Basic Cash Control Procedures to Follow
Bartenders may bring their own bottles of liquor into the establishment to use while creating cocktails for customers. Following payment, they pocket the proceeds by depositing cash in their tip jar. Alternatively, they might fill the register in order to subsequently skim cash, reporting an overage on their cash balance at the start of their shift.
Occasionally, consumers leave without paying their bill. Dishonest bartenders may use this situation in the expectation that you would believe them. After receiving payment from a consumer, they pocket the money and claim that the person walked out.
Juggling is the act of a bartender collecting cash from two or more clients concurrently. They then enter only half of the transaction but deposit the entire sum of money in the register. A bartender will collect the additional cash at the conclusion of their shift and deposit it in their own pocket.
Not only will the management be able to oversee the pour, but he or she will also be able to establish a rigorous standard for the bartenders to follow.
At all times, the liquor storage area and wine cellars should be locked, with keys supplied to only bar management. This safeguards inventory and makes it extremely difficult, if not impossible, for bartenders to steal whole bottles of booze.
Keep POS credentials hidden from bartenders to prevent them from seeing sales reports during their shift.
There are three steps involved in enlisting a mystery shopping service:
- Before the mystery shop, the management meets with the mystery shopper and goes through all of the procedures at the property so that the mystery shopper knows what to look for.
- Mystery shoppers go to a location pretending to be guests and observe how transactions are handled and whether or not policies are adhered to.
- As soon as feasible after the mystery shopper visits, the manager meets with the shopper to go through any issues or prospective issues that have been discovered.
- Taking the order
- Preparing and serving the drink
- Collect Ringing the sale on the POS system
- Transferring guest charges between the lounge and restaurant (if permitted)
- Accounting for appetizers in the lounge
Accounting fraud is inextricably linked to checkout theft. This more pervasive and subtle kind of stealing is more difficult to detect. If left unchecked, it can have a significant negative influence on your business.
It’s as simple as changing the tips on card transactions. Credit card tips are manually input into point-of-sale (POS) systems using credit card receipts. This makes it very easy for waiters to steal in little quantities over time, as a dollar or two goes unnoticed.
The wagon wheel is one of the most often utilized frauds in the food industry. This fraud is moving an item made by a waiter (such as a beverage or drink) across many checks and pocketing the change.
You should constantly be aware of which personnel own keys or have access to passwords. These are critical tasks, and you should hold your team accountable in the event of an incident. No single employee should be accountable for several security measures.
It has been demonstrated that a happy work atmosphere deters employee fraud and theft. Open lines of communication, employee appreciation, and equitable employment policies all contribute to employees feeling a sense of belonging to the organization.
Employees should be made aware that the company and its whole staff are protected by cameras (whether from outside or inside). Additionally, they serve as evidence for a trustworthy employee who is caught up in a dispute with a customer or a monetary issue.
- Exploiting server errors
- Leaving without paying the bill
- Property theft
- Passing meaningless checks
- Using forged credit cards
- Maintain a list of checks that are not appropriate for personal or corporate use.
- Take into consideration check approval services.
- Guests should be required to provide identity.
- Accept checks for the total amount of the bill alone.
- Refrain from accepting postdated or two-party checks.
- Examine checks for legibility, correctness, and tampering signs.
- Accept no checks that are stamped “For Deposit Only.”
- In the presence of designated employees, have guests sign checks.
- When accepting checks, make a note that they are “For Deposit Only.”
- Attempting to increase tips by padding bills
- Charging higher prices and pocketing the difference
- Altering payment card charge amounts
- Altering personal checks used for payment
- Making change incorrectly
- Proper operation of the POS system
- Guest check control
- Routine but random audits
- Close supervision
- Use of mystery shoppers
- Compliance with check and payment card procedures
After the food and beverage collections have been made, it is important to follow some basic cash control procedures in order to keep track of the money and ensure that it is properly accounted for. Here are some tips for post-collection cash control:
- Create a log or spreadsheet to track all collections. This should include the date, time, amount, and method of payment (cash, check, credit card).
