Suppliers are important to the survival of your business because they supply everything your business needs to meet your customer demands. There are different payment terms you can agree with your suppliers and your company must honor these terms for a healthy relationship with them. Upon maturity of the period, you may pay by check, transfer, or cash. Greater security is required when handling cash transactions with your suppliers due to the volume of cash involved in the transaction.
Do not expose yourself and the supplier
Cash transactions are sensitive and the level of temptation when other people see a large amount of cash is high. You should protect yourself and your supplier by not exposing yourselves when carrying out cash transactions. Prepare a secure room where the transaction will take place and ensure you are secure too. You might ask a security officer from armed patrol Los Angeles to stand near the door. The room where the transaction is taking place should be restricted.
Arrange for security
If some bad people discover that you are carrying out cash transactions, they might plan quickly to rob you when you least expect it. Your security and the security of your workers are always important and you should have a security arrangement with the bank security services Los Angeles to have a team of their security personnel outside and inside your premises to help deal with any dangers. You should not let every worker in the company know that you are making cash transactions because you never know who is for you or against.
Keep strict cash records
Transactions by cheque and bank transfer can be tracked and records easily retrieved through bank statements. On the other hand, cash transactions purely rely on records made during the transaction. If nothing is signed or a cash sheet prepared, there will be no way to prove that the transaction was done. You should prepare receipts, and payment notes and any other supporting document in case a dispute arises later.
Get the cash in advance
For your security, do not wait to prepare the cash the moment your supplier arrives. If you don’t have the cash with you, get the cash in advance from your bank or wherever you will be getting it. If you have it with you already, check the amount you are to pay and prepare it in advance so that it will be separate from the rest of the cash. If any amount remains, hire security from mobile patrol security Orange County to take it for banking.
Get mobile security for your business
Our mobile security team checks your property regularly to ensure it’s safe. We check for damage, burglary signs, and graffiti using the latest technology. With special arrangements, we can offer security when you need it like when carrying out cash transactions with your suppliers. Your HillQuest Security Services team is just a call away to serve you. Call us at 1.888.925.8040.