ShopKeep POS App version 2.1 is now available. This is a major release enhancing the way tender types are tracked beyond the basic Cash, Credit, and Other.
While this is not yet integrating the ability to issue and process gift cards and other liabilities through ShopKeep POS, this is the precursor to that major feature.
This 2.1 App release is a two-part event. At this time, you can log into your BackOffice and activate tenders and liabilities that are used in your store. Once this is done, the ShopKeep POS App can be updated, and the new tender types will appear within your register. Please continue to read below for more information on Tenders vs. Liabilities, how to set up and use this new feature, and how to report with our Liabilities reports.
1. Your business’s net revenue is the money you are making in exchange for goods or services. You also have a wealth of liabilities, things that the business still owes for the transaction, like state taxes, or perhaps gratuity that is owed to the staff. Net revenue combined with liabilities are the total tenders. All in all, better tracking of these will help you, and your accountant. Learn More >>
2. In your BackOffice, select the different tender types to be used at the register. Liabilities like gift cards are redeemable and therefore are documented differently. The following tender types will be available for you to activate and use within the register. Check, Coupon, Ext. Amex, Ext. Credit, Ext. Debit, Ext. EBT, Ext. Visa/MC/Disc, Gift Card, Gift Certificate, Mobile Payments. Learn More >>
3. To sell a redeemable liability, like a Gift Card, it must be sold before it can be redeemed. Create it as an item, log it as a tender type, and add it to your register like an inventory item. When a loyal customer returns to redeem a gift card, the transaction is processed as a liability, and you will have accurately documented this sale. Learn More >>
4. While liabilities are part of your total tenders, they are tracked separately. As liabilities like gift cards are sold and redeemed, the new Liabilities reports will simply display the issued gift card amount, as well as the redeemed gift card amount for any set period of time. This way, tracking your sales of and redemptions of liabilities are all in one. Learn More >>