5 Tips for Reducing Cash Handling Errors During Peak Hours
Regardless of the industry, handling cash during busy periods can leave staff feeling short of time and under pressure. With staff focused on speed, the chaos of peak times inevitably leads to errors like miscounts and even the acceptance of counterfeit cash.
If your organization is wondering how to handle money better and struggles to straddle the line between efficiency and accuracy, Cashmaster has a number of recommendations guaranteed to make your cash management experience much more straightforward. Keep reading our guide to discover our list of cash-handling best practices.
1. Dual-Counting
The process of dual-counting involves two members of staff taking turns counting cash, ensuring that their totals match for improved accuracy. Not only does this reduce errors and cash register discrepancies, but having two signatures on each report also boosts security and accountability.
Using two staff members to verify cash totals creates a robust control process, helping businesses minimize discrepancies and protect against costly errors
2. Cash Counting Machines
For increased accuracy and efficiency, money counters are a must-have in modern workplaces. Eliminating the risks of manual counting, our Cashmaster One range uses count-by-weight technology to accurately count full cash registers in under 60 seconds. Combined with Cashmaster Printer One, our machines can enhance traceability and further accountability during reporting.
In addition to improving the accuracy of your reports, our cash counting machines save organizations hours of labor year on year, allowing your staff to focus on providing the customer service that will make customers keen to come back.
Take a look at our innovative range of cash management solutions, including:
3. Cash Register Accountability
When it comes to handling money better, we recommend giving your staff a sense of responsibility over their registers. If you’re running a larger organization, experiment with assigning members of staff to specific cash registers, so that they can be held accountable for the accuracy of their cash management at the point of sale.
This level of accountability encourages thorough checks by cashiers. It allows employers to easily identify the root of errors and discrepancies, dealing with the problem before it worsens.
4. Fraud Detection Machines
Handling cash at the point of sale can feel like a lot of pressure. So, why not alleviate that pressure from staff and eliminate the risks of fraud by investing in bill validation machines? These fake bill detectors scan bills at the point of sale to determine whether they’re authentic before they're accepted and stored in the register.
Cashmaster GenuOne can scan bills in as little as 0.5 seconds, reducing time wasted manually checking for holographic signs and watermarks and offering peace of mind for employees when handling cash.
5. Organize Your Registers
One of the most effective ways to improve cash handling accuracy is to standardize register layouts across your business. Clearly defined cash trays and coin slots by denomination create consistency and reduce variation between locations and staff.
A uniform register structure streamlines cash counting, speeds up change handling at the point of sale, and helps minimize errors during busy trading periods
How to Handle Money Better with Cashmaster
At Cashmaster, we’re keen to help organizations streamline their cash management processes and save precious hours wasted counting money. Our innovative cash management solutions are designed to boost efficiency and accuracy while preventing fraud, helping your business truly thrive.
Book a consultation with our team or contact us for more information about how our services can be tailored to suit the needs of your organization.
