- Employee laziness
- Employee theft
- Mistakes in processing sales
- Wrong change given to customers
There are ways retailers can reduce the opportunity for cash over or under situations. Here are five proven tips:
- Monitor your employees: You can start using your point of sale software to track the sales made by all the employees. You can ask them to enter their number or swipe the cards to process a sale. This will show them how serious you are about precise sales values and also turn them accountable.
- Get Electronic: Try to transact as much sales through integrated debit and credit card terminal using electronic gadgets as possible. This helps to reduce your reliance on cash. Though it is small clip from your sales, but it will ultimately help you save on banking, any mistakes or other processing overheads.
- Employee Accountability: Every employee must have experience in balancing the cash at the end of the day. They must also observe the entire process before-handedly and get to experience what it is like to encounter shortage and the time it takes to investigate.
- Eliminate the Keystrokes: It will eliminate the potential mistakes. Scan each and everything you sale and review how to use your software carefully. Look or shortcut opportunities as much as possible.
- Review camera footage: Review the sales process through the security systems as it will help to know how cash is being handled. How cash is tendered, how change is counted and amount tendered and how notes are being placed cash drawer etc. The greater consistency you have, the lesser opportunity for errors in process.
Resources: http://discounttill.livejournal.com/10842.html