Reviews:
 ·Cogeco Cable
| reply to dirtyjeffer
Re: Death of the dumb prices at Walmart said by dirtyjeffer:i really don't know why so many people are making a big deal about this...it really is a non-issue.
How do you get your bank recs to match? |
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 dirtyjefferAnons on ignore, but not due to fear.Premium
join:2002-02-21
London, ON | said by urbanriot:said by dirtyjeffer:i really don't know why so many people are making a big deal about this...it really is a non-issue.
How do you get your bank recs to match? ?
the till says "1.05", money received (i paid) is $1.05...everything matches.
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People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.
- George Orwell |
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| ... and when the till says $1.01, $1.02, $1.03, $1.04, $1.06, etc., ? |
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dirtyjefferAnons on ignore, but not due to fear.Premium
join:2002-02-21
London, ON | the till never says that...if the price works out to that, the till shows the adjusted amount, and that is what is collected.
if you question is how that works on the back end, i am not sure, but i am sure there is some sort of algorithm adjustment done. |
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 donoreoPremium
join:2002-05-30
North York, ON | said by dirtyjeffer:if you question is how that works on the back end, i am not sure, but i am sure there is some sort of algorithm adjustment done.
You mean, math?  |
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 SteveI know your IP addressConsultant
join:2001-03-10
Yorba Linda, CA
kudos:5 | reply to urbanriot
said by urbanriot:How do you get your bank recs to match? Only non-cash transactions have anything to do with a bank reconciliation, which don't have the rounding issues that cash does. |
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Reviews:
·Cogeco Cable
| reply to dirtyjeffer
said by dirtyjeffer:the till never says that...if the price works out to that, the till shows the adjusted amount, and that is what is collected.
?! Did the Canadian government release a cash register patch for every cash register in existence and every single custom software package in Canada that changes the money requested? |
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donoreoPremium
join:2002-05-30
North York, ON | said by urbanriot:said by dirtyjeffer:the till never says that...if the price works out to that, the till shows the adjusted amount, and that is what is collected.
?! Did the Canadian government release a cash register patch for every cash register in existence and every single custom software package in Canada that changes the money requested? Business will get them patched, if you select cash as pay type it will round up or down.
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The irony of common sense, it is not that common.
I cannot deny anything I did not say.
A kitten dies every time someone uses "then" and "than" incorrectly.
I mock people who give their children odd spelling of names. |
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Reviews:
·Cogeco Cable
| said by donoreo:Business will get them patched, if you select cash as pay type it will round up or down.
Exactly. And this is in response to dirtyjeffer's comment concerning why people are concerned about this. That and custom software for sites with inventory controls that are rather significant in scope and size.
From the small businesses to the large businesses with legacy software, bank recs are a bit of a concern in terms of being out of pennies and companies are still trying to cope with how to comply.
Plenty of people don't have the option to make the adjustment in their software to round in any direction. (We do in ours) |
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dirtyjefferAnons on ignore, but not due to fear.Premium
join:2002-02-21
London, ON | they have had a year to plan for the change...i would imagine if their POS didn't already include such a provision, it shouldn't be that big of a deal to get one. |
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| reply to urbanriot
said by urbanriot:From the small businesses to the large businesses with legacy software, bank recs are a bit of a concern in terms of being out of pennies and companies are still trying to cope with how to comply.
Plenty of people don't have the option to make the adjustment in their software to round in any direction. (We do in ours)
I'd much rather cash registers DIDN'T round off what they display as those that do can have the rounding rules changed by the retailer and I would want to know if a retailer is fleecing me by always rounding up. |
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 eksterHi there.
join:2010-07-16
Lachine, QC
kudos:1 | 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. |
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 GonePremium
join:2011-01-24
Fort Erie, ON
kudos:3
 ·Start Communicat..
| reply to urbanriot
said by urbanriot:How do you get your bank recs to match? A separate over/under account for posting rounded amounts is what the accountant told us to do, that way the actual rounded amount is the only thing that appears in the GL for the bank account to reconcile with the physical bank account. If the software doesn't do it automatically, you should be able to do this manually in your accounting package when entering a sales or purchase invoice. Since this only applies to cash transactions it shouldn't happen nearly as often as one would assume.
I would expect that should you accept cash payments your accountant will recommend that you do something similar. If rounding works as well as one would hope, the over/under account should be at or very near 0 by year end. |
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dirtyjefferAnons on ignore, but not due to fear.Premium
join:2002-02-21
London, ON | reply to IamGimli
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.
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People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.
- George Orwell |
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GonePremium
join:2011-01-24
Fort Erie, ON
kudos:3 Reviews:
·Start Communicat..
| reply to ekster
said by ekster:The rounding should only happen if you use cash afterwards. ... that's exactly how it will happen. |
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 EUSKill cancerPremium
join:2002-09-10
canada
 ·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.
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~ Project Hope ~ |
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