The Float Formula: Never Run Out of Change Mid-Shift
A practical formula for calculating the right opening cash float using your AskBiz sales data — so you always have the right coins and notes to make change throughout the day.
Key Takeaways
- Use your AskBiz Reports average sale value to calculate the right float denomination mix.
- The float formula: take your expected cash sales per hour × 0.3 to set the float amount.
- Record your opening float in AskBiz at shift start so end-of-day cash reconciliation is accurate.
- Review your float calculation monthly as your average sale value and cash/M-Pesa mix changes.
Why getting the float wrong costs you money
Running out of KSh 50 coins mid-morning means turning away cash customers or rounding down — both cost your business. An oversized float means cash sitting idle in the till instead of in the bank earning overnight interest. AskBiz gives you the data to calculate the correct float size scientifically, rather than guessing. The formula takes 5 minutes to run and saves hours of scrambling for change each week.
Step 1 — Find your average cash sale value
Go to Operations > Reports. Filter to Last 7 days and check the 'Avg sale' metric (visible in the Overview — currently showing in the second metrics row). Then switch to Reports to see the split between cash and M-Pesa. Your average cash sale is what you'll need to make change for most often. If your average sale is KSh 274, you'll need coins and notes up to KSh 300 in the float.
Step 2 — Apply the float formula
Float formula: (expected cash sales per hour) × 30% = opening float target. If your busiest hour does KSh 5,000 in cash sales, your float should be KSh 1,500. Break this into denominations: 50% in KSh 50 coins (change for small purchases), 30% in KSh 100 notes, 20% in KSh 200 notes. Adjust the denomination mix based on your average sale value — higher average sales need more large-denomination notes.
Free — no card needed
See this in action for your business
AskBiz tracks these metrics automatically — just connect your data and start asking questions.
Start for free →Step 3 — Log the float in AskBiz at shift start
At pos.askbiz.co, when opening a new cashier session, the till prompts for an opening float amount. Enter the exact amount counted from the cash box. AskBiz uses this figure to calculate the expected cash balance at end of day: Opening float + Cash sales - Cash refunds = Expected closing cash. If the actual cash in the till differs from this figure, the discrepancy is flagged immediately in the cashier's session report.
Hack — Use yesterday's close to set today's float
Rather than counting the float from scratch every morning, AskBiz's closing cash figure from yesterday becomes today's opening float automatically if you leave the agreed amount in the till overnight. This eliminates the morning count for most days. Only recount if there was a discrepancy the previous day or if cash was removed for banking.
Reviewing float effectiveness monthly
Go to Operations > Reports and check how often your cashiers recorded change-giving errors or float top-up notes over the past month. If the Audit Log shows multiple 'float added mid-shift' entries, your opening float is too small. If end-of-day cash consistently runs 30%+ over the expected amount, your float is oversized and cash is idle. Adjust once per month to stay optimal as your sales volume and cash/M-Pesa mix evolves.