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Cash Register Shortage Control – Is Mandatory Payback Effective?

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The high school senior was so excited about her upcoming school dance. Her dress was exquisite, and her shoes and purse matched perfectly. She was saving money from her job at the local fast food restaurant to pay for all she needed to make the event so special. There were flowers to choose, a limo for her and her date and a few friends, pictures, and a whole lot of extras that would make the evening a long lasting memory. She had all her future earnings planned out for the next few weeks and earmarked for the special occasion. What she had not planned for was the inexplicable shortage of $20 on her cash till at work. The restaurant had a policy that all cash shortages had to be paid back. “Oh no!” she thought. “I didn’t steal any money; what am I going to do? I need every penny I earn to pay for the dance.”

Mandatory Payback Policy

When consulting with retailers and restaurant owners, the conversation will generally turn to cash shortages. A few have boasted they simply did not have cash shortages because of the policy they put in place. The policy required cashiers to pay back shortages in their tills. They further stated that shortages may occur once or twice, but after paying for the shortages, a cashier was not often short again. The shortages required no investigation, no investment of a manager’s valuable time, no disciplinary action, and no complicated cash handling policies.

Policy Repercussions

So having investigated many, many cash shortages and implemented effective cash control programs for retailers and restaurants, paying back cash shortages is not part of the equation unless of course a thorough investigation was conducted, the cashier admitted to cash thefts and restitution was part of the resolution. Docking pay or having an employee pay the employer for cash shortages could result in the employee making less than minimum wage and jeopardize the employer of violating wage and hour laws.

Unintended Consequences

Making cashiers pay back shortages may also have an opposite effect of its intention. Suppose that the young cashier is making preparations to go to the special dance, as in the scenario above. She needs money for her gown, matching shoes, tickets, hair and make-up, and perhaps sharing the cost of a limo. It’s all a great expense for the young lady, but she is budgeting carefully and every dollar she earns is allotted as she prepares for her special event. She is a very good cashier and even better employee. But, alas, her cash drawer comes up short. She didn’t steal any cash from the till. A mistake in counting back change or mishandling currency may have been the problem. Perhaps there are other possible explanations. Maybe there was a mistake by a manager removing excess cash from her cash register. Maybe another cashier rang transactions on her register while she was on break and mishandled the cash – or stole it.

According to the rules, our cashier has to pay back the shortage. She panics because she envisions her perfect evening will be ruined. She can’t afford to pay back the shortage. Could she ask for permission to not pay back the shortage? Sure. Could she ask someone to loan her the money? Yes. But, she is desperate. She decides to get the money back by methods she knew other cashiers were doing. They had been ringing fraudulent transactions and stealing money for longer than she had worked there and not one manager ever questioned them about it. They had bragged often about their “extra” money. She had always been disgusted with their cavalier attitude about stealing. She makes her decision. She would only take the amounts needed to make her dance special, – and then pay it back.

She rings fictitious employee meals, voids, refunds and price reductions and pockets the cash. She’s stealing! It was so easy that she continues to take money far exceeding the amounts she had intended to pay back. The manager can quickly spot register shortages, but neglected the other parts of cash management. The thefts continue long past her dance and her cash drawer is never short – and she never pays it back. She crossed the line, and is now a thief. If caught she could be arrested.

Cash Management

This story is true, and has occurred at many retail stores and restaurants. A sound cash management program does not require cash shortages to be reimbursed. The incidences of cash shortage should be recorded in the performance history of the cashier. Cash management programs should include investigations of significant cash variances and implementation of progressive disciplines for each incident that require retraining when needed. Acceptable tolerance levels should be established for each component of customer transactions such as voids, refunds, price reductions, and no sales. Performance in these areas should be monitored and disciplines established for poor performance. Each time an exception occurs outside the acceptable level of performance in handling cash transactions the discipline is stronger. For example, the first time a cashier is short more than $3, a written warning is reviewed with the cashier. The warning includes heavier repercussions with subsequent violations that may lead to suspension and possibly termination. The concept is called progressive discipline. The warning puts the employee on notice that their performance is being monitored, that proper cash handling is important, and establishes documentation of poor performance. The idea is to change behavior.

