Payment Modes

Cash Rounding

Many countries have withdrawn low denomination coins over the years. For instance, countries like Australia and Canada have withdrawn their one cent ($0.01) coins in 1992 and 2012 respectively, which means prices for items paid in cash need to be rounded to the nearest multiple of 5 cents ($0.05), which is currently the lowest denomination coin that has legal tender in these countries.

At the same time, most countries where low denomination coins were withdrawn still require non-cash transactions to be calculated to the nearest penny, introducing a dual calculation paradigm where the same item could be sold at different prices depending on whether the item is paid using cash or a payment card.

With Veloce, rounding is configured for each individual payment type. This allows Veloce to conform to any local regulation regarding rounding.

Here is an example of how to configure rounding to the nearest $0.05 increment, which would apply to cash payments in Canada and Australia:

1. Login to the Veloce Back-Office.

Veloce Back-Office Icon

1. Start the Point of Sale Control module.

Point of Sale Control Icon

1. Click on the Invoice menu and select the Payment Modes... option.

Invoice Menu

1. Select the payment mode that is normally used for Cash.

Payment Modes List

1. Make sure that the Rounding check box is ticked and set the rounding value to $0.05.

Rounding Options

1. The drop-down list next to the value is the rounding type. Select Closest to tell Veloce to round up or down to the nearest multiple of $0.05.

Rounding Type List

1. Save your changes.

Save Button

Since non-cash transactions still need to be calculated to the nearest cent ($0.01) in both Canada and Australia, simply make sure that the Rounding checkbox is un-ticked for all payment modes other than cash.