Abstract: A method of compacting a bill from a flat state into a pleated and wound state for position the bill in a cavity of an associated closure includes providing a bill in a substantially flat state and pleating the bill in a first direction to provide a series of substantially similar pleats. The pleated bill is compacted to set the pleats therein and at least partially wound into a generally circular configuration. The wound bill is positioned within the cavity of the associated closure. An apparatus for compacting and winding the bill and positioning the bill in the closure cavity includes a pleating station for pleating the bill in a predetermined configuration and a compacting station for compacting the pleated bill into a compacted state. The apparatus further includes a winding station having a winding member adapted to engage the compacted bill and to wind the bill into a generally circular orientation.