Cash management in business is very crucial. All systems that are put in place end up in cash management. Businesses which handle a lot of cash at the point of sale need to come up with a way to regulate the money. MS Cash Drawers have been successfully used to handle cash since their introduction in 1974. Your business needs one too. There are several benefits your business will enjoy from making this decision. Here are some.
Benefits of using a cash drawer for your business
Businesses like supermarkets and restaurants collect cash from customers when they pay for goods and services. They also need to give change to the same clients. The cash drawer is integrated with the billing system, and therefore the manager can see the amount of money a cashier is holding on site at any given moment. Since they have the maximum amount they can hold, then the in charge will collect after every few hours or every time the maximum amount is reached. This ensures a better management of money at all time.
Reducing cash fraud
Cash drawers are handled with utmost care in many businesses. The system controls opening and closing of the cashbox, and therefore not anyone can access. Only the cashier with the rights to the system or a senior person in the company only when there is an emergency. The cashier also opens only after cashing the guest’s bill which is an indication they are paying. The locking system and the material of the best cashbox are of high quality to ensure no one can break into it easily.
A manual cash drawer will have a key which is assigned to the responsible cashier. Only such a person can access the cash drawer and therefore will be held accountable if money gets lost. The computerized cash drawers are even better as the system keeps a track record of whose username and password opened it. This creates a high sense of accountability at any one moment. If a cashier opens the cash drawer for no good reason, the system will detect and report.
Easy cash reconciliation
Reconciliation is the most difficult part of any cash handling. Therefore, a system which can make this process much easier is then worth investing in. Cash drawers, help in cash management, reduce theft and increase accountability. This in return help during cash reconciliation at the end of the cashier’s shift. Therefore any business which handles cash at the point of sale should consider getting a cash drawer.