When a business owner is not always around their small business things may start to disappear. It happens slowly at first then if it goes unnoticed or disregarded the losses start to accelerate. The cash reister may be a little short or cash has been taken out for questionable expenses. But it seems that your customer level is about the same but cash receipts are lower by 5 to 10 percent. How can this be?
If you don't put a stop to little amounts right away they start to get out of hand before you know what happened. don't overlook small discrepencies in daily receipts that are happening several times a week, it's probably not a coincidence and should be investigated. If you're not even checking your daily receipts and cash to see if it balances out, you need to find a way to do it soon. Don't let there be any room for dishonesty in your business.
More on Owner Neglect in chapter 7 of my book "When the Shit Hits the Fan" available at amazon.co, B&N and signed copies at 877-700-1322
Sunday, December 19, 2010
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