Episode 4 - Cash Handling That Makes Cents
Episode 4 - Cash Handling That Makes Cents
Hey Store Manager! Mike back with you on "Smoke Break." Today, we're talking money - specifically, how to handle it right and keep it safe in your store. Money might make the world go round, but poor cash handling can stop your store dead in its tracks.
You know that sinking feeling when the register doesn't add up at the end of a shift? Or when you're training a new cashier and they seem overwhelmed by all the cash handling rules? Let's fix that. By the end of this episode, you'll have a clear roadmap for keeping your cash secure and your books balanced.
Let's start with your daily cash routine. Every morning begins with setting up your registers. Here's the right way: two people verify the starting amount together, count it twice, and sign off on it. This isn't just paperwork - it's protection for you and your team. Keep your starting amount consistent across all shifts. It makes tracking easier and helps spot problems faster.
Throughout the day, your registers shouldn't look like a bank vault. Set dollar limits for each drawer - when cash builds up past that point, it's time for a drop. Train your team to make regular drops into your safe without being predictable about timing. Randomness is your friend when it comes to cash movement.
Here's something many stores get wrong - they forget about coins. Sure, bills get all the attention, but sloppy coin handling adds up fast. Keep your coin trays organized. Empty them regularly. Those quarters and dimes might seem small, but they can throw off your counts big time if mismanaged.
Large bills need special attention. Every bill $50 or larger gets extra scrutiny. Check for security features, use counterfeit detection pens, and record serial numbers if your store policy requires it. Keep these bills separate in your drawer - they're often targets for counterfeiters and quick-change artists.
Speaking of quick-change artists - let's talk about common scams. These folks try to confuse your cashiers by asking to make multiple exchanges with large bills. Train your team to handle one transaction at a time. Once that drawer closes, it stays closed until the next sale. No exceptions.
Shift changes are prime time for cash handling mistakes. Have a solid procedure: outgoing cashier counts their drawer, incoming cashier verifies the count, manager oversees the process. Any discrepancies? Handle them right then. Don't let problems roll over to the next shift - they only get harder to solve with time.
Your safe isn't just for storing money - it's a cash management tool. Use it actively. Set up specific times for pulls from registers. Keep detailed logs of every deposit and withdrawal. Think about it like a bank within your store - every penny needs tracking.
Bank deposits require their own special attention. Mix up your schedule - robberies often happen when stores get predictable about bank runs. Use tamper-evident bags. Always send two trusted employees together. Give them different routes to use. Small changes in routine make a big difference in safety.
Let's talk about your register area setup. Keep it clean and organized. Remove anything that could hide dropped money or make counting difficult. Good lighting isn't just for security - it helps prevent counting errors too. Give your cashiers the tools they need: calculators, proper coin trays, bill holders, and counterfeit detection equipment.
What about discrepancies? They'll happen. The key is catching them early and finding out why. Was it a simple counting error? A mistake making change? A quick-change artist? Understanding the 'why' helps prevent repeat problems. Keep detailed records of any differences, no matter how small. Patterns can reveal problems you might otherwise miss.
Training makes all the difference. Your team needs more than just rules - they need understanding. Explain why each procedure matters. Show them common mistakes and how to avoid them. Practice handling different types of transactions. Role-play difficult situations. The more comfortable they are with proper procedures, the less likely they are to make mistakes.
Question: Why is it important to vary the times and routes for bank deposits, even if it seems more efficient to follow a regular schedule?
Take a moment. The answer? Predictable patterns make your store a target. Varying deposit times and routes reduces the risk of robbery by making it harder for criminals to plan ahead. Safety always trumps convenience when it comes to cash handling.
Your action item for this week: Create a complete cash handling manual for your store. Include every procedure from counting in a drawer to making bank deposits. Add photos of proper drawer setup and examples of completed forms. Make it a living document - update it as you find better ways to do things.
Before you go, hit that subscribe button for more "Smoke Break" episodes. Share these tips with other managers - we all win when we help each other succeed.
Want more ways to keep your store running smooth? Visit cstorethrive.com for resources that'll help you stay ahead of the game.
That's all for today, Store Manager. Next time, we'll tackle security measures that keep your store and team safe. Until then, keep that cash flowing and your business growing - the right way!
