Four Ways of Safeguarding Cash
When you start your business you also start to gather assets. You must work
out procedures to safeguard these assets.
You have money
in the bank, stock of goods
for sale, an office computer, chairs and other
things you have bought.
If you are alone in the company it is fairly easy to safeguard your assets.
When getting staff, customers and others entering your company your assets can
The accounting system together with four different internal control procedures
help you safeguard your assets:
- Delegated authority and separation of duties
- check written records with reality
- Cash control
- Physical control
Wonder what your customer really wants? Ask. Don’t tell.
– Lisa Stone, BlogHer Co-Founder