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Also the labor cost to have staff count the money in registers at closing time.
by presentation 5y ago
Also the labor cost to have staff count the money in registers at closing time.
- bell-cot 5y agoBut, at least here in Michigan, the cost of taking non-cash payment is enough higher (vs. cash) that many gas stations offer a small discount for paying (for low-margin gasoline) with cash.
- asdff 5y agoIt took my manager in food service like a half hour to count like 6 tills. For a gas station its probably even faster. Probably not more than a dozen dollars in labor to count the cash at the end of the day. IDK about how the cash is transported like if businesses are using armored cars or what and what that costs.
- akimball 5y agoMost places drop excess cash in a night depository box.
- asdff 5y agoIs that at a bank? Does a manager drive it there?
- tonyedgecombe 5y agoI don't know what it is like in the US but the UK banks charge quite a lot to deposit cash (Barclays is 0.9% for example). Also for a small business it's yet another job that the proprietor will need to handle themselves. Then you have the problems with staff dipping into the till, this almost sank the business of someone I know.