Windward Insider Blog

Canadian Mint Penny Wise

Leave a PennyIt has cost Canada 1.6 cents to produce each one-cent coin. After years of discussion the Canadian government has finally decided to stop penny production later this year. With businesses ready to throw away their "save a penny, take a penny" boxes, it leaves many wondering what it will mean. In other countries that have eliminated the penny such as Australia, it was done at the cash level. Your retail software or cash register will need to round to the nearest nickel on sales paid by cash.  You can still have the pennies on accounts receivable or credit card transactions. Windward Software has penny tender rounding solution ready for Canadian retailers.  Is your software ready?

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