A company's cash handling procedures are very important in minimizing theft, both from robbery and internal skimming. Keeping employees honest by installing cameras in cash-handling locations has been proved to reduce internal cash theft. A drop safe ensures that in the event of armed robbery, losses are kept to a minimum. These kinds of safes are usually on a timed lock and are impossible for employees to open. In addition to general procedures and cash drops, it is important for management to make regular audits.
General Cash Handling
Large amounts of cash are a sure draw for criminals, so simply placing a sticker on the window saying that the tills in your store never have more than 50 dollars at any time can serve as a deterrent. In terms of reducing cash shortages related to employee misconduct or unintentional error, change dispensing machines prevent thefts and ensure customers never get too much or too little change. Some stores have taken the automation of cash handling to a new level with self-serve tills, particularly in grocery stores. The upside is that there can be literally no errors in cash handling except for the unfortunate tendency of such machines to reject worn or crumpled bills. Typically, an automated set of tills will still have an overseer to ensure smooth operation.
Cash Drop Procedures
Most retailers make use of a policy that requires cashiers to deposit smaller amounts of money into a communal one-way safe regularly. Much like a mailbox, the safe is designed to accept envelopes, but it's impossible to retrieve the envelopes through that slot. Companies should also keep a log of the drops the cashiers make, either separately or directly, on the cash envelopes. It is important to keep large amounts of cash out of public view, so use secure canvas bags to transport cash from the till to the secured room where the safe is contained. Smaller stores may keep the drop safe near the tills, just so long as it can't be opened by employees.
Strong auditing and cash drop procedures are meaningless if your end-of-day deposit plan involves walking to the bank with a bag full of money. Eliminate both the personal and monetary risk by investing in an armored car service. Armored cars send a clear message to would-be thieves that your company has a strong plan in place and is probably more trouble than it's worth.
Daniel R. Mueller is a Canadian who has been writing professionally since 2003. Mueller's writing draws on his extensive experience in the private security field. He also has a professional background in the information-technology industry as a support technician. Much of Mueller's writing has focused on the subjects of business and economics.