What best practices should be followed for handling cash?

Counting cash regularly and securing it in a safe is a critical best practice in cash management. This approach helps ensure accuracy in financial transactions and reduces the risk of theft or loss. By regularly counting the cash, staff can quickly identify any discrepancies and address them immediately, which enhances accountability.

Securing cash in a safe protects it from theft and unauthorized access, maintaining the financial integrity of the operation. This practice also helps in maintaining a clear record of cash flow, which is valuable for tracking sales and understanding the financial performance of the business.

In contrast, handling cash carelessly to speed up transactions could lead to mistakes or theft, and counting cash only at the end of the day could result in undetected errors throughout the shifts. Allowing all employees access to the cash register increases the risk of mismanagement and potential fraud.