Important Things to Keep in A Safe Deposit Box

Important Things to Keep in A Safe Deposit Box

If you are running a business, investing in a safe deposit box could prove to be the best way to secure your possessions. A safe deposit box allows staff to deposit cash and documents without having authorised access like keys or access codes. Your staff will not be able to access the items inside but can safely put cash and documents through a small opening that they can use to make deposits. Once deposited, these items cannot be withdrawn by anyone other than the holder of the key and security code. Having a safe deposit box on your premises will make access difficult enough for both internal and external thefts. Safe deposit boxes offer a secure way of storing valuable items that will give you control and peace of mind. So, what are the important things to keep in a safe deposit box? Let’s find out.

1) Cash Sales

Most businesses will have their daily sales in cash inside their offices for some time before it is due to be turned over to the bank. Although a cash register or cash box may be in place, it is not an ideal location to leave your money after the end of your daily operations. It is the first place thieves will expect your cash to be where it can easily be accessed. Keeping cash in a cash register also endangers your employee who is handling your sales transactions. The wisest decision you can make to secure your cash sales is to put them in your safe deposit box right before store closing. Make sure to keep them all together in an envelope or a bag with labels for which date it was collected.

2) Cheques and Receipts

Along with your cash sales, all cheques and receipts should be dropped into the safe deposit box. This is helpful to ensure confidentiality in all your business transactions and or for future audit reference and tax purposes. These are important records you cannot afford to misplace or lose.

3) Sales Reports and Financial Records

At the end of every business day, a detailed sales report and other financial transaction records must be accomplished. Like receipts, they are confidential records you will need for future audit reference. Keeping reports and financial records is also a way that you can check how your business is doing and how best to improve your sales. That is why you must handle these documents carefully and make sure they are kept secure.

4) Lease Agreements and Insurance Policies

A lease agreement when you are renting your business location is crucial. It is a binding contract between a landlord and the tenant that can be held in court during any mishaps and disagreements. On the other hand, insurance policies protect your property and valuables against all kinds of risk of loss caused by damages, losses, or other disturbances. Both documents should be readily available in your office, and the best place to keep it is in a safety deposit box, where it is kept hidden and safe from tampering.

5) Other Valuable Items

Aside from cash and documents, a safety deposit box can also be a place where you can safely store other valuable items and keep them inaccessible by most of your employees. Depending on the size of your safe, they can be any of the following:

– Bank Passbooks
– Extra company phones
– Company laptop and other gadgets
– Lost and found items like customer’s wallets, IDs, credit cards or jewellery.