AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
At every close, compare what the till or POS system says was sold with what you can prove you received: cash counted against the expected figure (opening float plus cash sales minus receipted pay-outs), card settlements against terminal totals, and every bank transfer confirmed in the bank account, never from a customer's screenshot. Record each difference, and do not deduct shortages from staff pay without following the Labour Act.
Restaurants handle three kinds of money at once: cash, card and transfers, often through several staff in a single shift. Losses rarely come from one big theft. They come from small, repeated gaps: a transfer that never arrived, a bill voided after payment, change given from the wrong float. A ten-minute closing routine, done every night, finds them.
Before service: floats
- Till float: a fixed amount of change, the same every day, counted and signed for by the cashier at opening.
- Waiter floats: if waiters collect cash at the table, give each a small, fixed change float and record it against their name.
- One drawer, one person: each till drawer belongs to one cashier per shift. Shared drawers make shortages impossible to trace.
During service: three rules
- Every order goes through the till or order system before it leaves the kitchen. No "I'll ring it in later".
- Voids and discounts need a supervisor's code or signature, with a reason.
- Transfers are confirmed on the restaurant's own banking app or a payment notification from the bank before the customer leaves. A screenshot can be edited or show a transfer that later fails.
At close: the reconciliation
Print the end-of-day sales report (often called a Z report) and work through this sheet. Example figures:
| Line | System | Counted or confirmed | Difference |
|---|---|---|---|
| Cash: float ₦20,000 + cash sales ₦112,000 − receipted pay-out ₦3,000 | ₦129,000 | ₦127,800 | ₦1,200 short |
| Card (POS terminal totals) | ₦158,000 | ₦158,000 | ₦0 |
| Bank transfers | ₦216,000 | ₦209,000 | ₦7,000 unconfirmed |
| Total sales | ₦486,000 | ₦494,800 incl. float |
Check: 20,000 + 112,000 − 3,000 = ₦129,000 expected cash. Total sales are 112,000 + 158,000 + 216,000 = ₦486,000. The ₦7,000 transfer gap is the most important line: find the bill it relates to, check whether the customer's transfer is pending or never existed, and contact the customer the same night if needed.
Waiter settlement
Each waiter returns their float plus the cash for every bill they settled in cash, and the supervisor ticks those bills off. Any bill the system shows as paid in cash with no matching money is that waiter's question to answer, tonight, while memories are fresh.
Shortages and the law on deductions
Many restaurants deduct shortages from staff pay. Be careful. Section 5(1) of the Labour Act forbids deductions from wages for fines, and allows a reasonable deduction for injury or loss caused by a worker's wilful misconduct or neglect only with the prior written consent of an authorised labour officer. A blanket rule that "shortages come from salary" is not that. Treat shortages as a management signal first: retrain, change who handles cash, and escalate repeated or large gaps through your disciplinary process.
After close: banking and records
- Bank cash daily, or the next morning, keeping only the fixed float on site. From 1 January 2026 the CBN abolished the cumulative cash deposit limit for individuals and companies, so the old excess-deposit fee no longer applies; weekly withdrawal limits remain, at ₦5 million for corporates with a 5% charge on excess (Daily Trust, December 2025).
- Match card settlements to the next day's bank credit, allowing for the processor's charges; the processor's statement shows the current fee.
- Keep the Z report, the reconciliation sheet and the bank evidence together for each day.
- Set aside taxes collected for others. In Lagos, the 5% consumption tax on restaurant sales is borne by the customer and the restaurant is the collecting agent, remitting by the 20th of the following month (LIRS, reported by TechEconomy in October 2023). It is not your money.
For a general shop routine, see the end-of-day cash-up, and for small expenses, running petty cash.
The weekly review
Daily reconciliation catches individual gaps; a weekly review catches patterns. Once a week, the owner or manager should look at:
- Shortages and overages by cashier. One person with small shortages most weeks matters more than one large one-off.
- Voids and discounts by staff member and by time. Many voids late in a shift, after the customer has gone, need explaining.
- Unconfirmed transfers. Every one should be resolved or written off with a reason, not left open.
- Cash share of sales. If cash sales fall sharply on one person's shifts while covers stay the same, ask why.
Keep the review short and factual, and share the results with staff. People handle cash more carefully when they know someone looks.
What to check first, tonight
- Does every bill in the system have matching cash, card or a confirmed transfer?
- Who approved each void and discount?
- Is the float back to its fixed amount?
- Is the day's cash bagged, counted twice and ready to bank?
Where Pryme fits
A Pryme Business Account can give each till or waiter a dedicated virtual account number, so transfers arrive already linked to the person who took them. Bank-transfer Checkout is free.
Questions people ask
How do restaurants confirm bank transfers from customers?
Check the restaurant's own bank app or bank notification before the customer leaves. Do not accept a screenshot as proof, because screenshots can be edited or show transfers that later fail.
Can I deduct cash shortage from my staff salary in Nigeria?
The Labour Act forbids deductions for fines. A deduction for loss caused by wilful misconduct or neglect needs the prior written consent of an authorised labour officer.
What is a Z report in a restaurant?
It is the end-of-day sales report from the till or POS system, showing total sales by payment type. It is the starting point for the daily reconciliation.
How much float should a restaurant keep?
Enough change for a normal shift, set as a fixed amount and counted at opening and close. The right figure depends on your average bill and how many customers pay cash.
Sources
- Labour Act, full text (Cap L1 LFN 2004) · accessed Oct 2026
- Daily Trust: CBN ends cash deposit limits, raises weekly withdrawals (3 Dec 2025) · accessed Oct 2026
- TechEconomy: LIRS tasks businesses on 5% consumption tax compliance (Oct 2023) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.