How To Count Money Fast? Here The Explanation

financialtreat – will explain How To Count Money Fast? Here is The Explanation you will get in the following article. let’s look at this article carefully!

Counting money is a fairly easy task, but it is very rewarding to be able to have an image of knowing the amount of change lying around you. Counting money can also be a great way to practice math. For that, we will briefly review the related topic of How To Count Money Fast.

Learning how to count money properly is a fun task that can be used, especially if you work in the retail industry or do work that involves using a cash register. Well, on this occasion, let me explain about How To Count Money Fast. For that, see the explanation in this article.

How To Count Money Fast? Here The Explanation

Coins, or sometimes called coins in English, are metals that are used as a means of economic transactions and are usually issued by the government. Coins are a small nominal medium of exchange used officially in Indonesia.

·        Gather All Coins Into One

The first thing to do is collect change. Empty your pocket, purse, wallet, or any other place to store coins. Spread them out on a flat surface so that all the coins are visible and not stacked on top of each other. Each coin should be easily distinguishable.

·        Arrange the coins by size and value.

Then, coins can be grouped by value. For example, collect all $500 in one area, all $1,000 in another, and so on. Do this until you get a small pile of each coin. Then, arrange each pile of coins to form a column. When you’re done, you’ll have a bunch of small piles of coins on the table.

The size and color of the coin make this step very easy to do very quickly. This step can be done in descending order from high to low value by stacking all the $1000 bills first, followed by $500, $200, and finally, $100.

·        Count the amount of money from each pile.

Now, calculate the value of each pile of coins and write them down. For example, if you have 10 coins of RP 100, note that the value of the pile is RP 1,000. 5 RP1,000 coins? Write down Rs. 5,000 below. Complete the counting of each pile of coins. Value for money can also be recorded using a tally chart. Start with the value of each coin at the top of the scheme, then write down how many coins you have, and finally add up the total.

If you have too many piles of coins, mark them by knowing which parts have been counted. This step can be done simply by moving the pile of coins to the other side when the count is complete. For example, leave the pile of uncounted coins on the right side and slide them to the left when you’re done counting.

·        Total Number of Coins

Once you know the value of each pile of coins, just add them all up to get the amount of money you have. The value of money can be added when counting each pile and keeping the amount in mind so that the calculation is completed faster. If you’re worried about forgetting, writing down the value of each pile of coins allows you to remember and add up the whole at the end of the calculation.

·        Consider Using a Coin Sorter

It’s a good idea to get a coin sorting machine if you need to process lots of coins on a regular basis. This tool will sort the coins by value. Some more sophisticated machines can also calculate and inform you of the total amount of money in it.

Coin counting machines that can be used can be found in banks or shops. But remember that, usually, coin-counting services using the machine will incur a fee. A cash register service usually costs about 10% of the total value of the coin being processed.

How to Count Banknotes Quickly

Banknotes are not made from ordinary paper because ordinary paper is not durable and easily damaged because banknotes are often folded and exposed to water. Banknotes are made of cotton. This paper material is proven not to be easily damaged, even if it is pulled or folded. So let’s take a look at the discussion below.

·        Arrange the Banknotes

After you finish counting all the coins, move on to the paper money you have. Basically, the same method as counting coins will be used, namely by separating the banknotes into piles based on the same value, then calculating the sum of the values of each pile. The first step that must be taken is to spread the banknotes on the table so that they can be seen consciously one by one. Then, separate them into groups based on their value for money.

For example, make a pile of IDR 5,000, IDR 20,000, and so on. Depending on the amount of cash you have, this process can either be completed fairly quickly or take some time. Start with the largest value if there are many notes to count. Arrange banknotes worth Rp. 100,000, Rp. 50,000, wafir and Rp. 20,000.

·        Count and Record the Total Value of Banknotes

Once you have separated the banknotes into different piles, all you have to do is go ahead and calculate the total value of each pile. If you have five bills of Rp. 20,000 each, the total is Rp. 100,000.

As with coins, go through each pile and record the value on a piece of paper, then add up all the values at the end of the count. If you are more confident in your ability to count and remember, the amount of money values can be calculated during the process and you only write down the total when you have finished calculating the total.

Another way is to use a table with the top of the schematic listing each banknote value calculated, then add up the totals. For example, if you have two $50 bills, three $20,000 bills, four $10,000 bills, two $5,000 bills, and six $1,000 bills, the “Overall” column in the table would read “100,000, 60,000, 40,000, 10,000, 6,000”. All that money must be added up to produce IDR 216,000.

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·        Add up the number of coins and papers you own.

The last step that must be done is to combine the total number of coins and paper into a row. This will result in the total amount of money being calculated. Record the amount and use it to track your budget and personal finances.

If you want to save the money, put it in a special bank deposit bag. The total value of the money inside can be written on the outside of the bag. Consider clamping notes with paper clips if you plan to store them.

These are some reviews that discuss How To Count Money Fast. As mentioned above, coins and banknotes have different values when used, and the way to calculate them is also different.

 

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