--- layout: default_v3 language: default permalink: cashier-skills/cash-handling.html i18n_link: 4256 updated: 2023-01-16 #--- article key-values ---# collection: default_topiccluster t_keyword: cash handling tags: business management, plum pos, cash handling, cashier skills type: supporting page_id: 4256 hreflang_id: 4256 parent_id: 4270 date_published: 2021-09-23 date_modified: 2023-01-16 #--- javascript schema ---# javascript_schema: - script: jquery_3_2_0_min - script: bootstrap_min - script: article_infinite_scroll - script: article_mix_infinitescroll - script: article_mix - script: article_mix_faq - script: article_mix_toc #--- section schema ---# section_schema: - section: nav-main_menu - section: article_body_v2 - section: footer - section: schedule_demo_cta #--- page key-values ---# meta_tags: t_meta_title: 7 Cash Handling Best Practices to Immediately Implement t_meta_description: Cash handling is an important part of business operations. Our industry experts recognize the importance. Keep reading for cash handling best practices to immediately implement. t_meta_abstract: Cash handling is an important part of business operations. Our industry experts recognize the importance. Keep reading for cash handling best practices to immediately implement. i_meta_image: article_body: json-ld_article: v_date_published: 2021-09-23 v_date_modified: 2023-01-16 author: p_author_id: 124 t_author: Lauren Christiansen p_author_url: lauren-christiansen.html i_author: 124.jpg t_author_description: Lauren Is An Experienced Writer Who Enjoys Reading, Travelling, And Spending Time With Her Children. p_author_facebook: p_author_twitter: https://twitter.com/ p_author_linkedin: p_author_instagram: feature_snippet: p_type: text t_title: What is Cash Handling ? t_description: Cash handling is the act of gathering, processing, counting, and depositing money. It is often overseen by a bank teller, though some retailers and restaurants now have the ability to print money orders and cash checks. Cash handling is vital to the financial sector. It's also important to you if you're in charge of your company's finances. content: heading: t_title: 7 Cash Handling Best Practices to Immediately Implement t_description: Cash handling is an important part of business operations. Our industry experts recognize the importance. Keep reading for cash handling best practices to immediately implement. image: i_image: 7-cash-handling-best-practices-to-immediately-implement-1632351445-3034.png t_image_description: accounts payable cash handlers handle cash cash fund cash handler v_image_attribution: //pixabay.com/photos/cash-register-drawer-cash-register-1885558/ v_image_license: Creative Commons Zero v_video: paragraphs: - t_headline: 1. Organization t_text: From maintaining the back office to ensuring there are enough cash handlers available, organization is critical. It is also applicable to how you manage your cash. Restaurant managers must always be aware of where cash is and how it flows in and out of the business.

Great organization skills will minimize loss and theft. They also eliminate common cash handling issues that waste time and resources. Optimize labor management to ensure a POS tracks all employee data at all times. Keep all important paperwork or digital files in one secure location. Know exactly when and how to retrieve these items, and provide applicable managers the access they need. p_headline_type: h3 image: i_image: 1-organization-1632351445-8981.png t_description: //pixabay.com/photos/arm-hand-write-planner-planning-1284248/ v_attribution: //pixabay.com/photos/arm-hand-write-planner-planning-1284248/ v_license: Creative Commons Zero callout_text: - t_title: Key Organization Skills for Managers t_text: The most important organization skills to have as a restaurant manager are time management, physical organization, mental organization, strong communication skills, the ability to delegate, self-motivation, and the capacity to prioritize critical tasks. - t_headline: 2. Enforce Policies and Procedures t_text: There's no reason to establish cash handling rules if managers don't keep them and enforce them. Ensure