Why do employees destroy the cash register logs?

Why do employees destroy the cash register logs?

If employees are unable to balance the cash recorded on the cash register and the cash received, they may resort to destroying register logs to avoid being implicated in a crime. Destroying the logs would prevent the employer or auditors from reviewing the logs to identify any discrepancies with the cash received.

What happens to the money after a void transaction?

With void transactions, no money is ever actually transferred from the customer’s debit or credit card company to the merchant. But refunds are issued after a transaction has settled and the customer has paid for the good or service. Some merchants and credit card processing systems may actually settle transactions immediately.

Can a fraudulent credit card transaction be voided?

Fraudulent charges can also be voided. Card issuing companies have fraud detection services to flag fraudulent transactions. Most companies place these transactions on hold. The customer can verify whether a transaction is fraudulent with the company, which will immediately void the transaction.

When to report a discrepancy in petty cash?

Report if there is any discrepancy. If the sum of steps 2, 3 and 4 is not equal to the initial balance, it means someone has withdrawn money from petty cash without leaving you note or without attaching a receipt for business expenses in the safe.

With void transactions, no money is ever actually transferred from the customer’s debit or credit card company to the merchant. But refunds are issued after a transaction has settled and the customer has paid for the good or service. Some merchants and credit card processing systems may actually settle transactions immediately.

What’s the aim of a void sales fraud?

Void sales frauds generally target cash sales. The aim of the fraud is to stop the sale from being recorded and to steal the proceeds. If the sale is not recorded, the money will not be missed from the banking of sales receipts.

Is it OK for management to void a check?

It’s ok to give them the ability to void (item correct) an item “while” they are in the process of ringing the check; however, once the check has been recorded (saved or printed) then only management should be allowed to perform a void function.

Why are voids not recorded on a restaurant log?

But theft prevention doesn’t stop there – in fact, we’ve found that management is more likely to steal if when given the authority to perform voids (for overrings, mistakes, etc.) they are not held accountable for recording the reasons for voids or after-the-sale adjustments.