Unless you operate as an online selling business, counting money is integral to every business. It is vital to have a skilled cashier to make sure no mistakes occur. However, that does not mean not hiring beginners.
Proper training is inevitable if your new cashier is inexperienced or you do not have a cashier at the moment. Here’s how to count money as a cashier without making any mistakes.
Understanding the Need for Training
Counting cash comes naturally to all of us. Yet, keeping a cash drawer for a business is different from counting money in your pocket. You must tell your employees why they need to be trained before managing huge amounts of cash. The need for human interference does not go away even when you have cash registers and counters. Learning to count money as a cashier will come to the rescue in case of a power failure. It also allows easy rechecking of money count.
The first step in training new employees is training them to verify the drawer balance. Do not forget to tell them to verify the balance before starting their shifts. It is better to do the verification process under the supervision of a manager or a supervisor. It will help reduce the chances of mistakes when they add money to this account. The cashier must know that they are responsible for the cash drawer. No other employee except the manager can access the cash register beside them. Counting the cash in the cash register is critical before you add more money to it.
Many people might think that it’s an easy job to make a change. However, you may not be aware that major blunders often happen in giving change to the customers. Most customers usually do not pay the exact amount. Instead, they would pay a round-off figure, and you have to give them their change.
Train your employees to make changes for the customers correctly. The best way is to use the count-up method. It involves adding the amount to the total purchases, bringing it to the amount paid by the customer. The cashier takes the amount of cash from the customer and sets it on the register. Next, they count up to obtain the nearest round figure, then to the total paid by the customer. For example, a customer pays you $100 for a $76.60 product. You firstly add coins to make it $80 and then add bills to make it $100. It is an easy method of counting money with fewer chances of error.
While the chances of mistakes are less with the count-up method, they are still possible. The next step is to count the money again while giving the money back to the customer. You may also count it verbally and place each piece of currency in the customer’s hand gradually.
Balancing the Drawer
Just like verifying the balance at the beginning of the shift, the cashier has to balance the drawer before winding the shift. The cashier must count the total amount in the register and non-cash (ATM card/ Credit card) transactions. The ending balance should be accurate according to the opening balance and daily transactions. All the data must be added to a spreadsheet or other computer software.
Train for Cash Devices
Training your cashiers to use cash devices saves their time and allows rechecking the amounts. You may add a cash counter or coin and note recycler to count money as a cashier error-free. It is a vital addition for efficient cash counting.
How to Count Money Fast?
The ability to count money fast is one of the essential skills for a cashier. No one wants to stay in the line for a long time. Your cashier should count money fast without errors to avoid damage to the company. Here are a few tricks to count money faster:
- Firstly organize your denominations into different groups.
- Then make reasonable stacks if you have a particular amount to work with.
- Improve your speed by practicing in your spare time.
- Always double-check the counted money before you are sure you are a pro.
- Use a money counting machine when you are low on time. You may also use it to recheck the amount after counting.
What to do When Someone Asks for Change?
You may sometimes come across situations when people come to ask for change for a particular bill. The best approach is to ask them about their needs and use your techniques to count money as a cashier. Lay it down on top of the cash drawer and count the change in bills as required. Hand over the cash to the customer, verbally counting it to them. If it’s a large amount, it’s better to give some bigger bills and a few smaller ones.
Matthew is a Co-Founder at BusinessFinanceArticles.org. Matthew was a floor manager at a local restaurant in Wales. He lost his job after the pandemic and took initiative to make a team and start the project.