Handling money.
WHY IT DESERVES ATTENTION
Cash-heavy, high-transaction businesses are where losses occur.
WHAT TO ESTABLISH
A point of sale system recording every transaction Reconciliation at the end of each shift Separation between taking orders and handling money, where possible
WHY RECORDING MATTERS
Unrecorded sales cannot be reconciled, and losses are invisible.
WHAT TO RECONCILE
Sales recorded against cash and card receipts.
WHAT DIFFERENCES INDICATE
Errors, or losses.
WHAT TO INVESTIGATE
Any consistent pattern.
WHAT COMMON LOSSES LOOK LIKE
Orders not rung up Voided transactions Discounts applied improperly Stock leaving without sale
WHAT CONTROLS HELP
Individual logins on the system Authorisation for voids and discounts Review of voids and discounts by person Stock counts against sales
WHY INDIVIDUAL LOGINS
Shared logins make attribution impossible.
WHAT PAYMENT METHODS TO OFFER
Whatever customers use: cash, cards, transfer.
WHAT TO ESTABLISH ABOUT TRANSFERS
How they are confirmed before the customer leaves.
WHY
False confirmations are a known problem.
WHAT TO DO
Verify receipt in your own account, not a screenshot.
WHAT TO ESTABLISH ABOUT CARD TERMINALS
Charges, settlement timing and reliability.
WHAT TO PLAN FOR
Terminal or network failure.
WHAT TO KEEP
Daily reconciliation records.
WHAT TO BANK
Regularly, rather than accumulating cash.
