Effect of Conventional Receipting

What is Conventional/Manual Receipting?

reciptingConventional/Manual Receipting System is an organizational based conventional preprinted receipt booklets or computer based receipt issuing system which negate the or makes impracticable principle of separation of duty of internal Control of cash collection and receipt issuing independent of the cash collector/cashier and has lacks counterfeit proof capability.

That is, the same person that collects the cash is the same person that issue receipt for the cash collected. This means, management and control of receipting/cash in a single hand – the cashier! And this has been the very reason for cash/sales theft by staff/cashier, reason for teeming and lading, parallel receipting by staff, window dressing of stocks, etc.

Defects of Conventional/Manual Receipting

1. Allows revenue leakages.

2. Allows sharp practices on your receipts.

3. Allows unscrupulous persons to impersonate your organization/organization’s receipt and issue fake receipt to your potential customers.

4. Allows staff of your organization to maintain personally/parallel printed receipt booklet alongside yours to collect money thereby divert your revenue into personal purse.

5. Allows sharp practices on your receipts which have made you not to have higher/all income into your coffers than your current position.

6. Does not allows you to know or have list of your receipts/income real-time.

7. Does not allows you to know how much cash/sales your organization/cashier /staff /agent has collected/made real-time anywhere you are in the world.

8. Allows Teeming and lading.

9. Allows Window redressing of stock, etc.