There are a few methods in organising a foolproof system to have control over banking operations, depending on your suitability, you can adopt one or more system:
I don't know what kind of operations you have and its requirement, assuming certain single office set up I put forth these suggestions, anything specific you can get them clarified in due course.
So far as handling Cash is concerned, by your own option, you may entrust this task to your cashier who must be reliable, honest/faithful & shrewd. If necessary some deposit money can be secured before appointment or recovered from monthly salary and accumulated be kept as security deposit.
Reg. other than cash transactions, there are payments by way of –
i) Crossed cheques in favour of the payees’ names and posted to them
ii) By cheques, remitted into the bank accounts of the payees in their respective banks
iii) By NEFT (upto 2.00 Lakhs), RTGS to any bank & any branch
iv) Online transfer by NET BANKING using confidential PW provided by the banker
v) By Net banking using dedicated mobile Nos
vi) Authorising your banker by way of sending them particulars of payees’ bank a/cs together with amounts to be credited. This authorisation can be transmitted through your exclusive eMail a/c.
If you consult your banker they might suggest best method suitable to your kind of operation.
If you opt, of authorising your colleagues to operate NET BANKING you might open another bank a/c (a secondary a/c in the same branch or another nearby branch or bank) by use of the exclusive User ID & PW shared by you. The PW can be changed by you any time without notice to anybody. You will transfer funds from your main/primary bank a/c to the extent amounts required on day-to-day basis. As you will receive SMS alerts & eMail messages for every transactions and balances, you will have uptodate information at any time. Full statement of accounts can also be seen, prints taken at any time.
This will give you enough tool to interfere and take any corrective & alternative steps at any time.
A single person operating the NET Banking is available only if yours remain as a sole proprietorship business. If you are a partnership firm or a Co., NETBanking can be operated by two authorised persons only.
In my view, agreements/undertaking or any indemnity bonds can help to some extent only as they cannot be a preventive tool. It cannot serve as a foolproof system. In the days of digital frauds becoming more and more it's imperative that monetary controls should be such that ensure NO ROOM for frauds & embezzlement.