Micro Adjustments to Cash Sales

Cadzow 2000 12.09.006 introduces a new feature which allows rounding adjustments to cash sales.

This feature is not available by default, please contact us to determine if it is suitable in your environment.

In a high-volume cash/retail environment, it is common to round invoices to the nearest 5 cents. However, if the customer pays with EFTPOS or a credit card, the rounding is not necessary. Cadzow 2000 handles the rounding automatically, but relies on the operator selecting the correct payment method. If cash, the invoice will be rounded; otherwise it is not rounded.

If operators have made numerous errors, this can be very difficult and time-consuming to manually fix, as it requires reversing the invoice, reversing the receipt, and re-entering both.

The micro-adjustment feature allows the invoice and receipt to be adjusted in one quick operation.

Note that this feature cannot be used on entries which have been exported to the General Ledger, but can be used for entries already included in a Business Activity Statement (BAS). This is because the General Ledger must be accurate to the cent but the BAS, when submitted, contains numerous roundings anyway, and the GST paid to the ATO is frequently inaccurate to the tune of up to a dollar. So the addition of a few cents to older transactions should not represent a issue. However, the rounding adjustments added using this method will be classified as non-GST items so for auditing purposes they will be revealed by reprinting the BAS reports for previous BAS periods.

The procedure is:

1. Use Accounts Receivable, Enquiries — Transactions to search for the invoice(s) in question.

2. Double-click the invoice to open it.

3. Click the Micro Adjustment tab. (This tab only appears if the Micro Adjustment feature is available in your system.)

   The screen shows the Current Total of the invoice, the proposed adjustment and the New Total. The proposed adjustment is based on the rounding value that would have been applied if the invoice was rounded in the first place.

4. If the rounding adjustment shown is correct, click Proceed with Adjustment.

   If no adjustment is to be made (ie. the invoice is already rounded to the nearest 5 cents), the system displays, “STOP! This invoice has already been rounded”.

   If the invoice has already been exported to the General Ledger, the system displays, “This entry has been exported to the General Ledger and cannot be modified”. (In this situation you will need to credit the invoice, reverse the receipt and re-post both.)

   If the invoice has not been paid, the system displays, “This feature is for paid sales only”. (In this situation, credit the invoice and re-post or issue a new invoice or credit note with only the rounding value.)

   Otherwise, the system prompts: “Are you sure you want to apply a rounding adjustment to this invoice and matching receipt?”

   Choose Yes to continue or No to cancel.

   Upon choosing Yes, an additional line item will be added to the invoice (using the standard “Rounding” stock code), containing the value of the rounding. The receipt will be adjusted with the new value also.