Re: Pennies

Hi Jigme, Bob,

In the Netherlands we haven't had cents (0.01 EUR) in cash payments for a looong time (although some other EUR countries do). So, I'm sympathetic with your question.

However, it does raise some other questions:

1. What happens if you send your invoice to your customers and they pay by wire transfer? Does the 0.01 amount get rounded too? In other words, is this cash related only?

2. Does each line itself get rounded? In the NL, only the actual paid amount gets rounded (by the cashier): the printed "invoice" states the unrounded amount.

3. To prevent cash deficits or surplusses, I would expect the difference between the unrounded amount and the cash-payable amount to be posted somewhere. Do you have a GL account to post these differences to?

Regards,

Erik.

On Sun, Aug 9, 2015 at 9:33 AM, Jigme Datse Yli-Rasku <..hidden..> wrote:

This is of interest to me here in Canada. In Canada (and in Australia I
think) there is no penny any more. The issue that commonly comes up for
some businesses is no matter how carefully you set your prices, unless
you do a "tax included" setting of prices, you risk that things will not
balance out.

Further, with any sales which are *not* cash, you are not *supposed* to
use any form of rounding.

So I see that this is something that might be a future issue for a
number of countries as with the elimination of the "smallest coin",
potentially repeatedly.

If Canada were to get rid of the nickel, but *not* the dime ($0.05, and
$0.10) respectively, rounding becomes really difficult, you can't give
$0.05, or $0.15 change, but can give $0.10, $0.20, $0.25, $0.30, $0.35,
$0.40, $0.45, $0.50, $0.55, $0.60, $0.65, $0.70, $0.75, $0.80, $0.85,
$0.90, $0.95... That is only to the pennies.

The problem with this also is, to create some of these changes, you need
to figure out what combination of coins to use.

The previous system with the penny was not a problem, and eliminating
it, really doesn't make a huge difference in how things work.

They would be unwise to not eliminate both the nickel and the dime at
the same time.

Our government is not known to be wise.

Jigme Datse Yli-Rasku

On 15/08/06 16:15 , Bob Crandell wrote:
> I don't know what a spql is.
> I was hoping there was a setting on the System/Defaults screen that
> would set "Decimal Places for Money" that worked on the Item Price field
> like it does on the Extended Price field.
> I guess setting the Sell Price will work for now. If somebody would
> make that adjustment it would save my girls a little bit of typing.
> Thanks and this is a great program.
> Bob
>
>
> >>> "R. Ransbottom" <..hidden..> 8/6/2015 12:05 PM >>>
> On Thu, Aug 06, 2015 at 08:31:22AM -0700, Bob Crandell wrote:
>
> > We don't do pennies so I'm trying to figure out how to either
> > truncate the dollar amount or round up so that $74.29
> > shows up on an invoice or receipt as either $74.00 or $75.00.
> > I don't care which.
>
> > How do I make the pennies go away when I sell something?
>
> You could use psql to execute something like:
>
> update parts set sellprice=round(sellprice);
>
> (or trunc()) to set all your prices as you like.
>
> After that, if necessary, you could add a sql trigger that would
> round the sellprice on an update or insertion to parts.
>
> This should set your default prices in invoice forms and such, but
> would probably allow users to enter decimals if they so choose. Which
> sounds "good enough" because the direction of useless effort is
> reversed.
>
> Be warned: I'm just a beginner here.
>
> Rob
>
>
> ------------------------------------------------------------------------------
> _______________________________________________
> Ledger-smb-users mailing list
> ..hidden..
> https://lists.sourceforge.net/lists/listinfo/ledger-smb-users
>
>
> ------------------------------------------------------------------------------
>
>
>
> _______________________________________________
> Ledger-smb-users mailing list
> ..hidden..
> https://lists.sourceforge.net/lists/listinfo/ledger-smb-users
>

--
Datse Multimedia Productions
http://DatseMultimedia.com/
Tel: 250-362-5701
Mobile: 250-354-7094

------------------------------------------------------------------------------
_______________________________________________
Ledger-smb-devel mailing list
..hidden..
https://lists.sourceforge.net/lists/listinfo/ledger-smb-devel

Bye,

Erik.

http://efficito.com -- Hosted accounting and ERP.

Robust and Flexible. No vendor lock-in.