Dealing with Petty Cash

Many front desk individuals are responsible for handling the petty cash and handling payments from the patients. This is something that you will have to discuss with the manager on the policy. It should be checked out in the morning and returned at the end of the day. If possible at least two people should verify the amount each time. Many offices will have a logbook for everyone that counts or handles the cash to initial and put the amount in the log. Anytime that you are handling money, it is a good idea to share the responsibility, in other words have one or two people that count the money and another person that verifies (usually a manager) and puts the money away. At the beginning of a shift, the manager would check the money and then those taking the money would verify the amount. A good example of a petty cash policy and how the cash is handled can be found at http://www.toolkit.com/small_business_guide/sbg.aspx?nid=P06_1428

Being responsible for someone else’s money is a huge responsibility. Many employees are tempted by handling cash and often do not see a problem in taking small amounts or “borrowing” the money until payday. The problem is that once you are tempted and give in to the temptation it is always easy to justify doing it repeatedly until you are caught or it has become a large amount that you could never pay back.

Why have morals, everybody cheats, tells a white lie or take a little something, right? Well maybe everyone is doing something dishonest in your practice, but that doesn’t mean you should. Not being moral can wear on you and affect other areas of your life. Most criminals did not start out thinking about the “big job”; they usually started out small and the moved on to bigger crimes. Even a little theft or a small white lie can have consequences. Small lies can lead to another lie, and another one, etc. Sometimes it is harder to tell you the truth, but being a person always has its rewards, even if it is just the satisfaction of knowing you did the right thing.

It may seem like taking a few items from work will not matter and they sure can afford it more than you can, but does that make it right? Theft adds up, a few items from everyone can reduce how much the company makes and eventually can lead to bigger problems. Why should you care, after all they make lots of money? You should care because if the company has a reduction in profits and an increase in loss, bonuses, pay raises, and even the company itself can be at risk. It may seem like something small, but what if it was yours? Would you like it? Treat others (including the company), as you would want them to treat you.

What if you know that the company is billing incorrectly or engaging in illegal activity? You should try approaching your supervisor with this issue. This can become very difficult if they are part of the problem. If you have a hotline for compliance issues, you should consider using it. You can refuse to engage in illegal activities and be a person of integrity or become part of the problem. If things are bad enough, you may have to consider changing practices. If you do, be sure to leave on good terms and give a notice. When you apply elsewhere, do not say it was due to illegal activities (unless it receives wide media coverage and is well known) since it could backfire on you. Who wants to hire someone who works at a place that had illegal activity? As a manager I would always wonder what bad habits you had picked up. Use your discretion in these circumstances.

Borrowing something, especially on a permanent basis, is never good. We have all learned from childhood not to take things that do not belong to us, yet it happens everyday in business. It is bad enough when employees steal from their own employer, but is unthinkable when they steal from their coworkers or boss.

Own up to your mistakes, we all make them. When dealing with cash or numbers, it mistakes can happen. Admit what happened as soon as possible and handle the problem. Hiding it will only make it worse and be harder to fix later on. The longer you wait to be truthful or be honest about something the bigger the problem it will become ( a molehill can turn into a mountain if not watched) it will become down the road, in addition you begin to lose track of what you’ve told certain people and what you haven’t, thus losing your credibility

Now maybe you personally have not taking anything, but have witnessed a friend or coworker in the act or you suspect they did. If you knew about it and did nothing, you are just as responsible as they are. If you or your friend just “borrowed” the item without asking, this should be considered stealing as well. Never take anything unless you have previously asked permission and that includes money!