Canada did away with the penny last year. Now, when a customer buys a product and pays for it with cash, retailers round the change returned up or down to the nearest nickel.
For example, if a customer purchases something that comes out to $9.83 after tax and gives us $10 in cash, we hand them back $0.15 in change. If it cost $9.82, we'd hand them back $0.20.
Unfortunately, CC's POS system doesn't realize we're doing this when we make a cash sale and at the end of the day when we balance our till, the amount we actually took in vs. the amount CC says we took is is usually off (how much depends on how many cash sales vs. card sales we made that day), which can make accounting more tricky.
I'd love it if CC's POS could automatically round the total price (after tax) of a CASH sale so that when we print a daily financial report it would show a more accurate total.
The only major problem I'd foresee doing something like this would be when a customer wants to split a payment between card and cash, though those sorts of transactions happen very infrequently.
Again, this wouldn't need to be implemented for Debit/Credit card sales as for those transactions we don't round the price to the nearest nickel.
Our POS supports this and we started doing it in the WA two years ago. We round all cash purchases to the nearest nickel. Haven't had any customers complain about it.
Attachments Open full size
This would be great for us Canadian users!
Attachments Open full size