Introducing cash rounding for Belgian merchants!
As of December 1st, a new law regarding rounding payment amounts has been introduced. All Belgian merchants must now round the total on a cash payment to the nearest EUR 0.05.
What does this mean for Belgian merchants using Lightspeed Restaurant?
- The total amount due on a cash payment is automatically rounded by Lightspeed Restaurant. The customer will pay the rounded amount on their bill.
- The total rounding per receipt is no more than 2 Euro cents (+ or -)
- For cash totals ending in EUR 0.01, 0.02, .06, and .07, the total amount will be rounded down to the nearest EUR 0.05 value.
- For cash totals ending in EUR .03, .04, .08, and .09, the total amount will be rounded up to the nearest EUR 0.05 value.
- The receipt (and receipt invoice) will show both the non-rounded and rounded total
- VAT is calculated and applied to the original payment amount before rounding
- X/Z-reports will display the sum of all roundings applied to cash payments (compared to when the last report was run)
Will this change be automatically applied to Lightspeed Restaurant accounts?
Please ensure all of your iOS devices are updated to the latest version of 7.15.2 for these changes to take effect.
This change is for cash payments – what about other payment types?
- Meal vouchers and gift cards (regardless of whether they are electronic or not) are not to be rounded
- For now, Lightspeed will not round card payments. We will communicate when this changes.
How will mixed payments (partly cash, partly an alternative payment method) be handled?
When customers wish to pay part of the amount with an alternative payment method, it is important to respect the following sequence order, according to Belgian law:
- Process payments with meal vouchers or gift cards
- Process cash payments
- Process electronic payments
The above rounding sequence is not enforced by Lightspeed and is therefore the responsibility of the merchant to follow. The new Belgian rounding rules are only applicable for the cash portion of a payment and this rule is automatically applied for all cash payments by Lightspeed.