![]() These situations happen, but exceptions can quickly be abused. Some people never come in to pickup their takeout order. Food is prepared wrong, the customer is picky, and no employee wants to pay full price. Voids, discounts, and comps all happen in restaurants. We’ll handle your info according to our privacy statement. They should be made daily and you should not have a large amount of cash on hand. One last simple tip is to make regular deposits at the bank. This could help with inventory loss prevention as well! You can even go a step further to install security cameras where money is handled if you feel it’s necessary. The more people individually held accountable, the less likely they are to commit fraud. Two signatures should be necessary on any sales exception, deposit, and drawer closeout. Having accountability and security checks along the way ensures cash is handled smoothly. 3) Set Security and Accountability Measurements in PlaceĪs shown in the diagram from Toast’s cash management webinar, there are many places where cash can go missing. If the starting amount is correct, that employee now has ownership over their drawer during the entire shift. Since you’ve set a dollar amount that the drawer should always be left at (ex: $150), they will know if the money is off. When an employee arrives, have a manager get a drawer for them and instruct the employee to count their drawer before the shift starts. 2) Have Cashiers Own Their Drawers for the Entire ShiftĪccording to this Cornwell Jackson article on restaurant theft, “cash is the most coveted form of theft, particularly for employees who suddenly experience an outside issue or concern that requires quick payment.”Īn employee short on rent one month won’t have the option to pocket cash if this measure is in place. A good practice is to use tamper-proof deposit bags so managers and cashiers can write in the amount of each bill, change, and the total being deposited. While training and onboarding employees, ensure they’re up to speed on all cash handling procedures related to their jobs. To improve your cash management, implement these 5 procedures in your restaurant. ![]() Each arrow in the diagram below is a potential step where cash management can go wrong: stealing, miscounting, losing money, not properly recording funds, and not holding people accountable.Īlthough restaurant cash management is likely never going to be perfect, processes can be refined. The diagram below explains how to optimize the POS for cash handling. Theft is one of the biggest problems in restaurants. Cash management can go wrong in many ways: stealing, miscounting, losing money, not properly recording funds, and not holding people accountable. ![]() It’s important to keep a close eye on inventory management, but handling of cash is where large loss can occur. You should contact your attorney or other relevant advisor for advice specific to your circumstances.Ĭash management is a loss prevention practice in restaurants. You are responsible for your own compliance with laws and regulations. ![]() DISCLAIMER: This content is provided for informational purposes only and is not intended as legal, accounting, tax, HR, or other professional advice. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License. We recommend using aĪuthors: Lynn Marecek, MaryAnne Anthony-Smith, Andrea Honeycutt Mathis Use the information below to generate a citation. Then you must include on every digital page view the following attribution: If you are redistributing all or part of this book in a digital format, Then you must include on every physical page the following attribution: ![]() If you are redistributing all or part of this book in a print format, Want to cite, share, or modify this book? This book uses the ![]()
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