Lesson 2: Preparation and Setup
Prepare Yourself
Preparing for your buyback is very important. Please refer to the Link opens a new tabBuyback & Rental Return Fundamentals Workbook
Once you are assigned a buyback location, you should obtain additional information from the MBS Representative. Learn how the money, equipment and travel arrangements are handled. In most cases, you are responsible for your travel plans and scheduling; check with the Rep.
Make sure you are aware of the MBS dress code. Plan accordingly.
Prepare the Site
You are responsible for setting up the buyback site. The bookstore has probably had past buybacks and will assist you in where and how to setup the equipment. Make sure the site leaves plenty of space for the books purchased and space for the students to line up (long lines) while still maintaining a secure area.
Have the bookstore show you where to store the books, where to store the equipment, and most importantly, where to store the money.
Buyback promotional materials, boxes, labels and other accessories have been previously shipped to the bookstore. Check to see where everything is located and make sure the promotional materials have been placed throughout the campus.
Checklist of questions for Rep or bookstore:
- Will you print receipts for all transactions?
- What are the problem books for your buyback?
- A valid campus ID is required for anyone selling a book. Find out if the ID also needs to be entered into the system for each transaction.
- Do you need to manually enter the retail list?
- Will you need help setting up the hardware?
- What are the steps to initializing the buyback?
- What paperwork needs to be done?
Buyback Security
A general security discussion with the MBS Rep and the bookstore is recommended to review the following:
The Lead Buyer is responsible for all MBS funds. S/he will need to make a single bookstore person responsible for the "vault cash."
If you are buying alone, make arrangements with the bookstore manager in advance to take care of the cash during your absence.
Buyback funds should never be commingled with bookstore funds.
Never leave MBS cash unsecured with someone other than an MBS employee or the Bookstore Manager.
Always verify cash upon receipt from bookstore personnel or from our Accounting department.
A minimum amount of cash should be kept at the buyback station(s). The Lead Buyer will consider the size of the buy and the accessibility of secure storage in determining a limit.
Individual buyers are responsible for their drawer.
Remote locations should be attended by two people.
Cash in excess of that kept at buyback station(s) should be left in a locked money bag and placed in an area of limited access (store's safe or accounting office).
Only MBS employees or representatives of MBS should distribute the cash.
At the end of each transaction, count the total for the transaction to yourself as you take it from the drawer and then out loud to the student as you pay them.
Always partner with the Bookstore Manager or Lead Buyer when handling stolen books that come through buyback. Never accuse the seller and make sure you and/or the bookstore staff have sufficient information before approaching the customer.
Cash should be verified daily. Complete the Daily Cash Verification Worksheet.
Cash should always be counted in "dual control" (i.e. two people must agree on a "cash count" before transfer of responsibility).
When counting money, it is not neccessary to open every bundle, however, do check the total amount.
Never count money in public view.
Cash must be transported in a locked money bag and the bag should be placed in a briefcase or box for additional security.
Books need to be treated like cash. Know the carton count at all times.
Number each carton daily and keep a cumulative total.
Make sure a responsible person is in charge of carton security and double check the carton count daily.
Avoid returning from your buy with large sums of cash. Make every effort to secure a money order or check payable to MBS.
You are responsible for the cash. Others may be aware of this, so take the necessary precautions and stay alert.
Never put yourself at undue risk.