Tip of the Day: Have Set Cash-Handling Policies

Have set cash-handling policies. Regularly scheduled cash counts throughout the day let employees know that money is being closely monitored. Have specific people handle cash, and set policies for securing cash after a sale or delivery. A cash-counting machine can be a good investment, says Tony Gallo, managing partner at Sapphire Risk Advisory Group.

“All of this sets the tone. It starts with the owner, the management—what they allow and don’t allow, and how other people react to that,” he says. Internal thefts usually occur because the right policies and procedures are not in place, or are not consistently followed.