Revel POS 101: Managing Your Cash Flow Like a Boss
Cash is Often King
Even in the new age of endless payment options, cash is still top dog. While there are fees attached to processing credit cards, cash transactions don’t cost businesses a thing. Cash flow is always vital to any properly managed business. It follows then that keeping your business’s cash safe is a top priority.
Unless your business is large enough to employ a security team and to have security cameras that are continuously monitored, it’s important to have employees balance their tills and make cash drops into a safe either after high traffic periods or at the end of each shift. By centralising cash drops into a safe that is monitored only by you as the business owner reduces the chances of employee theft significantly.
If you’ve been using Revel for a while now, you’ll notice that with the 2.16 release that we’ve made some pretty big improvements to our cash management with the “Safe Drop” function. Formerly, you could perform a “Bank Drop”, but it was missing an important component to managing cash in the back office. Our Safe Drop is now an efficient verification tool allowing you to ensure that the cash amount stated in each drop matches what is physically in the drop by documenting each step.
When it’s time to make a deposit to your bank you can document that you are assigning the task to a particular employee and then record that the bank deposit slip has been received, noting any discrepancies. Being able to audit your cash with a running tally of what is in the safe gives Revel customers yet another point of insight into your business.
Getting a true picture of what’s happening with cash flow in your establishment from the Management Console anytime is a huge time saver. At Revel, we’re committed to delivering the features that your business demands. Stay tuned for further improvements to your system with each new version.