Money counter, depository safe, money bag etc;

[acesdeals]

About to get into my store but was wondering about money, how do you guys usually deal with all the money you make?

How much do you keep in the drawer, do you deposit in the bank every wk or so, do you have a safe underneath the register to store excess money you dont want in the register? Do you have cameras pointed at the safe and register?

Do you use a money counter, how often and when do you count?

I am a security fanatic, i go overboard sometimes. But my motto is better safe than sorry.

 

[compnet]

Most people pay with a card.. more worried about parts/laptops than cash on hand.

 

[Carl]

I keep $100 in the drawer as "Bank" (removing $50 and $100's as they come in and customer leaves)
The safe is in my office - away from prying eyes and making it less convenient should I get robbed.

Deposits are Daily (I prefer after work as I don't like leaving it overnight, but some prefer to keep the deposits overnight)

Suggest Parking Lot cameras (deterrent and gets plate, car and occupants)
Suggest camera pointed at door (Mark Door w/ height tape)
Suggest Camera behind counter pointed at register area - (not necess at register unless employees)
Have used "Pinhole" cameras above register.to see if employees stealing.

Don't use money counter - I can count to 10 without help.
(Most transactions are Check or CC anyway)
Count after closing (Unless employee audit) and its a simple matter of total receipts -$100
should be whats in the drawer - or otherwise accounted for - lunch receipt or petty cash note.

 

[RichmondTech]

That's a lot of personal questions that I wouldn't tell anyone outside of my business.

Do what you think is right.

 

[acesdeals]

i tend to get paid cash a lot, i would say 5% of my payments are with CC

which is why i created this post, but i understand most companies to get paid with CC i mean i only use CC myself

 

[TenYardFight]

i tend to get paid cash a lot, i would say 5% of my payments are with CC

which is why i created this post, but i understand most companies to get paid with CC i mean i only use CC myself

this won't be the case when you get your store.

 

[twincountycomputers]

I flat-out refuse checks unless it's a person I know or a business I serve. I have a big red sign that says "NO CHECKS". if you take them from anyone that comes in I feel sorry for all the time your going to be spending at the courthouse watching a judge slap someone on the wrist for bouncing a check.

same as the guys above but I try to keep my cash drawer at $60 or so, I would say I get an even amount of cash and credit cards on average. I pull anything bigger than $10 or anything over $60 as soon as customer leaves.

 

[andcorptech]

I flat-out refuse checks unless it's a person I know or a business I serve. I have a big red sign that says "NO CHECKS". if you take them from anyone that comes in I feel sorry for all the time your going to be spending at the courthouse watching a judge slap someone on the wrist for bouncing a check.

Well your assumption is way off in my case anyhow. We have taken cheques for the nearly 4 years ive owned it and 14 years prior to that. I dont know about the previous owners but ive never had one bounce yet.

Most of my account customers pay via cheque or direct deposit.

 

[AlaDes]

I don't have any type of security and only start my cash drawer out with $100 each day. Although the building I am currently in isn't much, I don't have to keep allot of cash on hand or have much security because my bank is directly in front of me and their security system gets everything. The way my building faces the bank, their cameras can even see who is inside my shop
As far as checks, I haven't had a problem yet but am still cautious and will not take out of town checks. As far as my bill payment center, I only take cash for that.

 

[TenYardFight]

I carefully accept checks. Even if 5 percent bounce, I'm doing alright compared to accepting a credit card. Never had one bounce yet. One rule in my shop: we deposit the check within 3 or 4 hours!

 

[SprinterTech-WI]

I keep about $250 in the till at all times, but we buy/sell a lot... on Monday I paid out over $1,000 in cash, actually spent more than I took in, but then some days I'll take a couple thousand in..... about 50% of our customers pay with CC, works by me! We do accept checks, and have had a few bounce, but it's still worth it.
I do have a full security system as well, and have never had any issues yet..... I do have insurance as well....