dslreports logo
site
 
    All Forums Hot Topics Gallery
spc

spacer




how-to block ads


Search Topic:
uniqs
792
share rss forum feed


dirtyjeffer
Anons on ignore, but not due to fear.
Premium
join:2002-02-21
London, ON
reply to IamGimli

Re: Death of the dumb prices at Walmart

it is possible they may have an "adder" like this:

Sub Total: $85.53
Cash Rounding : $00.02
Cash Total: $85.55

or

Sub Total: $85.52
Cash Rounding: -$00.02
Cash Total: $85.50

the "Cash Rounding" line would have its own ledger in the accounting part of the program.
--
People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

- George Orwell



Gone
Premium
join:2011-01-24
Fort Erie, ON
kudos:4
reply to ekster

said by ekster:

The rounding should only happen if you use cash afterwards.

... that's exactly how it will happen.


nitzguy
Premium
join:2002-07-11
Sudbury, ON
reply to Sukunai

I have a question, if you're out now, how do you reconcile?

I mean, we are human, we make mistakes, lets say a penny slips and doesn't make it in to the register and at the end of the day you're out a penny, how do you manage that now?

I'm just curious...at work, I just have this magical thing called a "Variance Slip" that makes me magically balance lol.



EUS
Kill cancer
Premium
join:2002-09-10
canada
Reviews:
·voip.ms
reply to ekster

said by ekster:

They should still be showing the actual total in case you use a credit/debit card. The rounding should only happen if you use cash afterwards.

And only if you do not have exact change.
--
~ Project Hope ~


Gone
Premium
join:2011-01-24
Fort Erie, ON
kudos:4
reply to nitzguy

said by nitzguy:

I mean, we are human, we make mistakes, lets say a penny slips and doesn't make it in to the register and at the end of the day you're out a penny, how do you manage that now?

You try and find out what the error was and fix it. If you can't, you make an adjusting entry.

dragonfly

join:2012-09-04
reply to Sukunai

We should have tax built-into our prices, like they do in the rest of the world. End this silliness.



urbanriot
Premium
join:2004-10-18
Canada
kudos:3

... what?



nitzguy
Premium
join:2002-07-11
Sudbury, ON
reply to Gone

said by Gone:

said by nitzguy:

I mean, we are human, we make mistakes, lets say a penny slips and doesn't make it in to the register and at the end of the day you're out a penny, how do you manage that now?

You try and find out what the error was and fix it. If you can't, you make an adjusting entry.

...I should have known that....I've been out of the accounting practice loop for way too long....thanks for the tip o' the day!


nitzguy
Premium
join:2002-07-11
Sudbury, ON
reply to dragonfly

said by dragonfly:

We should have tax built-into our prices, like they do in the rest of the world. End this silliness.

We could have the GST built into the price....companies choose not to. You know why? Optics. Walmart wants to sell you that shoe for $9.97...that's their price, they want you to know that its the government that's stealing the other 49ish cents for GST (@ 5%, not every province is subject to HST so I'm just keeping things easy math wise).

Its in the legislation, take a look.


urbanriot
Premium
join:2004-10-18
Canada
kudos:3
Reviews:
·Cogeco Cable

Ah, I see what he's suggesting, that the price of tax is invisible to the consumer but visible for everyone else, like manufacturing, distribution, resellers, etc.

No, I think I'd rather the amount of money that the government collects, in addition to corporate and income taxes, is visible to me and everyone else.



Gone
Premium
join:2011-01-24
Fort Erie, ON
kudos:4

said by urbanriot:

Ah, I see what he's suggesting, that the price of tax is invisible to the consumer but visible for everyone else, like manufacturing, distribution, resellers, etc.

When one understands how the mechanism surrounding input tax credits works with GST/HST, and that *everything* purchased by a business with a GST/HST account is an input tax credit - including even the toilet paper for the bathroom - one should also understand that the tax needs to be visible so you can reconcile the credits and ensure that what you are claiming for the refundable portion is correct.

mr weather
Premium
join:2002-02-27
Mississauga, ON
reply to Sukunai

Do like they do in Australia: prices are shown taxes-in but the receipt breaks out the taxes from the total.
--
"It's all coming down!!" - Mike Holmes



dirtyjeffer
Anons on ignore, but not due to fear.
Premium
join:2002-02-21
London, ON
reply to Gone

said by Gone:

said by nitzguy:

I mean, we are human, we make mistakes, lets say a penny slips and doesn't make it in to the register and at the end of the day you're out a penny, how do you manage that now?

You try and find out what the error was and fix it. If you can't, you make an adjusting entry.

everywhere i worked, you were either "over" or "short", meaning you deposited more or less than what you were supposed to...it was quite common to be out a little bit over the course of a day (grabbing a quarter instead of a nickel by accident)...in the end, when you reconcile your "monies", you might be out $2 at the end of the month, which just comes out of your profit...it is a minuscule amount...of course, if you are out a lot (over/short), then you dig a little further to see what is going on...for example, if you are short $28.25, you look for entries for $25 (plus tax)...you will often find that a sale was processed incorrectly at which point you could then correct it to balance the books...if it was discovered the next day, you can correct it that day and be over $28.25, which would negate the previous day's shortage...any person working in retail works with over/short all the time.
--
People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

- George Orwell


dirtyjeffer
Anons on ignore, but not due to fear.
Premium
join:2002-02-21
London, ON
reply to mr weather

said by mr weather:

Do like they do in Australia: prices are shown taxes-in but the receipt breaks out the taxes from the total.

so what if you get a First Nations person shopping in your store??

mr weather
Premium
join:2002-02-27
Mississauga, ON

said by dirtyjeffer:

said by mr weather:

Do like they do in Australia: prices are shown taxes-in but the receipt breaks out the taxes from the total.

so what if you get a First Nations person shopping in your store??

Apply the tax rebate at the point of sale.
--
"It's all coming down!!" - Mike Holmes


dirtyjeffer
Anons on ignore, but not due to fear.
Premium
join:2002-02-21
London, ON

that is how it is done now.



digitalfutur
Sees More Than Shown
Premium
join:2000-07-15
BurlingtonON
kudos:2
reply to Sukunai

Go cashless and get cash back on your credit card just for using it. It's the closest thing there is to a free lunch.