Bank Run SOP

Procedure#:HB SOP 83

Function:Management Policies

Implementation Date:022122

Policy: Hillman Beer wants to ensure that we have timely deposits to the bank so that we always stay in good standing with our cash flow, ensure that we have the proper change for our guests, and stay as safe as possible when taking money out of the building and to the bank. To achieve these objectives, Hillman Beer will adhere to strict cash handling standard operating procedures that outline the steps for secure money management. These procedures will cover the responsibilities of staff during cash transactions and the process for reconciling daily sales with bank deposits. By implementing these measures, we aim to mitigate risks associated with cash handling and enhance the overall financial health of our business.

Procedure:

1. Plan on doing bank runs twice a week
   1. One on Monday or Tuesday to ensure the weekend deposits have been done.
   2. One on Thursday or Friday to ensure that we have enough change to get us through the weekend.
      1. Each safe should have the recommended change needed to get through the busiest weekends.

1. Deposits should be made in a timely fashion such that there are never more than 4 deposits in the safe at any one time
   1. Holidays can cause banks closures so it is important to know what the holidays are and when banks are close
      1. New Years Day
      2. Martin Luther King Day
      3. President’s Day
      4. Memorial Day
      5. Juneteenth
      6. Independence Day
      7. Columbus Day
      8. Veterans Day
      9. Thanksgiving
      10. Christmas
   2. Make sure deposit slips dates are made for the day of transaction/service not the day counted.
   3. Ensure all bills are in order and facing the same way.
   4. Please make change out of deposits (i.e. ones and fives are switched out).

1. When taking deposits to the bank the following should be done:
   1. All deposit amounts have been double counted and verified.
   2. All change orders have been double counted and verified.
   3. Deposits/ Deposit bags should be concealed so no one knows you are going to the bank.
      1. Only other managers or Service Leaders should know you are heading to the bank and that information should never be shared with anyone.
   4. Deposits should be immediately taken to the bank, not stopping in between.  Deposits should never be taken home to be deposited the next day.  If you cannot make a deposit that day, deposits should stay in the safe until the next day.

1. Deposits should be taken to the bank at varying times to ensure someone does not pick up on habits and figure out the exact day and time you leave the building with money.

1. Deposit receipts should be stapled to the pink carbon copy in the Deposit slip pack.  If there is a discrepancy in the deposit to the deposit receipt or carbon copy the Operations Manager and COO must be notified immediately.