Effective loss control programs contain these elements of cash management. They are fair and equitable, establish the “ground rules” for performance in cash handling, and provide accountability to those employees who may be stealing by manipulating transactions. Requiring the payback of cash shortages as the foundation of a cash management program does not adequately address poor performance in cash handling. It may even the cash tills, but does little to address exploiting the lack of cash controls.

By D. B. “Libby” Libhart, CPP

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Source by Libby Libhart

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iPhone Application Development – Earn Money Through iPhone App Store

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The Internet Revolution! I’m sure you read and heard a lot about it and so I won’t list the myriad ways in which it has changed everything. Professionals capable of working independently and creatively have benefited the most from the ubiquity of the internet.

There are so many ways I which you can showcase your talent to the world (or hawk your wares): you can write a novella, self-publish it over Amazon, and if people like it, you will mint money; you can post a funny video over YouTube (or start you own ‘Channel’), and using nothing more than your skills and ingenuity, find fame and fortune; or you can use your iPhone application development skills, sell your app(s) in the Apple App Store, and buy that yacht you’d always wanted!

Over 2 billion apps are downloaded from the iPhone App Store every year, and as the sales of iPhones continues to rise and more people start using iPhone, the demand for iPhone apps will increase. iPhone apps are constantly making the news and they are one of the prime reasons for the success of iPhones. Experts predicts that 3G smartphones which offer all the facilities of internet will replace PCs and laptops, and apps are the things that make it easier for the users to use their smartphones in lieu of computers: the market for apps is huge, and it will only grow further over time.

Do you have creativity, talent and innovative ideas? There are school students out there who are making serious money developing iPhone apps and selling them using the iPhone app store. Do you think you have the app idea of the decade? You don’t necessarily have to have a scientific and technical mind to gain success at iPhone application development: all you need is an idea and the ability to transform it into reality.

The best thing is that there are a number of free tutorials and SDKs available on the Internet; you can use download them for free and learn how to develop apps for iPhone apps. You might need t invest some time to study how to develop the best apps, and then how to market them over the net, but thereafter your creative ideas will take you far.

Even if you are not good at logic and math and programming is just not for you, you can still take help from professionals and pay iPhone developers to develop an app based on your idea. If your idea is really good, you could convince them to work for royalty from the sales of the app. And if your idea is really good and you are sure that the app based on your idea is going to sell like hot cakes, its best to pay the developer upfront and have complete control over all the profits on your iPhone app!

Once the app is ready, you just need to follow the simple guidelines on the iPhone app development store and list your app on the list of available apps. But there are millions of apps on the iPhone app store, and so you will need to do things to get publicity for your apps: get a website in the name of the app, try and make someone do a piece about in a magazine, keep your fingers crossed, and wait for the world to wake up to the proof of your genius!

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Source by Vatsal M

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What Can I Use Bitcoins For?

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Practically, almost any product or service that can be bought with dollars or other currencies can also be bought with bitcoins. On the other hand, the high volatility of bitcoins is a huge risk for some people that might want to use this cryptocurrency, but they are afraid about price differences. Even so, the characteristics of bitcoins make them perfect for internet payments:

1. Fast transactions

A bitcoin transaction is processed in 10-15 minutes. In case of a bank transfer, it might take hours or even days for the money to get from one account to the other. Some might say that PayPal or other ewallets are even faster. It is true, but there are other aspects that ewallets can’t give: privacy and smaller commissions.

2. Privacy

When you send bitcoins to a partner over the internet, the transaction will be registered in a blockchain. The list of transactions is public, and it can be verified on specialized websites. Only the identification number, the sum and the time are recorded. There is no way for somebody to find out from where the bitcoins come, and where they go. This is characteristic of bitcoins attracted many people. Well, some of those are interested about it because they can buy illegal goods with those, but the majority of bitcoin users are people that want to buy legal items and services, but which don’t want to disclose their identity. Porn and gambling websites might be immoral, but they are not illegal, so people that want to subscribe for those services can safely pay in bitcoins on the websites that accept this currency, knowing that their reputation will not be affected.

