Overview
You can choose to have Redpoint HQ's POS cash transactions round the "Change" to the nearest nickel if your business no longer accepts pennies ($0.01).
How it works
If the total for the transaction is $19.49, and the staff member has entered a tendered amount of $20.00. If the business calculated change to the exact cent, the customer would receive $0.51. However, because this organization uses nickel rounding, the system prompts the staff member to return $0.50 instead.
The difference in the transaction total ($19.49) and the collected total ($19.50) will be reflected in a $0.01 overage (tracked by the "Reconciliation Adjustment") for that register in the next Reconciliation.
If the nearest nickel rounds down then the reconciliation would reflect a shortage.
This configuration will not modify the amount of tax collected or the price
for
products sold. The only change it makes is to modify the amount of change
your
staff are prompted to give for cash transactions.
The invoice and payment recorded in Redpoint HQ will reflect the exact amounts
of the transaction, change rounding is not reflected.
Setup Instructions
- Manage > Organization & Facility Settings
- Localization: Currency, Date, and Time Formats
- Edit
- Enable "Round Change to Nickel" toggle
Save
Examples
In the screenshot below, the organization has enabled "Round Change to Nickel". The total for the transaction is $19.49, and the staff member has entered a tendered amount of $20.00. If the business calculated change to the exact cent, the customer would receive $0.51. However, because this organization uses nickel rounding, the system prompts the staff member to return $0.50 instead.
In this screenshot the total for the transaction is $3.52, and the staff member has entered a tendered amount of $5.00. If the business calculated change to the exact cent, the customer would receive $1.48. However, because this organization uses nickel rounding, the system prompts the staff member to return $1.50 instead.