For cash business owners, affordable automation is now available in the form of automatic bill counters that will make the job of counting your money a lot easier, provide additional accuracy, and will save you tons of time better spent with customer service, marketing, or even family.
When deciding what type, brand, and feature-set to purchase for your money counting automation needs, consider the following guidelines:
First, understand the terminology so that you make the correct purchase the first time, avoiding any hassles caused by assumptions or marketing hype. Here are the most common terms to understand:
(1) Definitions:
"Portable" = battery powered counting machine, usually handheld.
"Counter" = a machine that counts and displays the number of bills provided, regardless of value of the bills. That is, if 100 quantity of $5.00 bills are added, the count will return "100". Since standard counters do not evaluate the value, or denomination, of each bill, a typical counter can count the number of bills from multiple countries, such as US dollar, Canadian dollar, Mexican peso, or Euro, among others, fitting the size parameters of the machine.
"Mixed Bill Counter" = a machine that counts and displays the number of bills provided, plus evaluates the value of each bill. That is, if 100 quantity of $5.00 bills are added, the quantity count will return "100" and the value count will be "$500". If a mix of bills is included, such as 100 x $1 plus 10 x $5 plus 5 x $20, the quantity count will return "115" and the value count will be "$250".
"Bill Sorter" = also known as a discriminator; a bill sorter is a machine that operates similar to the mixed bill counter, but includes multiple trays for separating the bills into stacks of their own denomination.
Second, dig deeper into understanding and determing the type of counter that suits your specific needs:
(2) Type: As described above, there are four general types of bill counters to choose from... portable, bill counter, mixed bill counter, and bill sorter.
A portable bill counter is generally battery powered, lightweight and easy to transport, and provides the ability to count a small number of bills (~80-100 at a time), and may include features such as counterfeit detection. The expected price of portable bill counters range from USD$170 up to USD$900. Best suited for artisans, tradeshows or portable vending booths.
A bill counter is electric (AC) powered, requires a countertop footprint of about one square foot, and can vary depending on features. The expected price of bill counting machines varies depending on quality, speed, and features from USD$100 up to USD$1000 for most small business and commercial settings. In addition to the ability to count bills, added features can provide additional convenience or security as needed.
A mixed bill counter is electric (AC) powered, requires a countertop footprint of about one square foot, and can vary depending on features. A mixed bill counter may have multiple counting and/or sorting modes, including counting and sorting by the value (denomination) of each bill into one or two separate trays. Off-sorting is a method used by mixed bill counters to separate a single bill value (e.g. $1) from all other values (e.g. $5, $10, $20, etc) and requires multiple passes to separate and count each denomination. Some mixed bill counters include the ability to count all bills (similar to the standard bill counter), count the quantity and value of a mixed stack of bills (providing a quantity count and a dollar value total for each bill / all bills), and the off-sort method to separate and count one bill denomination among a mixed stack of bills. Due to the added software requirements and United States patents held, the expected price of mixed bill counting machines varies depending on quality, speed, and features from USD$1700 up to USD$4000 for most small business and commercial settings.
A bill sorter counts and sorts by the value (denomination) of each bill into multiple, separate trays. Such bill sorters only require one pass to sort a mixed stack of bills into separate trays. The expected price of mixed bill counting machines varies depending on quality, speed, trays, and features range from USD$1800 up to USD$6000 for most small business and commercial settings.
Third, consider features that you will need in daily operations:
(3) Features: Features to consider include speed, feed systems, capacity, durability, batching, adding, calculation, error detection, counterfeit detection, and connectivity. Most businesses only have a need for basic batch counting functionality. Vending route owners will want error detection. Convenience stores and other businesses that experience higher-than-average fraud will want basic counterfeit bill detection. Nightclubs and similar businesses that deal with high volumes of cash should consider both a mixed bill counter for separating the denominations followed by a high speed bill counter to batch count the bills.
Speed: A range of 600 to 1500 bills counted per minute is normal, with 1000 as an average across most bill counters on the market. Consider capacity before selecting a counter that counts 1400 bills per minute over a counter that counts 900 bills per minute. The higher speed sounds impressive, but if the hopper capacity only allows 100-200 bills at a time, you won't gain the advantage and may even introduce errors due to running too fast. If you count more than 2000 bills at a time, look for a bill counter with a hopper capacity of 400 bills or greater. Minor speed adjustments can be made in many machines, and the added feature of selectable speed (e.g. 600/900/1200/1500) may provide more or less speed as needed. TIP: For instance, if you want a mixed bill counter to sort out the occasional $5 bill from a stack of $1 bills but can't afford the hefty price tag, consider a bill counter that runs as slow as 600 bills per minute and may allow you to visually see the $5 bill as it passes through - giving you the chance to pause the count while you pluck it from the stack.
Feed System: In the small business and commercial markets, roller friction feeding is the standard. Heavy commercial and industrial models that use suction are also available. The noticable difference in feed systems is not the technology used to grab (feed) the bill, but the position and direction of the hopper - where the bills are loaded. The front- and back- loading concept refers to the position of the feeding system used to feed and process the bills. Both systems have a hopper located on the top, near the back For instance, a refererence to a front-loading system means a stack of bills is positioned vertically
Quality: There is a close correlation between price and quality. How durable the internal components are, short-circuit protection, motor overload protection, automatic emergency stop, and warranty support are key to assessing a machine's quality. Certain brands produce high quality products and provide domestic warranty service. There are brands that produce quality bill counters but fail to produce quality coin sorters. Checking the feedback of sellers for other bill counters they have sold, including any reviews left by previous buyers, will help in filtering out the problematic brands. At a minimum, look for the 30 day return policy and the 1 year warranty. If the cost of the bill counter is substantial to you, consider purchasing an additional one year warranty to ensure your investment is protected.
Error Detection: Half-note detection alerts on torn or folded bills. Double-note detection alerts when two bills have been fed simultaneously, causing a potential miscount. Chain-note detection alerts when a leading bill has pulled in a trailing bill prematurely, causing a potential miscount. Note size- detection alerts when a bill appears to be too large or small for the expected parameters. Note: Added detection features can also affect overall speed slightly.
(4) Maintenance: All bill counters collect dust over time from counting a wide range of bill quality that may include cotton fibers from the bill itself, to dirt or grease attached to the bill. Schedule reminders to clean the machine's visible gears and sensors with compressed air and a soft brush. A good rule of thumb may be to clean your machines the same time you replace HVAC filters. For light users, that frequency may be every quarter. For heavy users, perhaps at least weekly is necessary. It only takes a minute and keeps the machine running smoothly for years to come.
(5) Canadian Buyers: A common misconception about buying from a U.S.-based supplier is that the machine is produced in the United States and therefore qualifies for limited- to no- duty charges at time of import under the NAFTA rules. Most machines are manufactured in China and exported to marketers within the United States, therefore customs duties and local and provincial taxes still apply. Some sellers offer an 'all inclusive' price which cover all costs associated with importing to Canada, thereby making your total cost more predictable.
Summary
If you run a cash business, such as a vending route, convenience store, gas station, night club, or other heavy cash business, and you know the time-consuming hassle that comes with counting your money at the end of a busy day or week. What used to be a wonderful feeling to count piles of money has now become a distraction. Automate the distraction, get back to sales and marketing, and spend more time appreciating the family that has supported your growing business all this time.
About the Author
This guide was written by the president of operations for Better Business Electronics (http://www.BetterBusinessElectronics.com) of Phoenix, Arizona USA. To contact him, for additional resources and first time buyer incentives, e-mail Brian@BetterBusinessElectronics.com or call (602) 540-8460.
