Cash sales should be made only by employees who
are bonded, trained, and specifically assigned to the task.
Arrange your staff’s work schedules in a way that you’re never
short-handed at the counter or cash register. That way, it
won't be necessary for the wrong employee — say, a clerk from
another department — to “fill in” for cashiers who are away
from their posts.
Adopt a firm policy against accepting
third-party checks, even if the customer has proper
identification. If you’re a supplier, you might want to limit
the dollar amount of single-signature checks. And if you
provide service at customers’ homes, consider billing your
clientèle — or accepting credit cards — rather than
allowing employees to collect cash payments on the spot.
Naturally, you want to account for cash
receipts promptly and deposit them within one banking day. If
you have multiple accounts, be sure each one serves a useful
purpose. The more bank accounts you have, the less efficient
it is to track and reconcile deposits.
