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:
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