2 questions about verifying income

[Boazcat]

1.)  I have some combo machines that have a coin changer attached to the machine.  At a couple of the locations all the change that is used to purchase product is put back into the coin changer to replace what was dispensed.  So...  I'm really only "pulling" the bills.  How does calculate in sales?

2.)  When selling an account, how do you "verify" you pulls from location?

Thanks,

Michael

[Sparta_Automation]

You should be able to get a total sales report from the vending machine itself.  Everyone that I know of....even the older ones can at least give you the total sales for that machine.  If you take a reading at the beginning of the week or month, and then again at the end of the week or month....the difference between those two values would be the sales for that period.

Travis

[NinnJinn]

What I would do if I had machines like that is, I would fill the change machine to max capacity. then when you do your route/pull,  I would top off the change machine from the vending machine, then take the rest of the change and the bills home to count and then you have your gross income.

Or just keep track of the product you restocked and the prices of each and there you go.

With have a machine that accepts change only, and a change machine on the side is, some people will use their own change so there for you would be shorting yourself by just counting the bills.

As far as selling an account, its a trust thing IMO.  Basically you just look at the sellers logs.  but anyone can do a fake log in a matter of minutes.  If you were buying the whole route, I guess you could look at the tax reporting,  but good luck on finding a seller that will let you have access to his/her tax records.

[ANDERSONVENDING]

If they're mechanical machines then all you can do is count the money taken out of the machine before putting it in the changer and keep a log of it.

John

[mission vending]

If they're mechanical machines then all you can do is count the money taken out of the machine before putting it in the changer and keep a log of it.

John

A mechanical setup will be very difficult to audit due to the lack of electronic meters. Tracking the inventory put in vs. the sale price will give you that info but that will be a lot of work for a low volume account.

[WillisNYC]

In my experience with a purchase of 85 placed machines, the seller guaranteed the income would produce within 90% of the machine readings taken from these machines over the past year.  If the gross falls below those guarantees, the sale price is adjusted.    The seller produced the machine readings from each machine for the last year, taken weekly or however often that he serviced the machines.    After 7 weeks of servicing these machines, the gross sales are 104% of the reported total for the past year. 

The seller never counted the collection money on site, he only took the machine reading and put the money in a bag.  When he got home, he compared the previous machine readings  with his current ones to get his gross sales per machine.  He totalled his gross sales and made sure it matched the money collected that day.  Using the same method for 7 weeks, I have yet to be off more than $20 per $1000 collected.    That would be a 2% error rate which could easily be attributed to  the amount of coins in the coin mech.  If I were truly anal I would top off each coin mech upon collection in order to get the error rate to under 1%.  Alas, I am not that anal and I don't see the purpose served unless I had hired someone to service the route for me and I wanted to verify that he was not 'cheating' on the count!