This week I’m going take a look at everyday management of the typical newsagency business – to open discussion among people here about what they do in the area of I cover and to help others to look at their own processes.
Today, I am starting with the end of shift.
The end of shift is vital for tracking cash meeting XchangeIT data compliance and being disciplined in how you run your business. I’m not talking here about closing up for the date. No, this discussion is about the balancing of the register(s) and managing your record keeping.
Every newsagent needs a structured end of shift process. Maybe I am biased but the approach I recommend is that you do the end of shift in your newsagency software.
In my own businesses it is structured yet simple. We count back the float in each cash drawer, pool the cash, count the denominations, enter that into the software and the software then reveals whether we have balanced. depending on the difference determines what happens next. If we are less than $5.00 we move on. If we’re out by more, we have to find it.
Once we have balanced the cash, the software does the rest – checking data, printing banking sheets, handling the XchangeIT sales data send and comparing the day’s trading with the recent average for that day of the week as well as performing other checks such as fast sellers and letting me low y text message and email the trading results for the day.
All this is done behind the scenes. It keeps the process for the staff simple – get the cash right and the rest is taken care of for you.
I don’t write up any books or journals. I don’t enter any data into a spreadsheet.
The end of shift is taped so I can check that if I want at any time.
From closing he door to having the cash bagged with the end of shift reports ready for the safe usually takes between five and ten minutes depending on the day of the week and whether there is any cash discrepancy.
Join the conversation.