Nickel Rounding FAQ

What is Nickel Rounding?

Nickel rounding is the practice of rounding cash transaction totals to the nearest (5 cents) due to the declining use and production of pennies. We are currently following standards set by Canada and other countries, any needed adjustments will be made as more information becomes available.

How is Nickel Rounding represented in Baseline?

In the below examples, “x” will represent any dollar amount; nickel rounding will only happen for cash transactions.

Nickel Rounding rounds all cash transactions to the nearest nickel:

• If the transaction ends in $x.01 or $x.02, it'll round down to $x.00

• If the transaction ends in $x.03 or $x.04, it'll round up to $x.05

• If the transaction ends in $x.06 or $x.07, it'll round down to $x.05

• If the transaction ends in $x.08 or $x.09, it'll round up to $x.10

How is Nickel Rounding tracked?

• When viewing a posted invoice, any shortage due to rounding is labeled as such
• Nickel Rounding currently shows up as a discrepancy on the Accounting Journal

How do I enable Nickel Rounding?

• Login to Baseline > Settings > General > Scroll to the very bottom and toggle on Nickel Rounding

On what total is the rounding calculated?

• The rounding is calculated on the post-tax total and has no effect on the sales tax