Assigning Accountability Over Cash Receipts
A lack of accountability over the handling of receipts at the register puts both the organization and its employees at risk due to a lack of accountability. If multiple employees can access the same register it is impossible to assign responsibility to individual employees for handling cash receipts. This can lead to a major dilemmas if the till comes up short and suspicion is cast upon the employees without anyway to assign responsibility for the defalcation.
Not only will it be impossible to recover the loss but this also fosters an environment of mistrust between all parties involved and likely will end in damaged relationships and loss of staff morale.
Each employee should be assigned to a specific register and access to the register should be secured with appropriate logins and passwords. Manager access to the register for authorizing returns, credit memos, voids and no sales, should be performed in the presence of both the manager and the employee assigned to the register. In many organizations with a high volume of transactions (such as with restaurants and night clubs), it is common for many employees to have access to the same register. This can be mitigated by having a supervisor or manager present who is actively observing cash handling. More frequent or surprise cash counts are also effective at mitigating this risk.
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