How to Count Money
To count a mixture of bills and coins, begin by separating all of the bills and coins based on their denominations (face values).
In other words, put all twenty-dollar bills in their own pile, all ten-dollar bills in their own pile, all quarters into their own pile, and so on.
Once you have all denominations into their own piles, multiply the count of each denomination by its face value to get the total value of each denomination.
Next, sum the total values of all denominations to get the total value of all of the bills and coins.
The following worksheet shows how to set up a chart for counting money.
| Money Counting Worksheet | |||||
|---|---|---|---|---|---|
| Denom.Denom.DenominationDenomination | Count | x | Face Value | = | Total Value |
| Hundred dollar bills | x | $100.00 | = | ||
| Fifty dollar bills | x | $50.00 | = | ||
| Twenty dollar bills | x | $20.00 | = | ||
| Ten dollar bills | x | $10.00 | = | ||
| Five dollar bills | x | $5.00 | = | ||
| Two dollar bills | x | $2.00 | = | ||
| One dollar bills | x | $1.00 | = | ||
| Half dollar coins | x | $0.50 | = | ||
| Quarters | x | $0.25 | = | ||
| Dimes | x | $0.10 | = | ||
| Nickels | x | $0.05 | = | ||
| Pennies | x | $0.01 | = | ||
| Total Money | |||||
How to Count Back Change
Begin by collecting the change from the cash drawer using the following steps.
- Use the price as the starting amount and collect the change needed to bring the running total up to the amount tendered (cash paid).
- Collect the pennies needed to reach the next multiple of 5¢ or 10¢. If the starting amount is $26.56, collect 4 pennies from the cash drawer to make the new amount $26.60.
- Collect a nickel or dime to bring the new amount to a multiple of 25¢. If the new amount is $26.70, collect a nickel to make the new amount $26.75.
- Collect the number of quarters needed to bring the new amount to an even dollar amount. If the running total is $16.75, collect a quarter to bring the running total to $17.00.
- Collect the number of one-dollar bills to bring the running total to a multiple of $5 or $10. If the running total is $17.00, collect 3 one-dollar bills to bring the running total to $20.00.
- Collect the number of five-dollar bills until the running total is at $10, or ten-dollar bills to bring the running total to $20.00.
Once you have collected the correct change from the cash drawer, count the change back to the customer the same way you collected the change from the cash drawer.
For example, if the price was $26.56 and the customer handed you a fifty-dollar bill, you would have collected the following change from the cash drawer.
| Change Back | |||
|---|---|---|---|
| # | Denomination | Value | $26.56 |
| 4 | Pennies | $0.04 | $26.60 |
| 1 | Nickel | $0.05 | $26.65 |
| 1 | Dime | $0.10 | $26.75 |
| 1 | Quarter | $0.25 | $27.00 |
| 3 | Ones | $3.00 | $30.00 |
| 1 | Twenty | $20.00 | $50.00 |
| Total Back | $23.44 | ||
Next, you would count the change back to the customer like this:
- Give back each of the 4 Pennies, stating the new total as you give back each Penny ($26.57, $26.58, $26.59, $26.60).
- Give back the one Nickel and state $26.65.
- Give back the one Dime and state $26.75.
- Give back the one Quarter and state $27.00.
- Give back each of the 3 Ones, stating the new total as you give back each One ($28.00, $29.00, $30.00).
- Give back the one Twenty and state $50.00.