https://padlet.com/pmiho1_1/hkms5kosk9sh What can businesses do to protect their cash? en-us 2018-05-21 21:20:57 UTC 2023-02-27 17:37:02 UTC hello@padlet.com https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533416374 A business will get charged interest if they overdraw their account which would cost them more money.]]> 2021-05-17 23:21:43 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533416374 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533416714 It’s important to control the cash in a business as the business relies on the cash to keep making money. Businesses run by making money (by selling their stock) to buy more inventories to sell.

Using a general journal, creating individual password systems for employees when using the till, bank their cash daily, etc.]]> 2021-05-17 23:21:56 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533416714 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533416912 The implications could result into the business going bankrupt]]> 2021-05-17 23:22:03 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533416912 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417076 If the business has no money then they can't buy any stock or equipment and will go bankrupt.

The money is counted routinely to make sure none goes missing or gets stolen. There are also always records of receipts to show that they are receiving the correct amount of money and to keep track of whop they owe and who owes them.]]> 2021-05-17 23:22:10 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417076 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417278 they need cash to be able to run the business and make revenue from inventories 

have the cash counted by more than one person ]]> 2021-05-17 23:22:17 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417278 pwool13 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417295 some reasons why cash management is important for a business is to

- prevents theft
- make better decisions 
- understand where money is being spent
- ensure there’s money left for existing expenses and liabilities when theyre due

some ways to ensure that cash is safe 

- prevent using cash, instead use debit or credit or any card related transactions 
- leave cash drawers empty so there aren’t any overnight break-ins

]]> 2021-05-17 23:22:18 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417295 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417353 So no money is taken away from the business

]]> 2021-05-17 23:22:21 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417353 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417371 If businesses don't have cash they won't be able to buy inventories that are used to make sales.]]> 2021-05-17 23:22:22 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417371 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417377 - The business can't grow if they don't have enough cash
- 

]]> 2021-05-17 23:22:22 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417377 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417411 - If a business has no money they can go bankrupt 
- If a business don’t secure their cash, people can steal the business’ money 
- Cash controls - safe

]]> 2021-05-17 23:22:24 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417411 ifole4 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417583 — prevents theft
— ensures the correct amount of money has been received by the customer. (accurate information)
— monitors employee behaviour
— always losing money from the till...

— security measures (a lock on the till)
— business could decide not to accept cash, so that they do not have to be concerned about accurate totals
— strict rules about the behaviours of employees around the till (also can include ensuring the correct amount is given by the customer, and well as the correct amount of change)

]]> 2021-05-17 23:22:28 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417583 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417684 - prevent bankruptcy
- prevent robbery
Need better sercurity measurements
You can make sure to count the cash daily. ]]> 2021-05-17 23:22:32 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417684 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417753 This is Important so the business doesn’t go bankrupt



]]> 2021-05-17 23:22:35 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533417753 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418205 - So that the business makes money and doesn’t go under
- So that the government doesn’t do stuff with your taxing

]]> 2021-05-17 23:22:53 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418205 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418282 - if the business doesnt have cash flow they can afford to pay wages, buy inventories or pay rent. 
- so no one steals them ]]> 2021-05-17 23:22:56 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418282 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418331 It is important to protect the cash flow of the business to make sure the business does not go bankrupt. ]]> 2021-05-17 23:22:57 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418331 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418336 So you dont have some dodgy employees stealing from you.]]> 2021-05-17 23:22:58 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418336 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418503 Outside factors, employees customers and other may tamper or steal the cash. Keeping account of cash flow will mean that the business will be able to ensure accountability.

Keeping track of the cash, Multiple people keeping account of cash coming in and out and any more not accounted for will be looked into further.

Source documents are the main way cash is kept in document form, cheques require multiple signatures and most source documents require a high up inside a business to sign it. This is to make sure that people cannot purchase or give money for reasons not aligned towards the business.]]> 2021-05-17 23:23:05 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418503 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418707 So that the business can have some spare cash and wouldn’t go bankrupt.]]> 2021-05-17 23:23:13 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418707 lhabt1 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418840 If the business don’t have a good cash control the business can get bankrupt ]]> 2021-05-17 23:23:17 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533418840 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533419023 theft]]> 2021-05-17 23:23:26 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533419023 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533419354
it is important to control the cash flow ...

 so the business does not go bankrupt

so you know how much money the business has

so you know how much money you have to buy assets/inventories or pay for expenses and liabilities

to make sure no money is stolen & all money is protected

to ensure the business has the correct amount of money


]]> 2021-05-17 23:23:38 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533419354 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533421641 Businesses can secure their cash by placing them in banks to prevent theft


]]> 2021-05-17 23:25:03 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533421641 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533423068 2021-05-17 23:25:53 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533423068 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533423167 So that an employee doesn’t steal money]]> 2021-05-17 23:25:57 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533423167 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533423272 cash can be secured by monitoring cash on hand daily]]> 2021-05-17 23:26:00 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533423272 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533423720 Companies establish systems to minimise the risk of theft, robbery and fraud.]]> 2021-05-17 23:26:16 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533423720 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533426738 The business do their transactions electronically and do not take cash]]> 2021-05-17 23:28:09 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533426738 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533427172 ʇunoɔɔɐ ʞuɐq s,ssəuısnq əɥʇ oʇuı ʇı ʇısodəp]]> 2021-05-17 23:28:26 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533427172 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533429038 2021-05-17 23:29:32 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533429038 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533429580 Money is locked in a safe and security cameras guard it]]> 2021-05-17 23:29:52 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533429580 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533431908 2021-05-17 23:31:15 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533431908 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533433277 2021-05-17 23:32:08 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533433277 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533434014 2021-05-17 23:32:37 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533434014 https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533436315 2021-05-17 23:34:02 UTC https://padlet.com/pmiho1_1/hkms5kosk9sh/wish/1533436315