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Restaurant Industry News |
Saturday November 22nd, 2008 |
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Food & Beverage - Cash Control: are your systems tight enough? - By Ken Burgin |
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Ever had a break-and-enter robbery? When it happens, you have new respect for external security - much more careful and less trusting. |
But many businesses neglect internal controls. Chances are, better systems are needed to prevent staff theft. Use this list for a quick audit:
Cash Control Systems
• Limited access to the safe - a key and access log is maintained. It's not a cupboard!
• A set amount for the 'float' or cash bank for each till
• Float is made up centrally, not taken out of cash from the previous period
• A new float is used for each shift
• One nominated manager is in charge of setting up the till and preparing reports
• Cash on premises and in the till is kept to a minimum
• Use of a drop safe for regular clearance of tills
• Till is cleared throughout each shift (use the cash total alert system on your POS) and placed in the drop safe
• Individuals handling cash have no access to the reconciliation of tills - it's handled separately
• Cash counting and sorting done in a separate locked area
• Large notes confirmed verbally when presented at the till: 'check $50!'
• A printed docket or receipt is available or given if requested
• Tills that don't balance are promptly reported to the managers responsible for explanation
• Appropriate consequences for repeated till balancing errors
• Pay-outs from the till are recorded on a form or deducted from a separate petty cash float
• Cash advances for staff only made in exceptional cases and with authorisation
• Cash tips and credit card tips are given to staff according to set procedures
• Separate deposit prepared for each shift and banked daily
• Bank deposit slips are cross-checked with daily cash reports
• Random audit checks of cash drawers and store cash banks performed on a regular basis
Profitable Hospitality offers management and cost-control systems (Manuals & CD-ROMs) for restaurants, cafes, hotels, bars and clubs. The systems are based on the extensive consulting and operating experience of CEO Ken Burgin, and enable busy owners and managers to set up complete operating and cost-control systems in minutes, not months. Profitable Hospitality also runs regular management training workshops in the areas of kitchen profit & efficiency, restaurant marketing and functions management. A free monthly e-newsletter keeps you up to date on the latest industry management issues. www.profitablehospitality.com.
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Contact Information:
178 Denison St - Queens Park NSW 2022 - Australia
phone 1800-001353 and international +61-2-9340 1089 - fax +61-2-9369 2668
Click for Website
Click for Email
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Profitable Hospitality offers management and cost-control systems (Manuals & CD-ROMs) for restaurants, cafes, hotels, bars and clubs.
The systems are based on the extensive consulting and operating experience of CEO Ken Burgin, and enable busy owners and managers to set up complete operating and cost-control systems in minutes, not months. |
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