As some of you may know, Canada has now stopped producing the penny. We need to round up or down all of our cash purchases to the nearest nickel and I was wondering if anyone out there knows of an easy way we can accomplish this.
We were thinking of using a slush payment method to do the rounding, however this requires our reps to have to do the calculations and they just don't have the time pre-show to spend doing this.
Any thoughts?
Hi Michelle,
I wish I had a super awesome answer for you! Sadly, I don't.
Luckily, the penny issue doesn't come up often in our organization. Generally, all of our ticket amounts and most of our fees are already an even amount of some kind and pennies are not required.
We do get a small handful of shows throughout the year that require a percentage based fee though. That's where we will run into the penny problem. Is this similar to the situation you are facing?
I agree with you that the slush payment method would technically work but is not an ideal solution. If fees are the problem, perhaps moving away from percentage based fees and moving towards fixed price fees are the way to go?
If we come up with a great plan of action as we move down this road I will definitely let you know!
Good luck!
Thanks for your reply Beth. Our ticket prices do not include taxes and fees so we face a penny issue on pretty much every order, but of course the only issue will be for our patrons paying in cash at our counters. This of course creates more issues as normally these transactions are time sensitive as they are usually just before show time.
I've contacted a couple of Canadian companies and none of them have any automatic solution either, so I guess we'll be going with the slush MOP to round it up or down.
Could you make the fees editable and manually adjust the fees up or down to account for the penny issue? Or are there ramifications with taxes and the like?