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Currency Exchange Software

CGI Design
Office Exchange POS
Telephone: 647-202-2244 (Toronto, Canada)
Dear reader,
This document is for office exchange POS (Point Of Sale for currency exchange) users. It is not a complete user guide but it can help you get started with the system. A more completed document will be provided to you when you become an active client of CGI Design.
The system’s main components are
1-      POS Currency Exchange
2-      Money Transfer (Remit)
3-      Cash Cheque
4-      Book Rate
5-      Accounting and Reporting
Installation Option
Office Exchange is web-based application developed on Microsoft .NET technology and uses MS SQL Server as database to store and retrieve information from system. There are two major installation options
1-      Install on a remote web server where all tellers must have internet access on their pc to connect to the system and use it.
2-      Install locally in a computer in your office where tellers in the office do not need internet access to access the system.
In both options, you can install the application and database on the same server or separate the database server and application server.
Most companies chose option 2 because they would like to be able to operate when internet connection is not available or is slow.
Option 1 is preferred with money transfer companies because they would like to be able to send transaction to other branches using office exchange system.
You can still do remit transaction when using option 2 (Install on office computer) but remit transaction report should be sent to beneficiary branch via fax, email or other ways.
Office Exchange can easily handle 400-500 transaction on an eight-hour shift where installed on Windows 7 professional operating system. There is no limitation on number of transactions can be registered in the system but as number of transactions grows you should upgrade your hardware for better performance.
Installation requirements
·         Operating system: Microsoft Windows any version that supports IIS (Internet information system)
·         Database: MS SQL server any version
POS Currency Exchange
In almost all POS systems, tellers cash in when they start the shift and cash out when their shit is over. This is because management must be able to control the money (buy and sale) and inventory in the company. Like most POS systems, Office Exchange POS tellers can use Cash In form to add the opening balance in hand to the system and can use Cash Out Form to cash out (match physical money in hand with what shows in the system). Some offices like to cash out every week in the system. These companies must print a copy of balance report every day and make sure their balances matches.
The flow for one shift operation for teller is:
1-      Cash In when shift is started
2-      During shift buy and/or sale currencies, cash checks and other activities
3-      Cash out when shift is over
Every day when shift starts the balance report in the Cash In page should show zero (0) for all currencies. This is because the night before the Cash Out operation performed before the last shift close. Some small shops they cash out only once a week or month. If you don’t do the cash out the balance will be forwarded to next day operation
In some cases only admin can cash in and cash out depending on system configuration
1-      Teller receives inventory (cash) for every available currency from manager.
2-      Teller or manager cashes into the system. Meaning uses Cash In Form to enter amounts for each currency. System can retrieve the last balance for all accounts.
3-      Some like to print a copy of cash in report page or account balance when shift starts
4-      From Control Panel, Click on Cash In & Cash Out, then, click on Cash In link
Note: there are 2 methods for cash in and out.
1-      Bulk Cash In/out: use this link when you cash in/out for all inventory (currencies)
2-      Individual Cash In/Out: use this when you cash in/out for one currency at the time
Bulk Cash In/Out
In bulk cash in teller or admin can select the last closing point and system will set all balances to previous cash out or select point cash out.
This is a very fast way of Cash in Operation
Individual currency cash in
In Cash In page if you are administrator you can perform cash in and cash out for other tellers too. Admin can remove access to cash in out for teller.
Let say teller starts the shift with 67,131.39 CAD. Teller can add this amount to system as starting balance for CAD cash by performing fallowing procedure
1-      Select the Currency (For our example CAD)
2-      Enter amount (67,131.39).
3-       click on add Amounts
Note: teller can use bill denominations panel for keeping track of number of bills. After adding the amount, the report on the right side must show the balance.
There are 2 cash out functions
1-      Individual currency cash out that allows you to cash out (remove money from system) one currency at a time
2-      Bulk cash out that allows you to cash out entire cash and make all currency balances in the system to zero
For individual cash out
From Control Panel, Click on Cash In & Cash Out, then, click on Cash out link
1-      Select the Currency
2-      Enter amount which is closing balance showing on the report on the right side of the form
3-      click on add Amounts
Bulk Cash Out
POS Panel
The POS panel page allow teller to buy and sell currencies
From top menu link click on the POS Panel to go to the POS Panel page and to buy and sell, fallow these Steps
The fallowing example is to sell 205 GBP to client
1-      on the currency table (right) click on the GBP
2-      On the middle page click on We Sell button. This will open buy and sell panel
3-      Enter 205 on the amount textbox and click on calculate rr use the bill denomination to add number of bills and select the View Total button when you are done.
4-      Click on add transaction
5-      At this point transaction not added to the system yet and you can continue adding another transaction to the system. Click on the Complete button to print receipt and save the transaction
6-      Select method of payment and click on Save & Print button. Note there are 2 selection for method of payment. Only one of them is mandatory. This is for the time when client wishes to make payment part in cash and part with debit card or money order or other methods.
Control panel Page:
Admin can set permission to the teller account and give access to areas available. Some offices tellers have only access to POS Panel and all other areas locked for them.
Teller can register client to the system and manage client information from client page. Like upload client ID card, view client transactions. If system used for remit teller can add beneficiary information …
Large Cash transaction report prints all transactions more than 10,000 CAD. If client does 2 transactions in the same day for example. First transaction 5,000 CAD with first teller and latter does 5,000 CAD with teller 2 because it totals 1,000 it will still show up in this report.
Inventory Report
Admin can view live inventory available for all tellers
Buy and sell report is a matrix report to view total buy and sell on the day; moreover, it shows much in base currency received or paid for each currency
Teller Transfer
Teller can transfer money to another teller.
In this example, Teller1 transfers 500 EUR to Teller2
1-      Teller1 logs in to the system
2-      In control panel under POS menu click on TELLER TRANSFER link
3-      Fill the form in this page. Enter amount, select currency and select receiver teller which in this example is Teller2
At this stage teller sent the transaction to Teller2 but the transaction will not be committed until Teller2 accepts and confirms the transfer.
1-      Teller2 logs in to the system if he/she is not logged in
2-      In control panel under POS menu click ACCEPT TRANSFER
3-      On the grid report check the checkbox on the report row
4-      Click on CONFIRM button
The profit report designed for admin or management to have a view of profit made by buying and selling each product (currency).
This report calculates the average buy rate based on information in database and it tells how must sold, what was the cost, at what price sold and with close approximation can tell you how much was made. If the number is negative in Gain column it means company is losing money for this product. We say approximately because the average buy is calculated based on last day buy are.
Admin can set teller permission to the areas in the system