You can create lean and profitable systems in your restaurant by fine tuning the systems you have in place. Manage money and margins with these four key controls.
1) Fingerprint Security
Are you using fingerprint sensors at the point of sale? These are highly effective and easy to use—and show you exactly who’s doing what when it comes to cash handling and time clock entries. And biometric ID has come a long way—you can install today’s sensors with confidence, knowing that login will be consistently fast and reliable.
2) Cash Counting Safeguards
Implementing safeguards around cash handling can help you avoid losses and backtracking. Set a default opening amount for banks in the POS. Use a quantity counting method to record the number of bills and coins rather than the totaling dollar amounts. Try allowing bank recounts in the POS so counts can be double checked by a second person. And set the POS to require blind counts to deter staff from pocketing overages.
3) Set Cash Limits
By limiting cash on hand, you reduce the risk of theft. You can set limits at the POS to provide a warning to managers when there is too much cash on hand and a drop is required. To make staff accountable, assign responsibility to one person for the contents of the cash drawer. Use security settings to restrict access to comps, voids and discounts to minimize the possibility of these being converted to cash and then pocketed by a dishonest employee.
4) Detect Irregularities
Another effective way to keep your finger on the pulse is to audit the flow of cash. Set account signature slips to print on receipt printers whenever money is removed from or added to a cash drawer, employee bank or safe. Review the reports to track cash flow and detect irregularities. And review your store bank account reports regularly to watch for short or over counts, suspicious voids, unusual payouts, or coupons added after close.
With these controls in place, it becomes difficult for staff to cheat the system. In fact, an operations exec for one of our chain clients told us that they’d implemented these cash controls in their restaurants. As a result, all the tricks employees used to play with the POS system just stopped.
Is there anything here you can use to beef up your restaurant cash control systems?
Posted on Thu, Dec 08, 2016 @ 08:12 AM.
Updated on April 24, 2019 @ 6:56 PM PST.
Posted by Jennifer Wiebe
An occasional contributor to On Point, Jennifer led the marketing team at SpeedLine from 2002 to 2018. She loves books, yoga, playing at the beach, and commenting on bad TV with her family.| Author's website