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Cash Control At Your Facility

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  • Cash Control At Your Facility

    Just came across a story where a Uhaul storage facility was robbed of about $5000 from their cash register.

    https://www.wmur.com/article/thousan...ister/28988661

    It got me thinking about cash control at my facilities, I can't think of a time I have had that much at once in our register. We have a safe with a drop on top for our employees to drop money in. But we don't give them the combination to the safe. We haven't separate smaller safe for change.

    We would never allow that much in there at once. What do you guys have as a limit before you take additional protective measures?

    Have you ever had $5000 at once in your register? (This doesn't include auction day when you have a lot of cash coming at once)
    22
    Yes
    13.64%
    3
    No
    86.36%
    19

  • #2
    Yup, have had numerous sites where that happens. Some area's are more cash heavy customer bases. Or they don't do bank runs every day. I was sent cross country to get some help to some sites in FL years ago. First thing I did was ask what can I do to help out the staff, they asked me to do a bank run as they havn't had time in 6 days. No safes, just bag in a drawer and it was over $21k in cash. That was a fun bank run in a area with lots of homeless and my first time there.

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    • #3
      Wow that is crazy no safe at all? We used to play things a lot closer to the vest, but a new safe is one of the first things we bought when we started hiring people outside our family.

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      • #4
        When I started, there were issues with cash going missing so we now have a "No Cash" policy. The only thing I have to deposit every day are checks or money orders. It can be a little bit of a pain but all customers know about it when they sign up

        Matt

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        • #5
          Anytime I have more than a $250.00 deposit, I take it to the bank the next day. Corporate pays my mileage to go during business hours too. Having so much cash is a huge liability! Even on days we have a few hundred in the drawer, we put it in the safe.

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          • #6
            I have a $50 cash drawer and as much as $250 in petty cash. Even though I carry I would let that money go at any time. No reason for anyone to get hurt over as much as $300. In the neighborhood I am in I don't worry. Most transactions here are c/c and a few checks.
            "Never let the inmates run the asylum!"

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            • #7
              We rarely have more than $100 in cash. During the end of the month/beginning of the next month when rent is paid, we will do bank deposits at lunch or after work on the way home, and leave less than $100 in cash for the next day change. Have never had an issue not being able to make change. No safes, just a bank bag, owner operated. When/if we get a manager or employee, we will likely make a couple changes. Any cash payment must sign a receipt.

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              • #8
                I very rarely get cash payments-maybe at most $500 during one day and I go, or my maintenance goes to the bank every day. I don't even put the cash drawer out most days, that's how rare a cash payment is for me.
                When I had all of my ducks in a row-I realized that most of them were not even mine!

                WA State

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                • #9
                  Originally posted by KrisinNC View Post
                  I very rarely get cash payments-maybe at most $500 during one day and I go, or my maintenance goes to the bank every day. I don't even put the cash drawer out most days, that's how rare a cash payment is for me.
                  Same here. I have 3- maybe 4 customers who pay in cash every month. Most of ours are auto payment.. Maybe 10% come in to the store to pay, and another 20% mail in a check. Another 20% will call in their payment over the phone with a card we have on file for them to use.
                  I keep the cash drawer and the safe locked up now all the time because of an incident of employee theft. It was a new employee we hired for maintenance who like to "hang out" in the office, and we had him on camera taking the money. Hello! They knew our camera systems recorded, and yet they were dumb enough to think we wouldn't play it back to see if someone accessed the cash drawer in the event of the shortage? Why anyone would risk their job for $10 is beyond me! But HR brought down the hammer and they are long gone, and we have had no issues since then.
                  I do not like keeping anything more than the cash register amount in the drawer, I'll regularly pull anything extra and put it in the safe until it goes to the bank next day.
                  You Laugh, I laugh. You cry, I cry. You take my coffee...may God have mercy on your soul....

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                  • #10
                    We do daily deposits, unless for some crazy reason we aren't able to get to the bank. We keep very little cash in the office for giving change, and a small amount of petty cash for post office needs or the rare time we need something. All our supplies are ordered in advance, we keep an eye on the inventory so we never (knock on wood) run out of thing unexpectedly.
                    AmyLou

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                    • #11
                      We also keep $100 in our drawer, that goes into the safe after closing and some money in safe for petty cash and change. We haven't had an issue with employee theft and we keep logs of everything! Most tenants pay with check or card though. AmyLou I'm the same way, I try to go everyday except Saturdays and Sundays and I submit my supply orders to the GM so I rarely have to buy supplies.

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                      • #12
                        I would never have that much cash here.
                        I just counted and have $59.00 in bills and about 5 bucks in coins. If someone wants it that bad go for it. I do carry and unless my life was threatened I would just hand it over if caught off guard. If they are a BGWG then mine may come out. That will always be a last resort.

                        If at a C store and something going down, I am not a cop and will not take it out of holster unless Myself or Family is being threatened.
                        Joe Krezdorn
                        DAK Self Storage
                        Leesport, PA 19533
                        www.dakselfstorage.com

                        Comment


                        • #13
                          Originally posted by dakselfstorage View Post
                          I would never have that much cash here.
                          I just counted and have $59.00 in bills and about 5 bucks in coins. If someone wants it that bad go for it. I do carry and unless my life was threatened I would just hand it over if caught off guard. If they are a BGWG then mine may come out. That will always be a last resort.

                          If at a C store and something going down, I am not a cop and will not take it out of holster unless Myself or Family is being threatened.
                          AS it should be. I never itch to pull my carry. It is a very last resort. Police get paid to be aggressive if needed, I don't. God Bless them.
                          "Never let the inmates run the asylum!"

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                          • #14
                            A lot of our payments, especially at the first of the month, are cash payments but not normally throughout the month. I will keep about $100 in the drawer and some in the bank bag for more change. Anything over that I make a note of, lock the front door, and walk through the connecting door into our apartment, and put it on the entertainment center. That way if someone does come in to take the $ they don't get that much, they can have it. I am not going to lose my life for some money. My husband goes to the bank daily unless it is a weekend or a holiday and the end of the day bank bag is kept in the apartment with us.
                            The future depends on what you do in the present.

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                            • #15
                              You guys are doing it right.

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