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Q:

# How do you count back change?

A:

The cashier begins with the amount owed on the transaction and counts the change owed back to the customer one piece at a time, adding up to the amount originally tendered by the customer for the transaction to correctly count back change. Counting back change during cash transactions helps prevent mistakes in the cash drawer and improves customer service.

Know More

To learn from an example, imagine that a customer gives the cashier a \$20 bill for an \$8.42 purchase. First, the cashier collects the \$20 bill and calculates the amount of change owed to the customer, which in this case is \$11.58. The cashier says aloud to the customer, "The total is \$8.42 out of \$20," and counts back the change from the smallest denomination to the largest. Handing back three pennies, he says, "Eight dollars and 45 cents." Handing back a nickel next, he says, "Eight dollars and 50 cents." Next, handing back two quarters, he says, "nine dollars," and handing back a \$1 bill, he says "10 dollars." Finally, handing back a \$10 bill, he says, "20 dollars total." The process of counting back change allows either the customer or the cashier to correct any mistakes immediately, eliminating common errors such as mistaking a \$20 bill for a \$10 bill.

## Related Questions

• A:

Counting money back, a method of making change, is done by counting out loud, starting with the purchase total until the total amount that the customer gave for the purchase is reached. The cashier increases the amount stated out loud as he adds on the amount of change he takes out of the cash drawer.

• A:

Banks and fee-for-service coin machines are the easiest places to have coins changed for notes, according to the Chicago Tribune. While fee-for-service machines always take a portion of each dollar counted, banks commonly waive these fees for members. Exchange coins for cash during regular business hours at banks or during extended hours at a grocery store, where fee-for-service coin machines are most commonly located.

• A:

A number of underlying factors support gold price fluctuation, but the primary reason for constant changes is that gold and gold derivatives are traded daily on several exchanges, according to Fink's Jewelers. Investors base buy and sell decisions on relative supply and demand factors of gold.

• A:

There are 293 ways to make change for a dollar using a combination of pennies, nickels, dimes, quarters, half dollars and dollar coins, according to the Mathematical Association of America. It has been disputed that a dollar coin is change for a dollar bill since the definition of change dictates the coin value equal that of a larger coin or bill. Using that definition, the dollar coin would not qualify and the total count would decrease to 292 ways.