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― Why bother?
― Physical infrastructure
― Best Practices: Cashiering
― Cash handling
― Tender Types
― Procedures
― Audit
― Summary
WHAT WE WILL TALK ABOUT
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―Organization:
⁃ Protecting the organization from loss
⁃ Bad Publicity
―Department Manager: Protecting yourself
⁃ CYA
―Staff: Protecting your staff
⁃ External threats
⁃ Internal loss (intentional and unintentional)
WHY BOTHER?
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―Cameras (staff/customer area) / Locked access to cashier area
―Physical separation from customers
⁃ Training on what to do during a robbery
⁃ Where are the credit/debit card swipes
―Panic buttons
―Locked area for storing floats and transfers
―Secure area for counting
―How do you control customers prior to start and at end of day
PHYSICAL INFRASTRUCTURE
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―Locked cash drawers, keys (#’s & location) and individual inserts for
each staff
―Pole displays
―Receipt printers
―Check scanning
―Safe for deposits
PHYSICAL INFRASTRUCTURE. . .CONTINUED
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―Every transaction logged to the correct cashier
⁃ No generic or shared logins
―Never edit a completed transaction
―Always print receipt (transactions, cancel, no sale, refund)
―No sale and cancellation receipts logged at end of day ($0
types)
―Endorse and validate everything - electronically
BEST PRACTICES: CASHIERING
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―Checks must have a phone number on them
―Cash summary sheets with semi blind balance with full
audit
―Spot checks: Floats; Cash on hand (Log these)
―Supervisor override for Cancellations*, price changes,
refunds
BEST PRACTICES: CASHIERING …CONTINUED
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―Start of day count the float before starting
―Count the actual coin in rolls
―Cash limits and what to do with excess money
―No cash refunds after current day. Refund requests
electronically.
―Cash is always placed on top while making change
―Count change to the customer (double count)
CASH HANDLING
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―Over and short always marked at end of day -
electronically
―Every clerk balances out every day and deposits daily
―Limit the number of people who count the cash as part of
the close out. The bank will validate it anyway
CASH HANDLING …CONTINUED
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―Staff are trained to know about audits and electronic reporting
―Training for the event of a robbery (cashiers, supervisors, building, etc)
―Safe Management
⁃ Only store site cash in safe
⁃ Limit access
⁃ Change combination periodically or when staff leave
―Separation of duties / collusion
―Regular audits (logged and reported)
PROCEDURES
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―Minimize movement of cash. Never have 1 person carry
the money
―Look to expedite close out (check tally prior/eliminate count
of credit)
―System outage procedures
PROCEDURES…CONTINUED
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―Multiple Levels (Supervisors, Department Managers, Auditors)
⁃ Daily – Clerks manage their monies and deposits
⁃ Weekly – Supervisors check. Plus spot checks of cash.
⁃ Monthly – Department managers check
⁃ Periodically - Auditors
―Things to look out for: Refunds, Cancels, Voids, No Sale, Regular
over/short
―Cashiering application should export to the GL by deposit.
Preferably automated so no one can change anything
AUDITING
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―Reconcile cashiering to source systems
―Set period (6 months/yearly) to review procedures
―Spot inventory counts (if applicable)
AUDITING…CONTINUED
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Quick easy changes – Low effort/cost
⁃ Cash limits, spot check float/cash, always print receipt, etc
⁃ Robbery procedures
Environmental / Hardware changes – Medium effort/cost
⁃ Hardware (check scanners, cameras, locked drawers, etc)
⁃ Physical environment changes (separating staff/customers, locked
cashier area)
Procedural changes – Hard
⁃ Clerks close each day; limit recounting of cash
⁃ Electronic check presentment
SUMMARY
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3 CLOSING THOUGHTS
LEARN. CONNECT. GROW.
1. Ask us questions
2. Schedule a 1:1
3. Let us know what you think!