How do you do your cash banking?

[redlottie13]

Hey all, so silly question but where do you keep your cash.

I have thought about having a safe installed but they are pricy.
At the moment I cash up every evening and leave the money at home til Monday then cash everything on my day off.

But all of these are risky. I don't live close or work close to my bank it's about 15 mins out of town.

I'm with Barclays so don't have a drop service (which would be amazing)

I'm trying to think of a methodical way of doing it. In my old salon I used to do the banking every morning ...but we were a large salon and could afford me going off for the first 30 minutes of the day as there was always cover x

Any advise welcome (please feel free to keep it brief as I understand this is sensitive information )

 

[inspia]

Is it poss to use the post office, we do that with ours?

 

[redlottie13]

Is it poss to use the post office, we do that with ours?

Even further I'm afraid [emoji849]

 

[inspia]

Ah ok

 

[TheDuchess]

I actively discourage cash. I tell all my clients that I can't be bothered to go all the way to the bank and get rained on and as we're all dyslexic we'll get into a muddle with change.

I don't have time for all the heartache and suspicion when the till doesn't balance. I've known therapists leave jobs over unjust accusations of £20 theft. It also works out very expensive to daily bank in time spent plus you're a soft target for crime whether it's walk in hold-ups, con men (and ladies!) or misadventure on the banking journey. Cash is also difficult to track and trace - HMRC like going after small businesses and trying to catch them fiddling the books, you can prove your takings if everything goes into your bank account..

So I pretty much never do any banking, we get the odd cash payment for brow shaping and I spend that on milk, coffee and cleaning stuff.

It's much easier to upsell if you take cards. Just a thought.

 

[Minkeybox]

Shame uour further from the post office, thats what I use too xx

 

[FrancesMarie]

Hi
I also think its very high risk taking excessive amounts of cash, its much safer to process card payments within the salon. Speak to your bank about this and consider using Salon Software that will cash up at the end of the day including cash or card payments. Our Slick salon software will also take online bookings for free, we offer free support, appointment diary, customised layouts and we are the only software recommended by Loreal, and its free for the first two stylist/therapists. Drop me an email with your number and I can talk you through it.
thanks Fran

[edited to remove clicky link]

 

[redlottie13]

Hi
I also think its very high risk taking excessive amounts of cash, its much safer to process card payments within the salon. Speak to your bank about this and consider using Salon Software that will cash up at the end of the day including cash or card payments. Our Slick salon software will also take online bookings for free, we offer free support, appointment diary, customised layouts and we are the only software recommended by Loreal, and its free for the first two stylist/therapists. Drop me an email with your number and I can talk you through it.

thanks Fran

I wasn't asking for a system.
I was asking salon owners how they physically take cash from the salon.

 

[CFBS]

What level of cash holding are we talking about per week? Hundreds or thousands?
Check your home insurance policy. Most cover a certain level of cash held at your house.

Apart from taking cards, you can get clients to pay directly into your bank account. This reduces cash held.

 

[redlottie13]

What level of cash holding are we talking about per week? Hundreds or thousands?
Check your home insurance policy. Most cover a certain level of cash held at your house.

Apart from taking cards, you can get clients to pay directly into your bank account. This reduces cash held.

Oh Just hundreds.....not quite at the thousands mark yet.

Oh ok I never knew this I'll check thank you [emoji3]

 

[TheDuchess]

Getting clients to pay you direct into your bank account works surprisingly well for us. Good suggestion CFBS. Try it, you might be surprised. We use it to get clients to pay us deposits. We get them to use their first name and the date of their treatment (if not the day they're paying) as a reference and we've always been able to match client deposit up.

Occasionally we'll get someone who's forgotten their purse, or our card machine will be having an off day. You'll be amazed how many people can bank on their phone. I'm really looking at my card machine overheads (I've got an amazing deal which I'm happy with) and I'm thinking "hmm" we could cut out the merchant services cost.. If you ever have a tight month, getting instant payments into your account could really make a difference close to pay day...

 

[redlottie13]

Getting clients to pay you direct into your bank account works surprisingly well for us. Good suggestion CFBS. Try it, you might be surprised. We use it to get clients to pay us deposits. We get them to use their first name and the date of their treatment (if not the day they're paying) as a reference and we've always been able to match client deposit up.

Occasionally we'll get someone who's forgotten their purse, or our card machine will be having an off day. You'll be amazed how many people can bank on their phone. I'm really looking at my card machine overheads (I've got an amazing deal which I'm happy with) and I'm thinking "hmm" we could cut out the merchant services cost.. If you ever have a tight month, getting instant payments into your account could really make a difference close to pay day...

Fantastic idea!

When do they pay deposits? at the time of booking?
How have you found the leg work that goes with it though, as I gather it's only one staff member that can check it? X

 

[TheDuchess]

We ask for the deposit in order to confirm the booking. We send out an email with our banking info giving our terms and conditions and we ask them to send us an email to confirm that they've paid. And we chase politely telling them that the booking space will be released if we haven't heard by x time - we give them 24 hours warning before we take the booking out - and we quickly check the banking before we cancel, just in case.

I don't find it too much hassle, I thought I would - we only started doing this because our card machine broke during the snow and we didn't get any courier deliveries for a few days so we had no alternative. I just log into our banking quickly. Takes 2 minutes.

I notice that I get a lot of emails confirming deposits paid in the evening - so we check first thing in the morning and that's done for the day. Although only I look at the banking, we work as a team to monitor deposits, so I get "reminded" to check...