csolace Posted October 26, 2010 Share Posted October 26, 2010 Still doing my vending research and had a question for all.. when you service your machines, what method or system to you follow to count your earnings? Take the quarters home and count them up? Take them to the bank and let them count and deposit the total? Can anyone walk me through a servicing up to and including the replacement of product and removal and counting of money? Thanks! Link to comment Share on other sites More sharing options...
hutchdavidson Posted October 26, 2010 Share Posted October 26, 2010 Still doing my vending research and had a question for all.. when you service your machines, what method or system to you follow to count your earnings? Take the quarters home and count them up? Take them to the bank and let them count and deposit the total? Can anyone walk me through a servicing up to and including the replacement of product and removal and counting of money? Thanks! I would like to know also. We need a good a-z walkthrough on service day including bank deposit. Link to comment Share on other sites More sharing options...
The Mage Posted October 26, 2010 Share Posted October 26, 2010 This should be posted in another area. But anyway, there are a few different ways of doing this. Many have a bag for each machine, or head, with a number on it, and when they service, they just pour the money into that bag, and mark the bag number onto a record sheet so they can count the money later, and associate it with the machine. Others count on location, or in the car. This helps if you are paying commission on the spot. I prefer to count during the route, and not later. I tried counting later, and found I just prefer counting while I am doing my route. I have a little plastic coin counter that I use. I pour the coins in, and tilt it to the side, and anything above $10 comes out, so I can count $10 at a time. If it does not fill up, it has a slot with coin measurements that show me the amount. If I am paying commission, I count right there in the location with the coin counter, and pay them on the spot. If I am at a location that does not get commission, I get into my car, and drive to the next location before I count the money. I do this for an added measure of security. Once I have the money, if anyone saw me service the machine, they might know I have money in my car, but once I pull up to my next location, nobody knows who I am, or what I am doing, so I believe that is the best time to count the money. I use a simple zippered money bag myself to take the money from the location, and after I count it I put it into a fire safe, locking it after I count it. It adds a little security, but I know almost anyone could grab it, and with enough time get into the thing. I keep the safe on my passenger seat, and put a briefcase style notebook on top of it, using it as a desk. This also kind of hides it if anyone actually looks into my car window. Admittedly if I know the traffic is going to be bad, or I expect to spend a little time at some red lights, I have unlocked the safe before going to my next location, and counted at red lights, or being stuck behind rush hour traffic. (I do not recommend doing this while moving.) It helps that I can do this without looking most of the time, so I can keep an eye on when the light is about to change, and know when to stop counting, and start driving. Rarely I have to keep a number in my head, which is always divisible by 10, but usually it's no problem to count everything, and have it dumped into my safe before the light changes. I think most people here use a coin counter, or scale for their counting. Link to comment Share on other sites More sharing options...
The Mage Posted October 26, 2010 Share Posted October 26, 2010 Oh yeah. My bank has a coin counter, so I just dump my coins into a bag, and take them in. They count it, and since I know the numbers, I can verify their count. Some banks want the coins to be brought in wrapped, and some will prefer them unwrapped. I usually deposit it a day or so after I have done my route, so the money sits in my apartment for a short while. I have gone a week from service to deposit though. Link to comment Share on other sites More sharing options...
ThankYouComeAgain Posted October 26, 2010 Share Posted October 26, 2010 Tomorrow, at the end of the day, I will take all of the cash out of every machine. There are several machines, and it may be wise for me to begin counting how much total cash and coin comes out of each machine, but for now I do not. I put everything into a money bag that resembles a crown royal bag with the drawstring (I do not drink BTW). I take the coins out of each machine and put them into an empty box that is small. While at the location I begin sorting through each of the coins, having my cash in my pockets or in the money bag and out of plain sight, pulling out the quarters to be put into my change machine (a machine that gives people quarters for cash...it needs to be refilled). I keep all of the other coins in that box. While I am doing this my business partner takes inventory of what I will need to fill each machine - we have a spreadsheet, so we just go down the list and write a number down (example "8" next to the word DORITOS that is already on the spreadsheet). After inventory is taken, We leave with the cash and leftover coins. I come back the next day very early in the morning and fill the machines. Later that day I make a deposit at the bank. I save all of those leftover coins for the end of the month so I can dump them into the machine that counts the coins for me. My bank does not charge me a fee for this coin counter, however, I need to travel to another branch in order to use the coin counter. That's my A-Z. Link to comment Share on other sites More sharing options...
