Rounded service fees

It is important for institution to make sure the fractional currency of ticket price is not smaller then the accepted value (e.g for the Colombian peso, the smallest value is 50 COP, while the fractional amount may have a smaller value due to the rate calculation).

Solution

A rounding granularity can be defined for simple charge, depending on the organization's currency. The rounding is done using a ceiling function, meaning the computed fee will be rounded UP.

How to get started

Configuration

The feature is available for simple charges in the charge table setup. It is not available for overhead fees or shipment fees configuration.

A rounding value can be setup a rounding value for each tariff that have a rate (%) configuration.

The following table shows examples of the available rounding granularity per currency.

Amount calculation

The rounding is applied to the total amount of each ticket (total amount = ticket unit amount + charge fee):

1. User purchases a ticket with price 1001 COP, charge fee 7%
2. Total amount to pay for this ticket is: 1001*1.07 = 1071.07 COP
3. Round this total amount with rounding value 50, so total amount = 1100 COP, which is the final amount to pay
4. The charge fee amount of this ticket is the subtraction of the rounded total amount and initial ticket price (1100-1001=99 COP)

In this concept, rounding total amount only mentions unit amount and charge fee, it ignores other types of fee such as price breakdown, overhead, shipment fees, etc.