Cash handling
What is cash handling?
Cash handling is the process of receiving, counting, storing, and managing physical currency in a business. It includes tasks like making change, processing transactions, reconciling cash drawers, and depositing money securely. Proper cash handling procedures help prevent errors, theft, and fraud while ensuring accurate financial records. Businesses use security measures like cash monitoring systems, employee training, and video surveillance to reduce risks and maintain accountability.
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Why is cash handling important?
Cash handling is important because it ensures accuracy, security, and accountability in financial transactions. Poor cash handling can lead to errors, theft, and fraud, resulting in financial losses and operational inefficiencies. By following strict cash-handling procedures, businesses can prevent shortages, reduce shrink, and maintain accurate financial records. Secure cash management also improves employee accountability and helps deter both internal and external theft. Many businesses use video security, cash monitoring systems, and employee training to minimize risks and ensure cash is handled safely and efficiently.
