New Feature Will Support Canada’s Recent Decision to End Circulation of the Penny
Pearl River, New York – pcAmerica, a leading developer of retail and restaurant point of sale software, has released a version of their software that supports a cash rounding feature on March 1st to help support Canada ending the circulation of the penny.
On February 4th, the Canadian Mint stopped circulating the penny to financial institutions, marking the beginning of the end of the penny in Canada. Retailers have been encouraged to send back any pennies that they currently have on hand. Although the penny is only valued at 1 cent, it costs 1.5 cents to produce in Canada. Ending circulation of the penny will save the government $11 million a year.
pcAmerica has released a version of their software that supports a cash rounding functionality for Canada. Cash Register Express™ (CRE), a retail point of sale (POS) system that helps increase efficiency and accuracy, lower operating costs, and helps you manage your inventory and Restaurant Pro Express™ (RPE), a touch screen restaurant POS system that provides fast operation, accurate order taking and detailed reports with an easy-to-use interface will both automatically round the transaction amount to the nearest nickel. For example, if the cash transaction total is $1.03, CRE™ and RPE™ will swiftly bring that total to $1.05, eliminating the need to pay or make change with pennies. The new feature conforms to the regulations defined by the Canadian government.
“We keep a constant pulse on our customers’ needs, and the rules and regulations that affect their businesses,” stated David Gosman, CEO of pcAmerica. “Automating the rounding within our software eliminates the need to manually round transactions. This makes it easy and helps our Canadian retail and restaurant customers easily adjust to the absence of the penny.”
Canada isn’t alone. They followed Sweden, the Philippines, Australia, Brazil, Mexico, and Hong Kong as countries that have gotten rid of the penny. Politicians in the United States have also discussed the possibility of eliminating the penny because it currently costs 2.4 cents to produce.
To learn more about pcAmerica products, visit www.pcamerica.com.
Founded in 1985, pcAmerica has been providing computerized point-of-sale software solutions to the retail, restaurant, and hospitality industries for over 20 years. With over 50,000 users worldwide, its point-of-sale software solutions are used by both chains as well as single location independent operators. The company’s lengthy track record as a proven point-of-sale solutions provider is driven by continuous product innovation, uncompromised customer service, and simplicity of use. Some notable pcAmerica users include Flowers Foods, Goodwill Stores, Baskin-Robbins, Tasti D-Lite and various United States Embassies and Consulates. For more information, visit www.pcamerica.com.