#315 - Cash Control: How to Make the Systems Stronger
Given the rivers of cash that flow through most bars, hotels and restaurants, it's surprising how weak the internal controls can be, expecially with small operators.
Use this list for a quick audit of your systems - tightening up may be less 'convenient' but everyone will get used to it:
Cash Control Systems:
- Limited access to the safe - a key and access log is maintained. A safe is not a cupboard!
- A set amount for the 'float' or cash bank for each till, and a new float is used for each shift.
- Float is made up centrally, not taken out of cash from the previous period
- One nominated manager is in charge of setting up the till and preparing standard reports
- Cash on premises and in the till is kept to a minimum
- Use of a drop safe for regular till clearances
- The 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 and not 'corrected' or 'groomed'
- Cash counting and sorting is done in a separate locked area
- Large notes are confirmed verbally when presented at the till: 'check $50!'
- A printed docket or receipt is available or given to customers if requested
- Tills that don't balance are promptly reported to the managers responsible for explanation
- Appropriate consequences for repeated till balancing errors eg - cash under of more than $5 is cause for a formal warning
- 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 authorisation
- 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, even if you have perfect staff!
See more: 32 Cash Register & Point of Sale Control Systems and the wide-ranging articles in Fraud & Theft Control Dept.
Do you have other suggestions? Please add them to the comment box at the bottom of the page...
Also check:
The Fraud Triangle: Could it Apply in Your Business?
Management Logbooks - make it easy for duty managers and chefs to record daily activities and incidents. Perfect for reconciling with variations in daily takings.
Cost Control Forms & Profit Calculators - pinpoint the problem areas fast!
Ready Reference & Downloads for 1st Class Members:
>> Make Use Of the
Restaurant, Kitchen & Bar Management Downloads - we've done the work for you
>> Ready to Use Staff Management Resources - covering all the key issues
>> Download the hundreds of Staff Manuals and Forms - ready when you need them.
>>> Click to Join Profitable Hospitality and Start Running a More Successful Business.
2010 Training & Events Calendar
>>> Starting a Cafe or Restaurant Workshop - 7 or 21 August in Sydney
>>> Effective Online Marketing: 1 Day Workshop for Clubs - Sydney 29 July, Brisbane 3 August
3rd Great Year >>> Food & Beverage Management Summit - Sydney 8-9 September
Internet Marketing Workshops - see the wide range offered in Sydney every month.
With warm regards -
Share your Comments and Suggestions: Add your name beside Login, and your ideas where it says 'What's on your mind...'
| 
Restaurant Management
