When you think of a cash counting machines, your home bank may first come to mind. It finally makes sense. Banks are literally in the money handling business, so it makes sense that they should automate some of the process.
But there are many other organizations that can benefit from automated cash counters. Small businesses, businesses, churches and community groups work with large amounts of cash. Businesses such as laundries and vending machine operators who handle piles of change can also take advantage of coin counters.
If you are considering investing in a calculating machine, here are some benefits to consider.
Money counting machine saves time
Depending on whom you are, this can be a significant benefit. While you might not mind spending ten minutes counting money after a church cake sale, counting money can be time consuming if you’re running a small business.
Also, keep in mind that you don’t want everyone to count your money. For example, grocery stores do not allow minimum-wage workers to count all shifts. Instead, the task will fall on a manager. Basically, your company will pay one of its more highly paid employees to sit in the back of the office and count the money. Do you really want your boss to spend the first hour of his shift?
Money counting machine reduces errors
Employee fraud and theft are not the main reason for the company’s financial losses. This dubious credit applies to the same thing that led to some of the worst disasters in history: ordinary human error that happens every day.
How many times have you listed so many things only to say, “65, 66, 67…or 68?” Suddenly you have to start over. Counting hundreds of bills can quickly become overwhelming and distracting for even the most stoic of people. And that is the best-case scenario where you actually catch the problem. In the worst case, you wrote down the wrong payment slip number.
This doesn’t even take into account that in some countries it’s easy to confuse two similar bills. In the US, for example, it’s very easy for a $1 bill to end up in a pile of $10 bills, or vice versa. This can lead to incorrect reports even if you have specified the correct number of accounts.
Many high-quality cash registers offer mixed value banknote detection to prevent this. These machines scan each bill as it passes, determine its value and add it to the total. This type of machine can not only prevent major mistakes, but it can also save you time because you don’t have to sort your bills by denomination before calculating them.
Money counter machine catch counterfeit money
Not all cash registers are designed to detect counterfeit money. Many low-end models only count bills and don’t scan them or do any other type of reading. However, high-quality cash registers usually have a built-in counterfeit detector.
There are three ways machines can detect counterfeit goods:
• UV detection. Many countries including US, Canada and UK use special UV inks. When exposed to ultraviolet light, scratches or other marks appear that are not visible under normal light. This method is very effective, although a small number of counterfeiters can copy the UV mark.
• Magnetic detection. Another way many countries protect their currencies is by using magnetic ink. The machine can recognize the magnetic ink and confirm that the money is genuine. Although few forgers could copy this ink, this machine had one distinct drawback; Old bills can lose their magnetic markings over time and end up being marked as counterfeit even if they are genuine.
• Infrared detection. This is similar to UV detection, but relies on infrared-sensitive lines and watermarks. At the moment we haven’t heard anything from counterfeiters who managed to copy infrared ink. But if we have enough time, we are sure they will.
You know your business better than we do, so it’s up to you to decide if counterfeit detection is worth it. If your business receives a lot of fake invoices, it probably is. However, most organizations do not need to invest in more than one of these types of detection. One type is usually sufficient to catch most counterfeiters.
Money counting machine can calculate unusual bills
Anyone who has operated a cash register at some point will have to make a decision about what to do with $2 bills or $1 or $0.50 coins. There is no proper stack to put them in and they can be shuffled with the stack at the end of the shift. This can be a real headache for anyone counting their money.
Money counting machines with mixed-digit recognition can seamlessly process these banknotes into piles of mixed denominations. Likewise, a good quality change counting machine will be able to process coins of any denomination.
The JF Technology – the best collection of money counting machines on the market as well as coin counters. Whether you’re a local community organization in need of a reliable small unit or a large company that needs some serious horsepower to crunch cash, we’ve got you covered.