3. Smaller commissions

The average commission is 0.002 BTC for a transaction. It is significantly smaller compared with the PayPal or banking commissions. Moreover, you are not even obliged to pay it. By paying a commission, you “reserve” the computational power of a pool (or at least a part of it), to process your transaction faster. You even have the possibility not to pay the commission. In this case, you might need to wait two or even three days for your transaction to be processed. If you are not in a hurry, this might be the perfect opportunity to make money transactions with zero costs.

Of course, there are also disadvantages for using bitcoins, such as the possibility to lose them. If somebody steals your bitcoins, or if you delete the wallet files, it is impossible to recover those. As long as the bitcoin is not regulated, there is no central organism for arbitrage between divergent parts. In other words, you can’t complain if you lose or you are robbed by your bitcoins, simply because there is nobody to complain to.

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Source by Stanculescu Mihai Bogdan

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Things You Should Know About Bitcoin Black

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What is Bitcoin Black?

Bitcoin Black is basically the cryptocurrency of the people, by the people for the people. It will be adopted for use as a peer 2 peer payment system which gives the power back to the people.

If we talk about Bitcoin, Bitcoin has failed at this, real value comes from real use of the ecosystem and empowering people. Bitcoin transactions are slow and expensive, and it can be said that Bitcoin is somewhat centralized. Bitcoin takes power of people because it is heavily manipulated and through cycles that discourage participants from cryptocurrency in general.

People buy bitcoin to get rich, not to be involved in the ecosystem. The one percent elite takes advantage of bitcoin and creates discouragement, strategically increasing the price and attracting entry for the dream of wealth and dumping coins for their benefit. In fear of adoption. Bitcoin is completely controlled, pumped and manipulated at will, for many different reasons.

Bitcoin Black is focusing on solving these problems as the coin is a cryptocurrency with a fair distribution Airdropped to 1 Million wallets prior to IEO which all funds will go to community groups voted by the community to move the project forward with focus on fair distribution, mass adoption, usability, education, ease of access, simplicity and community.

The goal is to make it a real decentralized autonomous network giving back power to the people. He does not belong to a group, but belongs to many branches of the community.

Distribution of Coins

Bitcoin Black is aim to have airdrop to at least 1 million wallets initially with not more than 0.5% of supply owned by 1 founding member making it truly decentralized cryptocurrency.

The project have a pre-sale of 2.5% of total supply which is almost 900 Million coins.

If we take a take a look at the IEO, 7.2 billion IEO coins will be allocated to several community foundations that will help the community move the project forward in the future.

Counterpart funds for manipulation (around 5%). Part used for the stability control fund to eliminate the possibility of early manipulation at low volume and maintain currency stability.

Finally, the rewards for introducing the application will be 14.4 billion coins.

Introduction of 30 million members with an increase in the rate of new users. A method of bringing the coin into every schoolyard / university / workplace and community.

Total Supply

A maximum supply is 36 billion coins.

Rewards

3.6 billion coins to be claimed by members who help share Airdrop.

Simple social sharing platform in one click. Share a social message that provides an introduction to encrypted video and the app download link that will allow your friends to download it. Currently the platform is active and functioning well.

Innovation

The best innovation is the Fee free transactions. You can send bitcoin black to anyone free of charge. The transactions are Instant and you can send money as easily as sending an message.

The wallets are easily accessible and very simple to use.

Conclusion

Bitcoin black have a fair mass distributed currency with supply spread widely that it will create less volatility by synchronized pumps and dumps and lead to a more stable price. Bitcoin black is going to be the next bitcoin. You can register for the airdrop by clicking here. I wish someone back in 2008 would have included me on the Bitcoin airdrop. Bitcoin Black will be life changing and we want to tell this to as many as possible.

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Source by Mark West

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