Why Do You Need a Coin and Banknote Sorter/Counter? (Updated 2019)

    Jul 27 2016

    Topics: Automated Cash Management

    You may be surprised, but there is one thing that you are wasting way too much time on at your business: handling money. This important task is completely necessary, but what isn't necessary is having any one person doing it.

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    What you really need is a high quality cash counter, including currency machines, coin counter sorter machines, and a counterfeit machine. Once you automate cash counting, you will be shocked at the margin of error that you allowed to be absorbed directly from your profits. Check out more reasons why it's important to invest in cash counters.

    More Accurate Accounting

    More accurate accounting practices lead to more accurate budgeting, spending, analysis, and in the end, profits. It is very important that you count all of your money in the till and the safe accurately, and yet it is a waste of employee time and resources to undergo long coin counting projects. Counting notes by hand is time-consuming and must be carried out two or three times to make sure the numbers are accurate to correct any human error. A coin sorting counter can do the job in a fraction of the time, and much more accurately. Indeed, cash counting machines truly allow a business to maintain 100% assured accuracy for cash transactions.

    Detection of Foreign Currency

    If you run a business that receives a lot of foreign traffic, chances are that foreign currencies have crept into your till. High quality scanners within the currency-counting machine are able to tell exactly what type of currency you have received, so you can keep better track of your money in general.

    Detecting Fake Currency

    One of the worst things that can happen to a business is to have fake notes pass through. Essentially, you then lose the value of the goods or services, as well as of whatever change was made for what was thought to be a full payment. If you accept cheques as a form of payment you want to make sure they authentic. A cheque scanner will not only serve this purpose but will insure that your cheques are deposited automatically.

    From a coin counter/sorter to retail cash management, don't let your change slip through the cracks!

    Blog-cta-9-cash-handling-best-practices-for-retailers

    Andrea Lombardi

    Andrea Lombardi

    Andrea joined the CashTech team upon its inception in 2003. Learning the business from the ground up, she now utilizes her expertise in account management, planning, and negotiation while managing the daily operations of CashTech’s sales, marketing, and logistics departments. Andrea holds a bachelor’s degree from the University of Western Ontario. She enjoys travelling and has a passion for personal fitness, including obtaining her kettlebell certification. Andrea lives in Toronto with her husband and two young sons.

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    CashTech Currency Products Inc.
    1040 Cardiff Boulevard
    Mississauga ON, L5S 1P3

    905.696.0733