- Deposits should be made on a daily basis, or at least as soon as possible.
- All cash should be counted and verified against the log before making a deposit.
- Checks should be endorsed with the date, amount, and payee.
- Credit card receipts should be verified for accuracy and signed by the customer.
- Any discrepancies should be investigated and resolved.
- A daily sales report should be generated, detailing all sales for the day. This can be used to compare against the log of collections to ensure that all money has been accounted for.
Tips to Keep Your Liquor Safe
As a result, the Banyan Tree Resorts business was able to capitalize on the need for exclusive and intimate lodging in two separate industries. Their collaboration with local merchants and presentation of original handcrafted products also had a significant role in drawing customers. Additionally, the brand positioning of the organization was an influence. The Banyan Tree has put itself in a position of prominence, which ensures its success at any costs. Third, Banyan has made a name for itself as a premier provider of luxury hotels and resorts.
In today’s fast-paced and demanding world, relevant and suitable brand positioning is essential. Banyan Tree was touted as the ideal spot for a romantic and intimate getaway. Many couples are focused on such timeless virtues as romance and sensitivity in today’s more hectic and demanding atmosphere, and this place is modern and appropriate. For today’s more hectic and demanding lifestyle, it’s modern and appropriate in terms of posture; many couples are busy at work and have little time to spend together. Banyan Tree was the first luxury resort in the world to provide all-day dining in its all-inclusive package when it launched. That which is concentrated and waste-free in its marketing efforts A large part of Banyan Tree’s communications approach was public relations and PR and direct marketing to rich customers via its website and sales offices, with little focus on ads. With its pro-environment business actions, such as supporting several environmental conservation programs and community outreach activities, the corporation has gained much favorable media and public attention.
Yes, I believe Banyan Tree will be able to hold on to its distinct identity in a congested marketplace. Because Banyan Tree is located in such a special place with conserved land and a beautiful atmosphere, I believe that tourists would prefer to stay at this resort over any other one of its like.
- Banyan Tree, six-star resorts targeted the higher end of the luxury market;
- Angsana is conventional, modern resorts and spa that targeting the wider market.
- Boutique hotels like Colors of Angsana cater to a softer side of adventure tourism, often in far-flung locales that lack the exclusivity afforded by Banyan Tree villas.
- Introduce current brands globally by developing new markets or expanding the brands and developing the products, Banyan Tree should take into consideration location and costs constraints.
- In order to maintain a high standard of service over a vast number of service locations, more service outlets are needed.
- It is important to consider that having multiple brands might result in less concentration on a certain brand(s), and concentrate on another, also having too many individual brands might confuse potential costumers
In the eyes of many, corporate social responsibility (CSR) may have a beneficial impact on a company’s brand equity. As a result, customers are more likely to stick with the brand, which in turn helps build a more positive perception of it. A product’s brand equity also refers to the marketing benefits or outcomes it receives compared to the same product without the brand name. Through vigorous mass marketing campaigns, brand equity is created. Some well-known examples of global brands include Nike and Coca-Cola; whose corporate emblems are instantly recognizable throughout the world. A company’s reputation is also seen as a valuable asset by many marketing experts.
The expense of doing business in the United States and Europe will be the primary concern for the corporation. The success of Banyan Tree is due to low labor costs and the hard effort and dedication of Asian workers. The company’s financial difficulties can be overcome, but it will be more difficult to reproduce the success they had in Asia since they were already familiar with what a “genuine” experience would look and feel like. In order to avoid diluting the brand, it is vital to open as many resorts as possible, although this is not the best method. Banyan Tree and Angsana brand promises must be the company’s only emphasis. In addition, the company must find the right people to run its hotels and resorts in the United States and Europe, where the culture is very different from that of Asia. It is critical that the company maintains its course while also making adjustments to its products to meet the needs of the local population.
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