Does RICS POS have a solution to round to the nearest $0.05?

Yes, you can find instructions for enabling this feature in our Cash Rounding help center article. 

Is this a difficult feature to implement and how do I implement it into my store?

Enabling Cash Rounding is simple! After you enable the Cash Rounding feature in the RICS Back Office, your POS will automatically round to the nearest $0.05 when a Cash Tender is used. Your POS will not round non-cash tenders. Your opening and closing batch procedures will remain the same. You will see a new 'Cash Rounding' line item in your 'Cash Totals' tab on the Close Batch screen with the automatically calculated Cash Rounding total. 

Is there anything I need to do within my financial software to accommodate the Cash Rounding feature?

If you are using the QuickBooks integration with RICS, you will need to map the Cash Rounding tender to an account in QuickBooks. You can do this in the Back Office using the following steps:

1. Navigate to Setup :: Manage Store :: QuickBooks Setup
2. Click LookUp and select the Store Owner number
3. Select 'Online' from the QuickBooks Edition tab
4. Click 'Accounts'
5. Find 'Cash Rounding' in the 'Tender Type / Account' box 
6. Select an Account to map to Cash Rounding
7. Click 'Save'

If you do not use the QuickBooks integration, please consult your accountant or bookkeeper to determine the best way to handle this feature with your financials.

How does the Cash Rounding Feature Work?

When a customer pays with cash, the POS rounds the final total (after tax) to the nearest $0.05 to avoid handling pennies.

The rounding is only applied to cash payments. Credit Card, Gift Card, Check, and digital payments still charge the exact total.

The POS automatically calculates and displays the rounded amount, so your staff doesn't need to do any math, just collect the rounded total shown on the screen.

How can I report on my Cash Rounding totals?

To report on your cash rounding totals, you can use the following steps:

1. In the RICS Back Office, go to Reporting :: Report Creator :: POS
2. Select the Store Analysis Report
3. Enter the dates for the sales period you wish to report on
4. Click 'Run'

The Cash Rounding total will be found in the Tender Breakdown section of the report. 

I use the RICS>Checkout app, does this feature also exist in the app?

Yes, to enable cash rounding in the RICS>Checkout app you can use the following steps:

1. Navigate to portal.rics.io
2. Login to the portal
3. Click 'Settings'
4. Click 'Payment Details'
5. In the 'Rounding Rules' section select 'Round Nearest 5¢'
6. Click 'Save Changes'