Question

Robert Pescado is concerned about the control over cash receipts in his fish and chips restaurant, The Whale House. The restaurant has two cash registers. At no time do more than two employees take customer orders and ring up sales. Work shifts for employees range from 4 to 8 hours.

Pescado asks your help in installing a good system of internal control over Cash Receipts.

Answer 1

	Internal control best practices in Cash receipts;
	Internal control over cash is helps in business to prevent loss due to fraud and errors.
1	Separation of duties
	Divide the works between two or more employees. The person who collects cash should not perform reconciliation. It is also provides double-checking to avoid mistakes.
2	Access control.
	There should be safe and seccured access control system for the people who handles cash. Either a log-in procedures or a locking system.
3	Documentation
	Every transaction should be recorded and authorized in a proper way. Give unique number for each document. Both the parties shall signed the document for cash receipt.
4	Reconciliation
	The person who is responsible to perform reconciliation, shall do reconciliation in a regular basis . Any descrepancis shall report .