mainor5251 Posted February 3, 2011 Share Posted February 3, 2011 Finally found a Bank today they accepts loose coins, Innovations Federal Credit Union. No more rolling coins, thank god. After collecting from a location, the quarters go in zip lock bags with location name on it, then in between stops coins are weighed and amount entered in log. At the end of the day all loose coins will now be deposited at my soon to be new bank. Link to comment Share on other sites More sharing options...
minivend Posted February 4, 2011 Share Posted February 4, 2011 I've got 500 heads on the street..all Beaver equipment. I have developed a meter system that works only on Beaver Coin Mechs. I go into the location with a Collection Sheet (that i've printed from my computer program I had made) and collect all the heads for that location into 1 bag. During the collection of each head I take the meter reading and write it down next to that asset number on the collection sheet. I take the money back to my office and run it. I then enter the current meter readings into my software program which tells me how much each head has produced. At the end of each week I run my reports: cash report, commission reports, cost of sales report (for each product), and sales tax report (for the non-candy and gum items). I then bulk the coin into bags and take them to the bank. I mail a commission report and check to each location for that week. Bottom line is this: the average time it takes me to Fill, Clean, and Collect a location is approximately 20min. I have some locations with 3 heads and some locations with 35 heads.. My software package is easy to use and can be used with a meter system or with a cash entry for each head. It will be available to the public within the next 30-45 days. Link to comment Share on other sites More sharing options...
mainor5251 Posted February 4, 2011 Share Posted February 4, 2011 When you say meter system, do you mean something like EZcount? Sounds like you got it down though. I will definitely have to refine my collecting and data gathering as I continue to grow. Link to comment Share on other sites More sharing options...
minivend Posted February 4, 2011 Share Posted February 4, 2011 EZ Count isn't accurate..Smart Mech is to cumbersome to use and i'm not willing to put my location information on their website..so I have developed my own meter system..Took us 3 years to refine and a chunk of money but its well worth it. 100% accurate.. Works on ALL beaver coin mechs. $0.25, $0.50, $0.75, and $1.00. Link to comment Share on other sites More sharing options...
alboy88 Posted February 9, 2011 Share Posted February 9, 2011 Still doing my vending research and had a question for all.. when you service your machines, what method or system to you follow to count your earnings? Take the quarters home and count them up? Take them to the bank and let them count and deposit the total? Can anyone walk me through a servicing up to and including the replacement of product and removal and counting of money? Thanks! I HAVE MY OWN COUNTING MACHINES ITS TOO MUCH HASSEL TO GO TO BANK FOR ME COUNTING EQUIPMENT WILL PAY FOR THEMSELVES IN THE LONG RUN I WOULDNT WANT ANYBODY ELSE COUNTING MY MONEY Link to comment Share on other sites More sharing options...
mainor5251 Posted February 24, 2011 Share Posted February 24, 2011 finally opened a business account at a bank that has a coin counter, so I have rolled my last roll. I will check it on my scales to keep up with per location totals then dump all in one bag and deposit. Link to comment Share on other sites More sharing options...
sherlock Posted February 24, 2011 Share Posted February 24, 2011 finally opened a business account at a bank that has a coin counter, so I have rolled my last roll. I will check it on my scales to keep up with per location totals then dump all in one bag and deposit. Good for you mainor. Most credit unions around here have free coin counters in their lobby for their customers/members to use. Other forum members have complained about bank counters regularly shortchanging customers, but the 2 branches I go to are pretty accurate. Like you, I use a coin scale on location and when counting at home. I then go the bank with all the coins in a bag and know pretty much how much their counter should credit me for. I never roll quarters. Link to comment Share on other sites More sharing options...
