Counting money fast is an important skill to possess if you are dealing with a large amount of cash every day. There are a variety of cash counting techniques that may be used to ensure maximum productivity. Manual or automatic methods may be used to count money fast and these methods will be explored in the following article.
There are a variety of techniques one can use when counting money manually. However, they vary according to what type of money is being counted – coins or bills.
How to Count Bills
- Break up stacks according to their denomination – Dividing stacks into $1 bills, $5 bills, $10 bills, and so on helps to ensure quick counting.
- Ensure dollar bills are facing the same way up – this may be done while you are breaking up the stacks into different denominations. Not only does it make it easier to count money, but it also organizes your notes in the process.
- Count individual bills by passing them from hand to hand – pick up a stack of denominations and hold them in your non-dominant hand. Use your pointer finger and dominant thumb to hold the top of the bill to ensure that you are only holding one bill. As you count each bill lay it down on a flat surface, counting according to the denomination of the stack.
- Divide the counted bills into stacks of 50 – use a rubber band to secure each stack of the same denomination. Before this step, it will be helpful to first calculate what the monetary value will be if it is 50 of each denomination.
- Add up all the stacks and any leftovers – Add all the stacks together, followed by any leftover bills. It may be more convenient to use a calculator when adding the stacks together.
How to Count Coins
- Break up coins according to their denomination – Separate your coins into piles of the same denomination.
- Choose a dollar amount to count your coins into – Select a dollar amount that will be easy to add up once all of your stacks have been created. The dollar amount will change according to each coin denomination.
- Create identical stacks – Create identical stacks of each denomination using the initial one as a guide. The monetary value of each stack is irrelevant. What matters is that each stack has the same number of coins. Any surplus coins may be organized into a separate stack that you can set aside.
- Calculate the total of the stacks and additional coins – This is when you will calculate the monetary value of each denomination stack. Afterwards, calculate the amount of the extra coins.
- Add all the denomination stacks – Add all the totals from each denomination stack together. It will be easiest to add the total value of your coins together using a calculator and keeping track of the value of each stack by noting it down on a piece of paper.
Manual Counting vs Counting Machines
Money counting machines are the fastest way to count money and can be used in a variety of different settings that handle large amounts of cash. This includes banks, retail stores, and movie theaters. As technology has advanced so have money counting machines which are now more portable and compatible with small businesses, as well as being useful for individuals. They allow you to sort through mixed denominations with extreme accuracy and speed in a variety of different settings. Manual counting will never be as fast nor as accurate as a money counting machine as human error is always a possibility. However, the techniques and tips for counting money fast mentioned in this article are always useful to know for those who handle cash every day and might not have access to money counting machines
Tips for Counting Money Fast
- Count in groups of five using your fingers – Fold a stack of bills of the same denomination vertically ensuring that the 4 corners of the bill are all facing downwards. Tighten the folded stack using your pointer finger and thumb on both sides. As you start counting, rotate each bill using the thumb and fingers of your other hand, to press against the folded stack and unravel each bill one at a time. Repeat these actions until you have unraveled and counted the whole stack.
- Pull each bill using the opposite thumb – Using your thumb, hold a stack of vertically folded bills of the same denomination, ensuring that their corners are facing up. Secure the stack by holding your opposite pointer finger on the back of the stack. Use the thumb of that same hand to pull out the first bill from the other thumb’s grip. This may be done by swiping laterally. As you swipe each bill, make sure to count them.
- Exchange rubber-banded bills between your hands – Place a rubber band around the middle of a pile of bills that are of the same denomination. Lower the stack horizontally onto the desk in front of you. Your left hand needs to be placed on the left side of the stack, ensuring that only your pointer and middle fingers are extended. Hold the right-hand corner of the stack with your right hand. Move your right thumb to the left of the bill to pass one bill over. Change between using your left pointer finger and left middle finger to hold each bill. Make sure to count accurately while you are doing this.
Conclusion
This article has shown a variety of ways that exist to count money fast. Some manual money counting methods may appear difficult at first, but once you have gotten the hang of it it is a very helpful life skill to possess. There are also a wide variety of reputable and technologically advanced money counting machines that may be used if you are seeking an easy way to count money that is also convenient and reliable. Money will always need to be counted; it comes down to personal preference which method you choose to get the job done.