Questions for my pizza business

Discussion in 'Growing and Managing a Business' started by Steven, Feb 10, 2011.

  1. Steven

    Steven
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    Im still in the learning process and would like to know some things. Ok so my friend and I are starting this pizza business and wanted to know. After customers come in and pay for pizza throughout the day, who is the guy that collects the profits at the end of the day? Is it the manager or someone higher than the manager? Does the manager come in and literally count the money at the end of the day? How does that money get into a bank account? Also, how do I go about keeping the right amount of change in the cash register at all times for the customers?
     
  2. Fergal

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    Welcome to our Business Forum Steven.

    I'm not sure if you are asking about the person who physically takes the money and counts it etc, or if you are asking about who keeps the profits from the business. The business owner or owners will generally be the people who keep the profits made by the business. However, in some instances they will have profit share schemes in place to motivate their staff. This works by giving staff a certain percentage of the profits made by the business. Profit share schemes are a good motivational tool, because the more profitable the business is, the more the employees get paid from the profit share. Hence, the employees are motivated to help the business as much as they can.

    Different businesses will have different policies in this regard. However, the person who manages the business' cash will obviously need to be someone who is honest and who is trusted. In some businesses this person will be the manager and in others the business owner will do this important job themselves.

    The person who checks the cash will often lodge the money to the bank, this should be done regularly to ensure that there isn't too much cash held on the premises.

    If it's practical for you, it would be a good idea for you to deal with the daily cash yourself. Not only will this help with security and reduce the risk of theft, it will also help you to keep a good handle on how well or otherwise the business is doing on a day to day basis.

    When it comes to small amounts of currencies most business owners will keep more of this on the premises than they will need, to ensure that they never run out of change. Because the amounts are small the risk of theft generally isn't of huge significance.

    For larger currency denominations (e.g. twenty Euro notes in Europe) you will need to be more careful not to have too much on the premises. You will get a feel for how much cash you need to keep in the cash register to ensure that you never run out of change for customers. This amount becomes your float. At the end of every day, you will keep an amount equivalent to your float in the till (or in a safe until the next morning) and the excess cash will get lodged into your bank account.

    Good luck with it!
     
  3. mackey

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    Good luck to your business mate.

    You should have managers who checks your staff and the quality of their work or product (pizza)
    Of course, the best person who will collect the money is the owner. That's the safest thing to do.
     
  4. Charles-John

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    Well there is no written rule for this. It is only a matter of time. In a week you will learn how much change you should keep (and you may stick to that fixed amount of change even if your customers grow. Because when the no. of customers grow you get more change from them.)
     
  5. bedinbags

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    If you and your manger doesn't have more time then you can hire an accountant. But you should give these responsibility to the trustful person because it's the matter of money. So you should be very carefully about it. Your Accountant can submit your money in a bank if he will trustful to you.
     

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