Rounding Cash Transactions in Canada

Estimated reading time: 1 min

Introduction

In some regions, like Canada, pennies have been deprecated. In those regions, when customers pay in cash, ChargeLogic Retail can round the transaction amount to the next largest available denomination, which is usually a nickel.

Define Currency Denominations

ChargeLogic Retail allows you to define which currency denominations are available. To enable the rounding feature, you simply need to remove the smallest denomination (i.e., the penny).

First, open the Currency Denomination list from the EFT Setup Card.

From the Currency Denominations list, select the record that represents pennies for the desired currency.

Delete the record to enable rounding to the next largest available denomination.

Configure a Rounding Account

From the Accounting tab on the EFT Store Card, you must now configure an account to which the rounding amounts will be posted. For example, on a sale for $20.02, $20.00 will be taken in cash and $0.02 will be posted to the specified Rounding Account.

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