Treasury Management - Handling Cash

Question 1

Tell me about Cash, cost of handling

Answer 1

 Ordering cash either from an armored car or directly from the bank
 Depositing cash
• Preparing deposits and accounting for them
• Sending through an armored company or going to the bank
• Issue with value date if using the night deposit option
 Storing cash in a safe location within the premises
 For an average retailer having five cashiers, employees spend 15 hours per day managing cash.
 Cost of errors
Security procedures have to be implemented
 The average bank note is touched a minimum of five times within your store before it is deposited.
 Most often, two employees are required to count all money exchanges in store throughout the day.

Question 2

Tell me about Cash, smart safes

Answer 2

In addition to the security aspect of a cash safe the
“smart safe” has these additional features:
• Daily electronic transfer of the balance amount from the safe to the financial institution. This amount is used to credits the company’s bank account
• Real time information: the company knows at all time
how much is in the safe as well as the composition
(notes and coins)
 The safe can supply the amount of money needed (of
course if it is available)
 The safe calculates automatically the amount of the deposit per cashier
 It produces reports based on various criterias
 The safe reduces theft
 The safe saves time, often many hours/day