We need to pay for a lot of purchase by Cash On Delivery here in Japan. Are there any special procedures I should use to manage this cash account? I've read many articles on Petty Cash management but they all emphasis the fact that Petty cash is for small amounts of cash i.e. less than $100 is oft quoted. In our case we are spending, on average, over $1,200 per week. For many Japanese online sellers, COD is their only payment method.
I had entrusted a former employee with managing this cash as petty cash, but discovered she wasn't really managing it properly and the account is out-of-balance. I'm thinking to just do some adjustment for the difference and start a new account and manage it properly, but wanted to first double-check and see if there are any special procedures I should be aware of, because, as I noted, every article I read about petty cash mentions it's for "petite" amounts of cash, so if we are spending around $5,000 monthly should I do anything different, or just manage this "Grande Cash" account as if it were Petty Cash?