Controlling cash receipts is a tedious yet imperative task for any
restaurant. Using pre-numbered sequence codes is a good fraud
prevention measure and cash flow tracker for restaurant managers
and owners. The guest checks will be reconciled against sales at the
end of the day (WebstaurantStore). a When a mistake is made on a
guest check, it is voided and turned in with the other checks at the
end of the employees shift. This is an internal control that ensures
that every check is accounted for. a Certainly, there are other benefits
like tracking inventory, for example. “According to the Association of
Certified Fraud Examiners’ (ACFE) “2002 Report to the Nation on
Occupational Fraud and Abuse,” the per-employee losses from fraud
in the smallest businesses are 100 times the amount of their largest
counterparts” (Wells, 2003).
Even though having pre-numbered guest checks is a long-standing,
cost effective method for businesses to control cash receipts there
are other options out there that are possibly less risky. a Implementing
an electronic guest check system or POS system would be beneficial
to a small business. a It would make it easy for management to check
voids and check for trends that could possibly mean food theft or
cash theft. a “Employees make take advantage of fewer employees
being on shift in the early mornings and late nights to fraudulently
void transactions. a Time stamps will distinguish what voids take place
during open restaurant hours, and which do not” (Wells, 2003). a An
electronic system would help track inventory and omit any
mathematical errors from calculating guest checks by hand. a Even
though implementing a POS system would be an upfront expense, the
long-term benefits would outweigh the cost.
References:
DeFlaminio, S. (2019, July 12). 8 types of restaurant fraud and how to
prevent them. Restaurant Insider. Retrieved December 1, 2022, from
https://upserve.com/restaurant-insider/types-of-fraud/
Types of guest checks. WebstaurantStore. (n.d.). Retrieved December
1, 2022, from https://www.webstaurantstore.com/guide/571/types-
of-guest-
checks.html#:~:text=These%20are%20good%20for%20a%20variety
%20of%20reasons%3A,to%20pull%20it%20from%20the%20menu.%
20More%20items
Wells, J. T. (2003, March 1). Protect small business. Journal of
Accountancy. Retrieved December 1, 2022, from
https://www.journalofaccountancy.com/issues/2003/mar/protects
mallbusiness.html
