17 Jun Why Cashing Out Your Cash Draw Can Save Your Business
Cash controls are an incredibly important part of any business. Without them a thief can take and take and go unchecked for years. The cash draw is the most obvious place to steal from and therefore one of the most commonly stolen from sources of cash. If someone stole $50 a day from you for a whole year it would equal $18250. Could your business come back from that kind of theft? If you did catch them could you prove to your insurance company or the authorities that they were stealing?
By cashing out your draw and balancing it to your daily sales information you will know the first day that there is an issue. By logging daily over/shorts and keeping them in line with employee records you can detect patterns of theft. If Joey works every Wednesday and the draw is short $45 every Wednesday it becomes much clearer that you may have an issue. Numbered draws are an ideal way to clearly see if there is a cash theft issue. If each employee is assigned their own draw and each draw gets cashed out individually then it is certain if a particular employee is the issue. Different point of sale systems can offer different options. If you can’t afford a system that tracks employee draws then you can institute a system yourself pretty easily. One employee per register, z out the register at the end of shift and pull the cash draw when you z it out. Start each new employee with their own change and repeat the procedure.
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