When your petty cash department has to work from home: Tips and tricks to stay safe

When most of us think of the petty-cash department, we tend to think of straight-faced persons seated behind a desk in an office, dealing with piles of paperwork and always counting money. A petty cash accountant working from home without face-to-face meetings or paper exchanges hasn’t seemed possible …until now. Times have quickly changed.

Because of this hiatus occasioned by the uncertain times that we’re going through, doing petty cash accounting by working remotely has been made possible by technology. A lot of businesses are still nervous about it and that’s natural because they might not know how to go about it. However, all that’s needed to be known is what tools can make this work paperless and away from the office.

Here are some hacks.

Face to face meetings
Most interactions with these accountants tend to be impromptu rather than scheduled. There’s no difference in a remote setting other than using phone calls or video conferencing tools. No need for a conference room! It’s just as easy to have impromptu meetings using Zapier as it would be in any office. You could also set up a Zoom meeting and share the link in your Slack channel and you can have that same sort of spur of the moment meetings, as long as all the participants are online at the same time.

Work
The accounting aspects of working remotely for petty cash accountants are not much different from working in an office. There are still weekly meetings, collaborations, month-end reports and payment approvals.

There are a lot of cloud-based apps but we’ve found an innovative way to manage petty cash payments provided by Standard Chartered Bank through their award-winning platform called Straight2Bank

Straight2Bank and Petty cash

The platform is an online banking platform designed for all your business transactional needs. At the moment, we are advised to stay away from physical cash (coins and notes) and naturally, we’re embracing alternative means to do banking.

To make the petty cash disbursements, all you have to do is list all the mobile numbers and amounts to be paid on an excel sheet template. Load this on Straight2ankB and click pay. For added security the payment goes through your organisation’s internal approvers.

Working remotely may seem like a foreign concept in the petty cash accounting world, but when you’re set up with the right applications, it’s totally achievable!

To learn more, visit https://www.sc.com/ke/business-channels/straight2bank/

Bulk Payments Standard Chartered Bank
Bulk Payments Standard Chartered Bank

 

Thugs steal Kshs.72 million from Standard Chartered Bank in Nairobi!

It seems that every year in Kenya the country will bear witness to an audacious robbery from one of our banks. And no, I am not talking about corruption (that is most likely always taking place), I am talking about robbers stealing money from a bank like the movies.

This story is one such. Men posing as police officers on Thursday night stole 13 bags of money, roughly sh 72 million from the Standard Chartered Bank in Nairobi.

Police officers told The Star that the imposters stole the cash in transit from the G4S headquarters along Witu road and an ATM in Nairobi west today morning.

“On arrival they (thugs) requested password from head quarters then opened the ATM machine,” the police ob 2 /5/919 in Langata division Langata police station stated.

Unyama ulioje!! Class seven pupil killed and body hanged by robbers in Webuye in a failed robbery

G4S head of escort Wilfred Nyambane reported that the G4S employees had left the headquarters in two vehicles with three men they thought to be cash-in-transit officers escorting them.

“The officers who were escorting the cash turned out to be robbers and demanded all their phones and offloaded the cash to another car make Noah registration number not taken that emerged and they made away with 13 bags of cash roughly 72 million,” the police signal said.

G4S officials told investigating officers that the imposters demanded the money on transit and Standard Chartered’s ATM passwords where they withdrew millions of shillings in an incident that was reported at 8:00 am today.

“Scene visited by divpol, DCI Langata and Nairobi west officers. Scene proceed by soc. no recovery nor arrest made,” the police signal said.

The last great robbery occurred in November 2017 when robbers dug into the Kenya Commercial Bank branch in Thika and stole over Sh52 million.

Read here for more