... al-for-vat

StepOne
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Re: Keeping card reader receipts

#388526

Postby StepOne » February 21st, 2021, 8:07 pm

Hi SupremeTwo,

Thanks for that - the system does generate end of day reports (or week, month, etc). But they are just summaries - they don't contain the Credit Card numbers, and from speaking to a few people it seems that PCI regulations mean you cannot store the numbers, so the only proof of transaction is the individual slips. So in this case there doesn't seem to be any way around just collecting and storing the paperwork.

Cheers
StepOne

GrahamPlatt
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Re: Keeping card reader receipts

#388537

Postby GrahamPlatt » February 21st, 2021, 9:01 pm

If you don’t want to have to store all that paper (& especially not if you have to pay for it), why not just take photos?


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