workers receive effective training and are confident navigating all of the various procedures. Checking in with staff throughout the business day to see whether they are abiding by policies and procedures. You don't need to harass or distrust them; you simply need to engage with them. Review how new hires access cash, handle cash funds, operate cash registers, and process card payments. It is also an opportunity to improve knowledge and correct any mistakes before any issue becomes a larger concern. p_headline_type: h3 image: i_image: t_description: v_attribution: v_license: video: v_video: iSoWykQnq7U v_video_language: default t_name: How to Handle Cash in your Restaurant - Part 1 t_description: Restaurant Owners...In this video I will teach you how handle the cash in your restaurant so you can eliminate mistakes, make more money and prevent theft!To learn more please either watch the video above or click the link below to read the transcript or listen to the podcast on my website.Also, please leave your questions or comments I will answer them all. DOWNLOAD THE CASH HANDLING FORMS-//therestaurantboss.com/handle-cash-restaurant-part-1/ WATCH THIS VIDEO ON OUR WEBSITE-//therestaurantboss.com/handle-cash-restaurant-part-1/ LEARN MORE ABOUT BACON-//ClickBacon.comDOWNLOAD THE RESTAURANT PROFIT GUIDE-//restaurantprofitandperformance.com FREE RESTAURANT TRAINING TIPS-//TheRestaurantBoss.com MORE FREE RESTAURANT TRAINING TIPS-//RestaurantProfitandPerformance.com SUBSCRIBE-//www.youtube.com/subscription_center?add_user=gromfinboss At The Restaurant Boss, I post weekly training tips for restaurants and bar's. Tips range from food and labor cost, to restaurant specific marketing and management. I welcome you to check it out and sign up for my FREE video training series. LET'S CONNECT!Facebook - //facebook.com/TheRestaurantBossTwitter - //twitter.com/RyanGromfinInstagram - //instagram.com/ryangromfin MORE GREAT VIDEOS//www.youtube.com/user/gromfinboss Please be sure to like this video and leave your comments or questions below as well as share this video with your friends, co-workers and other restaurant owners, managers and operators. I promise to respond to every comment or question! Thank you, Ryan GromfinThe Restaurant Boss//TheRestaurantBoss.com v_url: //youtu.be/iSoWykQnq7U i_thumbnail: //i.ytimg.com/vi/iSoWykQnq7U/default.jpg i_thumbnail_1x1: //i.ytimg.com/vi/iSoWykQnq7U/default.jpg i_thumbnail_4x3: //i.ytimg.com/vi/iSoWykQnq7U/mqdefault.jpg i_thumbnail_16x9: //i.ytimg.com/vi/iSoWykQnq7U/sddefault.jpg v_upload_date: 7-6-2016 v_length_minutes: 7 v_length_seconds: 10 v_view_count: 24901 callout_text: call_to_action: p_type: signup t_title: Cash handling questions? t_text: PLUM point of sale has got you covered! t_button_text: Start my free trial p_button_url: v_form_id: 138 v_product: plum-pos background: type: image i_image: https://wp.altametrics.com/assets/images/cta/24-Download_Your_Free_E-book!_copy.png p_video: p_color: - t_headline: 3. Keep Engaging Staff Members t_text: Disengaged staff is a catalyst for poor cash handling practices. Front-of-the house staff members are the ones regularly handling cash each day. It's critical to regularly engage with these employees to assess their skills and improve any knowledge. You should also hold frequent meetings to train workers on good cash management skills and how to prevent loss or fraud. On a side note, engaged employees are also less likely to steal or be careless with money. Find ways to improve employee morale and lower the turnover rate to prevent any poor cash handling practices. p_headline_type: h3 image: i_image: 3-keep-engaging-staff-members-1632351446-4581.png t_description: //pixabay.com/photos/people-girls-women-students-2557396/ v_attribution: //pixabay.com/photos/people-girls-women-students-2557396/ v_license: Creative Commons Zero callout_text: - t_title: Employee Engagement in Restaurants t_text: - t_headline: 4. Keep a Schedule t_text: A good schedule will always optimize cash handling practices. For example, managers may schedule a cash register balance at the end of each shift. They could also make deposits each Wednesday and Friday.

