Are you handling huge amount of cash daily in your business? How much of the productive time is spent in calculating the total amount of money you have in the cash box and then dividing them according to various denominations? You can make this task easy by using cash handling machines.
Generally cash handling machines comes with various compartments to hold bills of various denominations separately as well as special compartments for coins. The compartments for bills have spring mechanism to hold the notes securely. Some machines also come with currency tray that you can use to store bills or coins.
Benefits of cash handling machines
- Saves time that’s generally spent on counting bills and coins
- Stores the cash more securely as they come with lock and key mechanism
- Reduces the transaction time by calculating the change the cash handler needs to return
- Makes your cash box more organized as it has special compartments for bills and coins
Types of cash machines available in the market
Mainly, there are two types of cash machines: paper money machines and coin counters. As the name suggests, paper money machines deal with stacks of bills and they give a total amount of money the machine holds. The coin counters, on the other hand, do not have any fix functions apart from counting and totaling the amount of coins. The functionality of the coin counters vary quite widely and so usually more care is required while you are selecting coin counter.
How to choose the correct cash handling machine?
There are tons of cash handling machines available in the market, and all those machines are highly efficient. However, it doesn’t mean that all those machines would work for you. What will work for you highly depends on your requirements.
So while choosing a cash handling machine, it’s advisable to follow the following steps:
- Study your requirements by understanding the daily cash flow. See how many bills you receive and how many coins.
- Determine how much you can afford to spend after the machine.
- Check out the machines available in the market in your budget. Study their features and compare them with your requirements.
- Evaluate the time and money the machine will help you save if you use it.
Once you do this, it will be quite easier for you to select the exact cash handling machine for your business operations.