Rounding of cash payments – new from July 2022

Rounding-of-cash-payments

From 1 July 2022, we have a new obligation to round cents for cash payments to 5 euro cents. I have prepared for you a brief summary of the rounding rules under the Act.

 

How to get to grips with rounding?

Only the final price of a purchase paid in cash is rounded up. At the same time, the 1 and 2 cent coins remain in circulation as valid tender, so you can pay with them and they can also be issued to you. Non-cash payments are not rounded.

Examples of rounding for cash payment:

Price in EUR BEFORE rounding 1,01 1,02 1,03 1,04 1,05 1,06 1,07 1,08 1,09
Price in EUR AFTER rounding 1,00 1,00 1,05 1,05 1,05 1,05 1,05 1,10 1,10

Payments of EUR 0.01 and EUR 0.02 must be rounded to the nearest EUR 0.05.

 

Can I pay part of the payment in cash and the rest cashless?

Yeah. You can also pay with a combination of payments, such as cash and credit card or meal vouchers. Only the part of the payment that is paid in cash is rounded up.

 

Can I choose to pay cash on delivery rather than cashless?

Yeah. In this situation, the courier will accept a rounded cash payment from the customer based on the change of COD payment method from non-cash to cash . He shall indicate the change of payment method with the rounded amount on the receipt which he hands over to the dealer. By signing the receipt, the customer confirms that he has paid in cash. The courier will hand over the rounded amount paid in cash to the seller. Confirmation of the amount paid by the customer (by signature on the receipt) constitutes an accounting entry in accordance with the Accounting Act.

 

Does rounding apply to all cash transactions?

No. The above rounding rules do not apply to the return of goods and payment on return of such goods. Similarly, rounding does not apply to the payment of wages, reimbursement for travel orders, fines, penalties, interest, international postal tariffs according to special regulations.

For more details on this topic, see for example www.mfsr.sk or in Act No. 457/2021 Z. z., which amends Act of the National Council of the Slovak Republic No. 18/1996 Z. z. on prices, as amended.

 

How to deal with rounding in WooCommerce?

For WooCommerce, the Czech company Toret offers a solution, for example, which has prepared a plugin
Order rounding

This plugin guarantees compatibility with WooCommerce 4.3. and higher and is also fully compatible with other Toret plugins. The detailed documentation makes it quick and easy to set up and navigate its functions.

It is available in Czech, Slovak and English versions. It supports multiple currencies and you can also choose the countries for which it will round.

With this plugin, you can create a virtually unlimited number of order rounding rules.

 

buy plugin Order Rounding

 

If you have a link to SuperFaktura in your shop, you can
round up cash payments to 5 cents
can also be solved via it.

 

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