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Setting Up Automatic Penny Adjustment (Canada Only)

Since February 4th, 2013, the Royal Canadian Mint stopped producing pennies and the Canadian government has encouraged businesses to round all cash transactions to the nearest nickel.

These instructions show you how to configure EPASS to do this for you automatically during payment. Once setup is complete, EPASS will round invoice payment lines or AR Payment lines to the nearest nickel.

Set Up​

To set up automatic penny adjustments, you'll need to:

  • Add a penny adjustment Misc code.
  • Add the Misc code to the Invoicing Variables.
  • Activate the penny adjustment on cash Payment Types.

Adding a Penny Adjustment Misc Code​

  1. Go to Tools > System Maintenance. On the Tables tab, click Miscellaneous, and then click Open.

  2. Click Add. The Add Misc Charge window opens.

  3. In the Code field, enter PENNYADJUSTMENT. In the Description field enter CDN Penny Adjustment or something similar.

  4. Enter the G/L Revenue code.

  5. Click OK to close the Add Misc Charge window.

Adding the Misc Code to Invoicing Variables​

  1. Go to Tools > System Maintenance. Click the Variables tab, click Invoicing, and then click Open.

  2. On the General tab, in the Penny Adjustment Misc Code dropdown, select the PENNYADJUSTMENT code.

  3. Click OK to close the Invoicing Variables window.

Selecting Penny Adjustment on Payment Types​

  1. Go to Tools > System Maintenance. On the Tables tab, click Payment Type, and then click Open.

  2. Select your cash Payment Type from the list, and then click Edit.

  3. On the Settings tab, select the Make Penny Adjustment checkbox.

  4. Click OK to close the Edit Payment Type window.

  5. If necessary, repeat steps 2–4 for additional cash Payment Types.

Finishing Up​

Restart EPASS for the settings to take effect. Now when a payment line is added to an invoice or AR Payment using the cash Payment Types, EPASS will automatically round the amount to the nearest nickel.

Example

In this example, when a cheque Payment Type is used, the invoice total ends in .61 cents. When the cash Payment Type is used, EPASS automatically rounds the invoice total to .60 cents.

See Also​