Rounding prices to 5 cents.
At the end of last month The Central Bank of Ireland adapted price rounding policy. The phasing out of the one and two cent coins means that the five cent coin is now Ireland’s smallest unit of exchange. Retailers are still be able to price goods at 99 cents or €1.99, for example, but will only give cash change to the nearest five cents.
This is a quick guide showing you how to round prices to the nearest 5 cents in your RMS.
NOTE: We strongly suggest to backup the database before you attempt any changes!
In the Store Operations Manager click Inventory icon (pointed by the arrow).
When asked to choose inventory task from the drop-down list pick:
Task 110: Change Item Prices. Click Next.
Select All departments and click Next
On the next screen set Price to be changed: Regular
Set the price range from €0.00 up to over your most expensive item in stock.
Tick the box marked by the arrow and set price a multiple of €0.05.
Round to nearest (up or down also possible). Next.
Now you will see the list of all your items – compare old and new price, once you are happy with the result click Commit, then Yes to confirm.
Note: the highlighted prices are rounded to nearest 5 cents. If you chosen rounding UP of DOWN option your prices will change accordingly.
At any point you can Cancel the process so don’t be afraid to try it. If you feel reluctant you can schedule an one hour appointment with us and will do it for you.
Need more information or considering a training for your staff, please contact us or call on 01 6296058