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Strike Pay Dirt With Good Cash Handling

Hit Pay Dirt With Good Cash Handling Procedures 

cash banking sheetDepending how your Battlefield Business is structured you and your staff maybe we handling bucket loads of cash. 

Before we set up procedures to limit the amount of cash handling on the battlefield we collected, in high season, up to $10,000 in cash for just one day’s turnover. And that's just way too risky. 

If you are not there to personally oversee the cash flow then it is prudent to establish good control measure. 

Consider these 6 ideas for improved cash handling. 

1. Floats

Floats. We have a float for each venue, each event. We used to keep $110 as the cash float, now we have reduced this down to $90. Since we run multiple events simultaneously for mobile laser tag, each venue is allocated a money pouch. See the image for an example of our cash banking for after a weekend's events. The floats are issues from the admin office to each Shift C.O. The Battlefield HQ software also can print out all the Rego Forms including the Event Balancing Sheet there is a spot for staff to sign for their float. 

2. Receipts

Receiptsbalancing sheetThe booking software "Battlefield HQ" records all bookings. Customers are encouraged to pre-pay with big discounts. So most of the turnover is actually deposited directly into the bank either via Visa / MasterCard over the phone, direct deposit or online via credit card or Paypal. At the close of business each day customers are emailed a copy of their receipt / invoice. Or, if requested, a printed copy can be posted to the customer. So each day the cash sales from events as well as the electronic funds are balanced. 

3. Safes

Safes. Do you have a safe? A safe with a combination lock or a key is way more secure than the left hand draw in your desk. Once you set up a safe consider, how many people other than you have access to it? Keep access to the safe limited. 

4. Drop Safe

Drop Safe. At the end of each shift the C.O. returns the truck and the equipment and the cash to the Depot. He or she also returns the pouch to a drop safe at your depot. Then each Monday the office staff reconcile and bank the takings. 
registration form That way cash on premises in the till and on the battlefield and in the money pouches are kept to a minimum. The staff who handle the cash are different from those who reconcile it, so there is less chance of the paperwork (and the cash!) being doctored. 

5. Petty Cash

Petty Cash. Most small businesses need petty cash. Cash used from the till to pay for petty cash items are also tracked and recorded. In Australia cash tips are rare, however elsewhere they are common so a system for tracking and divvying up the proceeds is a good idea. 

6. Third Party Checks

Third Party Checks. A random checks or audit of cash pouches and tills and safes on an ad-hoc basis offers a good changed for "checks and balances". Even if you have fabulous staff no one is perfect so it is great idea to get a third party to check on things. snack sales sheet