Retail SOPs

There should be a clear written policy relevant to sales, for both the export and the retail. A specific
security amount should be collected from the retail shop manager. Duties should be segregated
between the cash custodian, sales man and the shop manager. Each of them should be accountable for
their own work for example sales man should not be allowed to be the cash custodian. Similarly, the
shop manager should oversee the day to day operations and should aid his staff as and where needed.
Un-deposited cash should be reconciled with the cash memos; this will mitigate the chances of any
fraudulent activity or any misappropriation. Retail sales entry should be updated the very next day in
order to keep the track of the retail sales. Control accounts should be prepared for sales. The
organization should have clear policies on how to handle returns. There should be a clear policy for
Non-Returnable and Non-Exchangeable. Other cash-handling duties could be defined, such as how to
balance and close out the cash registers each night.
Inventory management procedures pertain to the handling of products in a store. These procedures
include receipt of inventory by verifying that each product is in the order as quoted; counting of
inventory each week; restricting access to valuable inventory using locked cabinets; and installing
cameras.