How to Work with Cash Rounding
When the cash rounding is applied, the amount payable for a cash transaction is rounded to the nearest rounding interval with specified rounding rule, whereas transactions paid in other ways are not rounded.
Cash rounding can be used in countries where coins are withdrawn from circulation. Also in some countries, rounding is allowed at the discretion of the merchant (for example, if the merchant wants to reduce the amount of small change in revenue). Rounding does not affect the amount of taxes.
Log in to the Back Office, click the Settings menu and then Payment types. Click the Cash type of payment.
The form ‘Edit payment type’ will open for editing.
You can select the rounding interval from the drop-down list. For countries with decimal currency: 0.01, 0.05, 0.10, 0.50, 1.00 . For countries without decimals: 1, 5, 10, 50, 100.
If you set a value other than the default value of 0.01 (or 1 for countries without decimals), you can select the ‘Rounding rule’ from the drop-down list. In other words, you cannot select a rounding rule if you select a rounding interval of 0.01 or 1.
By default, the rule ‘Round to the nearest value (average value up)’ is selected, but you can also choose:
- Round to the nearest value (average value down)
- Always round up
- Always round down
You will see the explanation of how the selected rounding rule works.
Don’t forget to save the setting.
Now during the sale at the POS, you can see the rounded amount in the ‘Cash received’ field.
If you enter the value of the received amount of cash and tap ‘Charge’, you will see the change in the next screen with the consideration of rounding.
The receipt contains information about rounding.
You will also see the information about rounding in the Sales by Payment Type report in the Back Office.