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Run the Store

Run the Store. Understand the basics of handling cash, maintaining the store, and establishing policies and procedures . Handling Cash. The Cash Register Till – another name for the cash drawer of a cash register where the money is placed

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Run the Store

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  1. Run the Store Understand the basics of handling cash, maintaining the store, and establishing policies and procedures

  2. Handling Cash • The Cash Register • Till – another name for the cash drawer of a cash register where the money is placed • The functions of the cash register is to provide receipts, record sales, and store cash and sales documents • One arrangement of a cash drawer used by businesses is to place the one-dollar bills in the far right compartment with the fives, tens, and twenties to the left. The coins are arranged similarly. • Electronic cash registers and point-of-sale (POS) terminals are two of the most common retail systems in use today. Cash registers provide an efficient way to enter data about a sale.

  3. Tips for Handling Cash • Close the drawer after each transaction • Maintain an organized drawer • Follow proper change-making techniques • Refuse to be rushed • Make sure you do not give a customer two bills stuck together • Count cash as many times as necessary to ensure accuracy • Do not keep excessive amounts of cash in the drawer

  4. Making Change – one of the oldest methods of making change is called the count-forward method. Steps in this method are • Announce the amount of the sale clearly to the customer • Take the customer’s money and announce the amount tendered • Place the cash tendered on the register plate • Remove the change due from the cash drawer, counting forward to yourself, using the smallest to largest coins first, then bills • Repeat the sale to the customer • Count change back correctly to the customer • Wait for the customer’s acknowledgment, and then place the tendered money into the cash drawer • If the cashier thinks there has been an error in counting back the change, he/she should take the change back and start over

  5. Checks -- six different types can be used • Personal checks • Business checks • Payroll checks • Treasury checks • Money orders • Traveler’s checks

  6. Credit – can include • Credit cards • Signature charge – an in-house credit extended to customers you know and trust • Debit cards

  7. Cash Drawer Maintenance • Opening Cash Fund – An amount of money in the cash register that the cashier starts with each day. • Daily Cash Flow – an important factor is to watch your cash drawer closely to ensure you have enough coins and currency available to make change for your customers • Closing Procedures – the cashier must account for the day’s sales and the money in the cash drawer. The process is called reconciling or balancing the till or drawer.

  8. Store Maintenance Tips • A business’s goal should be to maintain a clean, friendly environment that customers will want to return to for their purchases.

  9. Operating Policies and Procedures • Policies – general statements of intent about how to run your business. • Procedures – the processes or steps used for carrying out the policies.

  10. Developing Policies • 1. Review your operational process • 2. Check the competition • 3. Ask customers for feedback • 4. Develop policy statements

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