Keeping a schedule goes hand in hand with effective organization skills. It also shows employees what is expected of them and that there aren't ways to cut corners. Setting a schedule will prevent managers from getting overwhelmed with overflowing cash rooms. p_headline_type: h3 image: i_image: 4-keep-a-schedule-1632351446-6666.png t_description: //pixabay.com/photos/female-diary-journal-write-865110/ v_attribution: //pixabay.com/photos/female-diary-journal-write-865110/ v_license: Creative Commons Zero callout_text: - t_headline: 5. Don't Keep Too Much Cash On-Site t_text: In the old days, managers kept a lot of petty cash and cash receipts on site because they didn't have access to automated solutions. When there is too much cash on site, there is always the chance it could get lost or stolen. Set a limit on how much money is allowed in the store and ensure managers know to make frequent deposits at financial institutions. Another method to minimize the amount of cash on-site is to utilize a currency recycler. This is a machine that validates any incoming cash and stores it safely in a vault. Minimizing the amount of cash on site will help to streamline the handling process. p_headline_type: h3 image: i_image: 5-dont-keep-too-much-cash-on-site-1632351446-4104.png t_description: //pixabay.com/photos/money-dollars-usd-financial-loan-3488345/ v_attribution: //pixabay.com/photos/money-dollars-usd-financial-loan-3488345/ v_license: Creative Commons Zero callout_text: call_to_action: p_type: signup t_title: Best cash handling tips t_text: PLUM point of sale keeps restaurants running at top speed and efficiency t_button_text: Start my free trial p_button_url: v_form_id: 138 v_product: plum-pos background: type: image i_image: https://wp.altametrics.com/assets/images/cta/24-Download_Your_Free_E-book!_copy.png p_video: p_color: - t_headline: 6. Make Sure to Hire Enough People t_text: When there is plenty of staff on hand to take orders and process transactions, there's a greater ability to achieve and enforce cash handling policies. It takes a lot of managers and high performers to maintain security, oversee new hires, and enforce any rules. While it's never a good idea to overhire, hiring just the right number of people will make cash handling easier. Shortages lead to more incidents of loss, theft, disorganization, and non-enforcement. p_headline_type: h3 image: i_image: 6-make-sure-to-hire-enough-people-1632351446-8631.png t_description: //pixabay.com/illustrations/cafe-restaurant-shop-waiter-owner-4075492/ v_attribution: //pixabay.com/illustrations/cafe-restaurant-shop-waiter-owner-4075492/ v_license: Creative Commons Zero callout_text: - t_title: Labor Problems in the Restaurant Industry t_text: - t_headline: 7. Invest in Technology t_text: Finally, there's no better way to optimize cash handling than investing in an optimized POS system. POS software streamlines all restaurant tasks and handles all sales data. Every transaction is securely stored in one centralized location, so there's very little ability to commit fraud or theft. Managers know exactly who is on schedule and when, as well as who is handling the cash drawer. If there is a discrepancy, they can simply review the data and see who to talk to about it.

There's also less chance for human error with any computerized system. Fewer errors mean fewer discrepancies and a better cash handling process. Better handling procedures due to technology leads to more money, happier employees, and a better reputation. p_headline_type: h3 image: i_image: 7-invest-in-technology-1632351446-5829.png t_description: //pixabay.com/photos/bar-barmaid-barman-bartender-1238379/ v_attribution: //pixabay.com/photos/bar-barmaid-barman-bartender-1238379/ v_license: Creative Commons Zero callout_text: call_to_action: p_type: signup t_title: Cash handling for the 21st century t_text: PLUM point of sale is a revolutionarily effective restaurant technology tool t_button_text: Start my free trial p_button_url: v_form_id: 138 v_product: plum-pos background: type: image i_image: https://wp.altametrics.com/assets/images/cta/24-Download_Your_Free_E-book!_copy.png p_video: p_color: event_body: json-ld_event: t_name: Employee Scheduling for Restaurant Managers t_description: Attendees will learn how create excellent schedules. The class teaches managers how to estimate the number of employees they need to staff their locations; how to accurately forecast their customer demand; how to quickly and accuaratly write and communicate schedules to employees; and how to evaluate the accuracy and optimization of their schedules to make adjustments. v_start_date: 2022-08-08 i_image: p_location_name: Altametrics Online Webinar Course p_address: webinar.hubworks.com?site=altametrics v_price: 10.00 t_offer_description: Priority Registration v_registration_url: webinar.hubworks.com?site=altametrics faq: t_faq_title: Frequently Asked Questions faq_ask: - t_question: How do you handle cash? t_answer: Do you know how much you spend each month? Have you saved for your retirement? Have you considered what will happen if you get hurt and can no longer work? If you've answered no to any of these questions, you need to take a closer look at how you handle your finances. A lot of us are living paycheck-to-paycheck, accumulating debt, and not making enough to save for the future. This is a recipe for disaster. It's time to take charge of your finances. Particularly if you run a business. - t_question: What are basic cash handling procedures? t_answer: Handling cash is a part of every business, and no business should be without a set of cash handling procedures. Cash handling procedures should be tailored to the size of your business, but no matter the size, you should have procedures that cover each of the following- making deposits, making withdrawls, making change, reconciling cash registers, marking the cash register tape, and cleaning the cash register. Be organized, efficient, and proactive about the way you handle money in your restaurant. - t_question: Why is it important to have cash handling procedures? t_answer: Cash handling procedures are important for many reasons. The most important one is to keep the money safe. But there are other reasons, too. It's important to know how to handle cash so you're prepared to deal with any situation that may come up. For example, let's say you're at a food cart and someone hands you a $20. Should you count the money out to them right then? What if you're at a grocery store and someone hands you a $100 to pay for their groceries? There are many scenarios where cash handling procedures may come in handy. ---