Best Systems for Handling Cash in the Office
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By the WDS Practice Advisory Committee
From Dr. Shawna Flanagan:
I suggest two separate employees oversee counting the cash at the end of the day/close out of the day. An electronic record keeping system that makes the employee put in the method of payment when the patient pays for their services is also a key component to keeping payments accurate and making sure all cash payments are accounted for. We keep all cash and deposits in a locked safe in my office manager’s office and try to go to the bank for a deposit at least two to three times weekly as not to leave cash in the office. I do not take Venmo but it could possibly be an option for patients who want to use “cash” to pay for services. I would assume you would have to set up a Venmo business account that goes directly into your business bank account.
From Dr. Sarah Jackson:
We used to accept cash, but several times over 15 years there was theft. About 5 years ago we decided to negotiate our credit card rates as a priority and not accept cash. We rarely have patient complaints and we have never had a single issue with theft since then. We also scan the checks at the front desk so they automatically are deposited. This has eliminated any employees leaving several times a week to go to the bank.
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No need to accept cash. Open a Venmo business account, get a QR code to display at reception and offer quick cashless payments for patients if they don’t have a credit card.
ReplyDeleteDoes Venmo allow people without enough cash in their bank account to make a payment? I've had several patients write checks and then a few days later the checks don't clear due to insufficient funds. Does this happen with Venmo, too?
ReplyDelete