Reducing Employee Dishonesty: Cash and Check Handling

Cash and Check HandlingEmployee dishonesty is a serious risk for distributors and retailers. You can help control and manage the insurance risks associated with employee dishonesty by implementing these tips: 

Cash and Check Handling

• Closely monitor early or late hours and overtime in departments where cash and checks are handled

• Require that all check-writing disbursements receive two signatures. Under no circumstances should one employee issue checks under his or her signature only. Separating these responsibilities reduces the opportunity for embezzlement.

• Use checks or credit cards as a basis for payment rather than cash

• Do not assign responsibility for check writing and statement reconciliation to one person

• Record all incoming cash and checks on a received ledger. Promptly stamp checks “For Deposit Only.”

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