Each week, CISePOS brings you an exciting update to better the current CISePOS software. Our main goal at CIS Software House is complete customer satisfaction and this is only possible with valuable feedback from our clients in the CIS Family.
This week, we innovated CISePOS in an attempt to make figures mentioned in documents and records more understandable. This is done by setting up rounding values.
Scroll below to jump right on to the quick demo of setting rounding value in CISePOS.
What Are Rounding Values?
Rounding values refer to at which decimal point a number figure is rounded off.
Why Set Up Rounding Values?
Setting up rounding values is important in businesses because many transactions or activities may have figures that have many decimal points. A number with many decimal points is difficult to understand, convey, or read.
Decimal Points in Pakistan
Pakistan’s currency almost never uses decimal points now in the routine of business transactions. Almost all transactions are done in whole rupees i.e. no use of paisas.
For this reason, many retailers may find it hard to process payments when figures are shown in decimal points i.e. paisas. Paisa doesn’t have a currency of its own now and shouldn’t be used unless necessary.
Consumers often dislike decimal points!
A bill to the customer asking for Rs. 321 is better than asking them for Rs. 320.651.
Additionally, the more decimal points there is the more risk of an error there will be. It is a common error for people to mistake the decimal point “.” as a comma “,”. Rs. 320.651 can be read by mistake as Rs. 320,651!
In some countries, a decimal point is even used as a comma. This means foreigners can be rightfully confused as well.
… But Businesses Prefer Decimal Points!
However, B2B transactions are mostly dealt with using decimal points. This is because businesses want accurate records of activities and the more decimal points there are, the more accurate the figure is shown.
Which Rounding Value To Use?
The rounding value you choose depends on the nature of your business.
As a rule of thumb, in Pakistan, if you’re a retailer who mainly deals with customers a rounding value of 0-1 might be best for you. This will not divide the rupees currency in paisas.
For businesses dealing with businesses only, a rounding value of 3-4 might be preferred. This will show an accurate figure and make transactions more verifiable.
For a business dealing with both consumers and businesses, a rounding value of 1-2 should be a good medium point. It is accurate for business use and can be easily ignored when dealing with customers.
How To Set Up Rounding Value in CISePOS?
Setting up your preferred rounding value is extremely easy. This can be changed frequently and any changes take an immediate effect.
Quick Demo
Your first step would be to jump right on to Setup.
From here, scroll below. Under the heading of Sales Setup (Just above Inventory Setup), you will find the option of Round Value.
Click on the drop-down menu and select your desired Round Value.
Once selected, scroll below and press Update.
A sales receipt for each Round Value is shown below:
