Both small and large businesses rely on accuracy when it comes to incoming payments. And while credit payments are electronically recorded, cash payments can be much more difficult to track. Counting errors when making change and the temptation for employee theft can both cause threats to the success of businesses of any size.
Making use of currency sorting machines, as well as fraud-fighter counterfeit machines, can help business owners show a greater profit. In fact, implementing the right retail management systems can help employers confidently train their workers for both credit and cash transactions. Finding the most accurate kind of scanners for business allow all employees who handle large bills to make sure that they do not accidentally accept anything that is counterfeit.
Consider some of these facts and figures about the cash recycling industry and how it works in managing coins and detecting counterfeits:
- A currency-counting machine is a piece of equipment that counts money, both stacks of banknotes and loose collections of coins.
- Portable cash counters allow retailers to set up shop in a variety of temporary locations.
- Estimates show that one-dollar bills account for 48% of all the paper bills printed by the U.S. Bureau of Engraving and Printing.
- Removing the temptation from employees makes work settings more manageable. Fortunately, when you install a cash recycling machine employees do not have access to the paper bills or coins.
- Fully electronic currency counters are available to count batches of notes or of coins without having to process them individually. This equipment was first introduced in Great Britain in in the year 1980.
- Electronic coin sorters and counters save employees time at the end of every shift when the money needs to be counted.
- Certified service technicians who have received factory training from the machine manufacturers enable these service people to diagnose symptoms and correct problems the first time and by deadline.
- The Secret Service was founded on July 5, 1865, and minimizing counterfeiting problems was its primary task.
- Cash counting machines help a business maintain 100% assured accuracy for cash transactions.
- One of the major reasons companies and businesses use money counters is because of the amount of time it saves.
- Unless you use cash counting machines, end of shift work requires two people to take the time to hand count the bills and the coins.
- Notes that are counted by hand are time consuming and are usually carried out two or three times to make sure the numbers are correct and to make up for any human error.
- Typically, a dollar bill only lasts 18 months before it wears out.
If you are trying to find a way to make sure that you get A PERFECT COUNT at the end of every shift, it might be time to invest in a retail cash management system that includes a cash recycling machine and high quality scanners.