MrGranger Posted February 24, 2011 Share Posted February 24, 2011 Like you, I use a coin scale on location and when counting at home. I then go the bank with all the coins in a bag and know pretty much how much their counter should credit me for. I never roll quarters. For those that scale quarters, do you just count each lb as $20? Is that always the case, even with the newer quarters? Link to comment Share on other sites More sharing options...
mainor5251 Posted February 24, 2011 Share Posted February 24, 2011 Yeah i count every lb as $20 Link to comment Share on other sites More sharing options...
dperry Posted February 24, 2011 Share Posted February 24, 2011 For those that scale quarters, do you just count each lb as $20? Is that always the case, even with the newer quarters? I count in grams. Quarters weigh 5.67 grams. I got that number by weighing lots and lots of quarters. XXX grams / 5.67 / 4 = total dollars. For instance, 1123 grams = $49.52 1123 / 5.67 = 198.05 quarters 109.05 / 4 = $49.52 dollars. Link to comment Share on other sites More sharing options...
mainor5251 Posted February 24, 2011 Share Posted February 24, 2011 I weigh to the whole pound and the rest i either count (if not too many) or weigh the rest as grams for total Link to comment Share on other sites More sharing options...
havending Posted February 24, 2011 Share Posted February 24, 2011 We use a coin ship process. While out servicing each location is counted using a coin scale. Coin is then put in to a cloth coin bag and zip tied. The van has a drop style safe. Once back in town the coin is run through a elec. coin counter and run in to federal reserve plastic coin bags 1,000 in each bag. When I have 5 or so bags i go to my banks main branch and deposit. Money goes right in to the account. Not all banks are set up to ship coin. so check first before you just show up. Link to comment Share on other sites More sharing options...
JEREMYTINA Posted February 28, 2011 Share Posted February 28, 2011 We count on location, in the location for commission spots and in the car for non commission locations. I use a route sheet I preprint from Vend-Trak, and before I go in the location, I know what key, commssion %, and what product to bring in, along with the monthly averae and last pull for the location. I always know if the location is up or down from the previous pull before I leave and make notes onto my sheet, or on occasion, I even log in from my phone and enter the info. I place all of my change into an atomic fireball container throughout the day in the van, mixed in with other product, but the windows are almost black, and you cannot see in anyway, plus the van is alarmed, and broken glass or an open door will sound the alarm. If necessary, a piece of black 22" threaded pipe will deter the person who tries to make off with my cash. lol. I still enjoy rolling all of the change, and the workout I get carrying it into the bank. Link to comment Share on other sites More sharing options...
mainor5251 Posted February 28, 2011 Share Posted February 28, 2011 If necessary, a piece of black 22" threaded pipe will deter the person who tries to make off with my cash. lol. Does the pipe really need to be threaded Link to comment Share on other sites More sharing options...
JEREMYTINA Posted March 22, 2011 Share Posted March 22, 2011 Never take threaded pipe to a gun fight....never works out too good If my beautiful, better half would allow me to have the 9mm I want, I wouldn't need the pipe. lol Link to comment Share on other sites More sharing options...
Profits Posted March 22, 2011 Share Posted March 22, 2011 Does the pipe really need to be threaded And a pipe sitting in a van isn't exactly threatening. The only person it would be useful to is the one who has it in their hands. I doubt you're carrying a pipe into your locations with you, less you look like a major psycho. Link to comment Share on other sites More sharing options...
Rick Falcon Posted March 23, 2011 Share Posted March 23, 2011 When you guys pay your commission do you pay the location with the quarters you collected or do you carry cash with you to pay for the commission? Link to comment Share on other sites More sharing options...
JEREMYTINA Posted March 23, 2011 Share Posted March 23, 2011 When you guys pay your commission do you pay the location with the quarters you collected or do you carry cash with you to pay for the commission? I carry the pipe in so I don't have to pay the commission.... Link to comment Share on other sites More sharing options...
mainor5251 Posted March 23, 2011 Share Posted March 23, 2011 i pay with quarters, they always tell me they need them Link to comment Share on other sites More sharing options...
will.vend Posted March 23, 2011 Share Posted March 23, 2011 When you guys pay your commission do you pay the location with the quarters you collected or do you carry cash with you to pay for the commission? on most days I roll enough quarters to pay what I estimate my commissions will be for that day, the rest I take home and roll with a machine. I also have a few stops that like to buy several hundred dollars worth at a time, I wont go to the bank on the days Im going to these places Link to comment Share on other sites More sharing options...
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