Your new staff members have a lot to learn in their first few days on the job. One of the most important tasks for them to master is counting cash.
Even experienced people may need to learn how to count cash in your business. They may have learned different procedures in previous jobs. And of course some new employees are starting from scratch.
Providing the same training to all new employees will help ensure everyone follows the same procedures. These tips can help you and your employees with that training.
1. Explain Why They Need to Know How to Count Cash
Before you begin teaching the employee how to count cash, you should explain why it’s important that they know how to do it. With modern technology, some employees may think they won’t ever use this training.
Counting cash is still an important skill, even when you have cash counters and registers to do the tallying for you. First, employees will still be able to count cash if there’s a power failure. This is particularly important for cashiers on the floor.
Next, machines can and do make mistakes. Knowing how to count cash gives the employee the skills to double-check the machine’s work. This is important if the employee is handing cash to customers.
2. Start at the Beginning
The first step in the process is to i to verify the drawer balance.
Make sure employees understand that they need to verify the balance before they start their shifts. Have them verify the register in the presence of a supervisor or manager.
The employee should understand that all cash will be added to this amount. They should also be aware that the drawer is their responsibility and no one else will have access to it, except managers.
3. Making Change and Counting Back
Next, you’ll train employees to make change for customers. Cash transactions are common enough, but most customers don’t pay with exact change.
Employees should use the count up process when making change. To do this, the cashier can take the amount of cash the customer gives and set it on the register. They then take the purchase amount and count up to the amount the customer handed them.
For example, if a customer hands over $50 to pay for a $45.40 purchase, the cashier will count out a dime and two quarters to get to $46, and then two toonies to get to $50.
Once this is complete, the employee should place the cash in the drawer and close it. They then hand the customer the change. The employee should verbalize as they count back the change to the customer, placing each piece of currency in the customer’s hand.
Following the previous example, the employee would say “$45.50” and hand the customer the dime. They’d then add the quarters (“$46”), and finally, they’d turn over the two toonies (“$50”).
4. Balancing the Drawer
At the end of each shift, the employee will be asked to balance the drawer. The employee will count the total amount of the till and add in non-cash transactions, like credit and debit card purchases. The ending balance should be the sum of the opening balance and all transactions.
Ensure employees know how to record these amounts in spreadsheets or day sheets.
5. Teach Employees How to Use Cash Handling Devices
If your business uses a cash counter or a coin and banknote recycler, teaching new employees how to use the device is an important part of teaching them how to count cash.
With these tips in hand, your new employees will be ready to count cash quickly and accurately.