Rounded Product Prices

Suggestion: Set product prices in such a way that, after adding sales tax (or any other customer-to-pay amount), the total price is a “rounded” figure that minimizes the need of giving small change back when buyers pay in cash.

Description: For example: If the price of an item is 9.99 and sales tax is 6.5 %, customers must pay 10.64. Item price might be rounded up to 10.33 (customer will pay 11.00), or rounded down 9.86 (customer will pay 10.50).

Pros: Avoids handling of small cash which is cumbersome, error prone and time consuming. Facilitates data entry & reduces errors when amounts need to be copied to a different system.

Cons: One time substantial effort to change price lists (though it might be done progressively).

Drivers: Store owners


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