PENNY ROUNDING
The ability for the POS to round the change due to the nearest penny.
Since Canada, New Zealand, Australia, Netherlands, Finland, Sweden, etc. no longer uses pennies.
Example - The change due of 14.68$ would be rounded up to 14.70$. And 14.66$ would be rounded down to 14.65$.
IMPORTANT for accounting : On the end of the day report, a section with ROUNDING ADJUSTMENTS should indicate the amount of loss or gained from this.
Here's a link that would further explain: https://www.mint.ca/store/mint/about-the-mint/phasing-out-the-penny-6900002
Nicolas
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Anonymous commented
Agreed! New Zealand has the lowest denomination of $0.10 therefore any cash payments need to be done using swedish rounding. Can anyone give me idea's on how to work around this as I'm trying to use a percentage markup structure but some of our prices are coming out for example as $14.68. I cannot accept $14.68 cash and would need to round up to $14.70.
How do others work around this?