Safes and Money Mangagement

In your opinion, what is the best way to handle money? Night drops? Safe? How heavy duty of a safe do you need in order to keep money in over night?

We take ours to the bank each night…an employee follows manager to bank. We pick up the deposit receipt each morning, make sure it matches and get any change we need for that day. On occassion we make a deposit after lunch if we have had a great dayside.

I would be iffy about leaving money around the store…over the years employees, ex employees, their friends would know this information…and ya just never know.

Kris

Edited: I hit the wrong button on the poll…so subtract one of the keep and take in morning…and add take to bank each night…oops.

You may want to check your insurance policy. Mine has a specified cash on site coverage. It is basicly the amount that I use for the float in my tills. That money I keep in a safe that only 2 of the staff have the combination (which I am able to change).

We do our deposits every night as well. Also, the opening manager recounts everything in the morning to make sure that everything is there. I dont really have to worry about others coming in during the middle of the night as our security system ignores everybody’s codes but mine during certain hours of the night. If our cash is off by more than a certain amount, the manager has to call me to tell me about it and tell me why its that way.

We don’t have enough cash at the end of the day for me to be to be worried about it. I have surveillance running, the police department is 1/2 a block away and the sheriffs department is a block away, so a pretty comfortable neighborhood. 8)

Our cash goes to the bank every night. I never understood why some people want to keep it in the store. If the oney is off, if still be off in the morning.

I don’t worry alot about shortages. I deduct them from bonuses.

Closing manager drops the deposit at the bank. However, I tell all my managers that if they feel less than 100% safe taking the deposit to the bank leave it in our safe. If they leave it in the safe they call and leave me a message telling me so.

As far as safes go we have a McGunn safe. They don’t the make the model we have anymore but I wouldn’t go run a store without it.

http://www.fireking.com/mcgunn_safes_easy120a.html

In my opinion, you shouldn’t leave any more money in the store than you are willing to loose.

I have heard that it is best leave the door to the safe open and all of the tills open so the crooks don’t destroy thousands of dollars of equipment and possibly your store too by trying to get them open. POS’s are expensive to replace, aren’t they?

I assume that you must leave some money in the store to put in the till in the morning, so I guess that you need a floor mounted immobile safe with a time delay lock for that. Deposit everything else you can and let the bank worry about it. I would hope it is common knowledge that you religiously deposit all your receipts maybe even two or three times a day so it is apparent that your place is not worth robbing.