Ever had a break-and-enter robbery? When it happens, you have new respect for external security - much more careful and less trusting. But many businesses neglect internal controls. Chances are, better systems are needed to prevent staff theft. Use this list for a quick audit:
Cash Control Systems
• Limited access to the safe - a key and access log is maintained. It's not a
cupboard!
• A set amount for the 'float' or cash bank for each till
• Float is made up centrally, not taken out of cash from the previous period
• A new float is used for each shift
• One nominated manager is in charge of setting up the till and preparing
reports
• Cash on premises and in the till is kept to a minimum
• Use of a drop safe for regular clearance of tills
• Till is cleared throughout each shift (use the cash total alert system on
your POS) and placed in the drop safe
• Individuals handling cash have no access to the reconciliation of tills -
it's handled separately
• Cash counting and sorting done in a separate locked area
• Large notes confirmed verbally when presented at the till: 'check $50!'
• A printed docket or receipt is available or given if requested
• Tills that don't balance are promptly reported to the managers responsible
for explanation
• Appropriate consequences for repeated till balancing errors
• Pay-outs from the till are recorded on a form or deducted from a separate
petty cash float
• Cash advances for staff only made in exceptional cases and with authorization
• Cash tips and credit card tips are given to staff according to set procedures
• Separate deposit prepared for each shift and banked daily
• Bank deposit slips are cross-checked with daily cash reports
• Random audit checks of cash drawers and store cash banks performed on a
regular basis
~ Cashier level access will be only for any normal bill transaction. Approval need to be get when there is any discount, open cash drawer beside normal bill transaction, refund or voiding of bill. Only Manager card have the mentioned access.
~ Only Manager on duty allowed to void bill for the cashier. Reason of voiding need to be stated, original bill need to be attached with the void bill and signed by manager. This will be same as refund.
~ Management should check all report in the weekly
basis.
~ If possible CCTV should be fixed to monitor cashier area.
.
Leave a comment