Remove the water tubes, (in ground winter cover), anchors (in ground safety cover)or cable and winch (above ground winter cover). You can empty the water from the water tubes into the pool before placing them in a trash bag or container for storage. *For safety covers you will want to use the anchor key to put the anchors down so that no one trips over them during the cover removal.
Starting from one end of the pool, have a person on each side of the pool grab the cover and walk it towards the opposite end of the pool. Repeat this process until the cover is folded on one end of the pool. It doesn't need to be neat at this point as you will need to unfold it before putting it away.
Place the cover in an area where it can be opened and allowed to air dry. You can opt to use towels if you need to speed up this process.
Once the cover is dry enough, sprinkle some baking soda on the cover to help prevent mold and mildew. You can now fold the cover using the same process as above until it is small enough to fit inside of a large trash bag or container for storage.