How can businesses handle their physical cash.

[Axis]

It is actively important for a business owner of business manager to know how he or she will handle physical cash realized in his or her business so that they do not fall into the hands of unauthorized individual or individuals who are ready to steal it. The best approach in handling physical cash in a business is by depositing it's into a set aside bank account. Majority of businesses have not totally roll out the use of physical cash in the buying and selling of goods and services even if there is what is known as a cashless business system.

The existence of a cashless business system is to reduce fraud and also the possibility for potential customers and clients to lose their funds to crime indulggers. Whatever the case may be handling of physical cash is important.

 

[Mikes smithen]

Obviously not every businesses today have definitely adopted the cashless system which involves the use of credit card for the transaction of money. Some businesses still operates on the physical giving of cash for goods and services and majority of these businesses may become subject to armed robbery. However the proper way in which businesses can handle physical cash is by entrusting it to a qualified and sincere individuals who can never fail the business. They must also be what is known as segregation of duties which involves the delegation of activities especially cash handling activities to more than one individuals so that fraudulent activities can be minimized and integrity increased.

 

[Etini]

It depends on the size of the business. For a small business, the operator must have a small bag that all cash received in the business are placed and such a bag should always be with the business operator. As cash is received, and placed in the bag, they are recorded.

For a slightly structured business, there should be one particular staff that is designated to receive and record cash as the only job role that person performs. The next thing is to liaise with the company's account manager in the bank to come pick the money to deposit when it is bulky.