In simplifying cash takings (for both the buyer & seller), ERP Go can eliminate pennies/ cents all together from sales total for cash payments with the option to round UP, DOWN or to the NEAREST rounding increment.
Rounding Examples
With reference to the below image, a sales total of 143.36 was applied to 5 different rounding increments with the results shown for each rounding rule.
Example 1: If Cash Rounding Increment is 0.10...
Choosing to round DOWN, will round 143.36 down to 143.30
Choosing to round UP, will round 143.36 up to 143.40
Choosing to round NEAREST, will round it to either DOWN or UP Amt depending on which one is closest, which in this case is 143.40
Example 2: If Cash Rounding Increment is 0.05...
Choosing to round DOWN will round 143.36 down to 143.35
Choosing to round UP will round 143.36 up to 143.40
Choosing to round NEAREST, will round it to either DOWN or UP Amt depending on which one is closest, which in this case is 143.35
Example 3: If Cash Rounding Increment is 0.15...
Choosing to round DOWN will round 143.36 down to 143.25
Choosing to round UP will round 143.36 up to 143.40
Choosing to round NEAREST, will round it to either DOWN or UP Amt depending on which one is closest, which in this case is 143.40
Example 4: If Cash Rounding Increment is 0.20...
Choosing to round DOWN will round 143.36 down to 143.20
Choosing to round UP will round 143.36 up to 143.40
Choosing to round NEAREST, will round it to either DOWN or UP Amt depending on which one is closest, which in this case is 143.40
Example 5: If Cash Rounding Increment is 0.50...
Choosing to round DOWN will round 143.36 down to 143.00
Choosing to round UP will round 143.36 up to 143.50
Choosing to round NEAREST, will round it to either DOWN or UP Amt depending on which one is closest, which in this case is 143.50
Setup
Step 1 - In order to use Cash Rounding, go to Company Details, select a Depot, click on the Edit Depot button and configure as follow:
A | Under the Accounting tab, enable Use Cash Rounding |
B | Specify the rounding amount in the Cash Rounding Increment field |
C | Specify Rounding rule (method) |
Step 2 - Click on Update Depot
Take Payment
With reference to the below image, for cash rounding to apply, the payment method (A) will need to be Cash. It can be seen the sales total of 143.35 (B) is rounded down to 143.30 (C) based on example 1 settings.
