With the holidays upon us, it is time to prepare for an influx of customers and the possibility of being defrauded at any point. These five tips will help you maintain a successful business during the holidays.
1. Identify Fake Bills
The two obvious ways to detect large fake bills ($5, $10, $20, $50, and $100) is to hold the bill up to the light. Within the inner layers of the bill, you will find an image of the president’s face and a strip that says the bill amount. Fake bills will not have this detail within, and there will be a lack of clarity when looking at the details. The image of the president’s face is particularly intricate and dark. The Federal Reserve and Treasury Seals should be clear and distinct. The border of the bill is sharp, vivid, and the lines are never blurred. The serial number is always spaced evenly and is always same color as the Federal Reserve and Treasury Seal. Also, get a counterfeit detector pen and have accessible at all times. If the mark remains a yellow color, the bill is fake. If it turns dark brown, the bill is real and you can continue your transaction.
2. Give Receipts for Money Coming In
Though receipts are not “green”, requiring employees to give receipts to customers is important for the owner to accurately track sales. By encouraging customers to expect receipts the cashier is required to enter the sale into the system, thus, the transaction is recorded within the point of sale.
3. Get Receipts for Money Going Out
Again, receipts. If there is money coming out of your store’s pocket for any reason, it should be recorded on a receipt and given to the store owner for their records. All change should be collected as well.
4. Pop the Cash Drawer
Theoretically you could use any old shoe box to keep your store’s cash throughout the day, however, by popping a cash drawer there is an additional security factor. ShopKeep designed the register to pop the cash drawer upon the completion of a transaction to limit the amount of time that the cash is not secure, and thus a shorten the amount of time for a possible theft to occur. The only way a cash drawer is opened is upon a manager’s authorization. At the end of the day, the cash drawer must match the amount that the shift close implies.
5. The Short Change Scam
Recently there has been a “short change scam” all over New York City. Someone approaches the counter to make a small purchase with a large bill. Using a confusion tactic, the cashier gets tricked into giving the customer more change than is due. Encourage your employees to count change twice before giving it to the customer.