Counting back change is a method used in retail transactions to calculate the amount of change due to a customer. It involves starting with the total amount of the purchase and subtracting the amount of money given by the customer to determine the amount of change that should be returned.
Counting back change is important because it ensures that customers receive the correct amount of change and that businesses do not lose money due to incorrect calculations. Additionally, it is a relatively quick and easy method that can be performed without the use of a calculator.