The United States penny has gone the way of the Dodo - and you may be wondering how to deal with cash transactions that would normally require pennies for exact change.
Fear not, you can easily set cash transactions to round to the nearest 5¢ with just a few clicks.
Enable setting and select rounding method.
The rounding feature has a few options - you can choose to have
No rounding - (default)
Round Down - Amounts ending in 1,2,3,4 round down to 0 - Amounts ending in 6,7,8,9 round down to 5
Round Up - Amounts ending in 1,2,3,4 round up to 5 - Amounts ending in 6,7,8,9 round up to 0
Normal Rounding - Amounts ending in 1,2,6,7 round down to nearest 5¢ - Amounts ending in 3,4,8,9 round up to nearest 5¢
These settings can be enabled on either a store level using store settings (stores > Overview > settings)
Or admins can use bulk settings (Admin > Settings > POS settings) to adjust the setting for multiple stores at once.
Point of sale behavior
Accounting
Cash rounding does not effect gross or net sales. The special product used to achieve the rounding is ignored in these calculations.
Accounting reports will show the net amount of cash rounding (which may be positive or negative) in the top summary section.
If you are using the compeat export, cash rounding is given its own line item to help balance payments against sales. This may be recorded as either a debit or credit depending on if the net amount was positive or negative.