Control Cash With Exception Reporting
Much is being written about internal theft in these trying times. It’s hard enough scrapping out a living without sharing with your silent partners, your employees. Exception reporting is the magic key to stopping a majority of this shrinkage. How many retailers look at an exception report daily? My guess is probably very few. You need to know everything that goes through your Point of Sale Software that is outside the normal, full priced transaction. When I look at this report, I would like to see which clerks are discounting, marking down, backing out of transactions, trying to void or anything outside of a normal full retail sale. If an employee shows up on the exception report many times, this will tell me that I ether have a poorly trained employee or they are attempting to manipulate the software. Looking at the exception report will give you the ability to isolate a problem in a day, rather than finding the problem a month down the road and thousands of lost dollars. Every day you should look at a sales summary report, an operations summary report, exception report and a stock evaluation report. If you don’t look out for your inventory and cash, your silent partner probably will.