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Currency Round Off

This page describes the Currency Round Off setting in the System module.

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The Currency Round Off setting allows you to control the way calculations are rounded off in each Currency.

Rounding is used throughout the system. When you enter a Sub System record (i.e. a record that will eventually post to the Nominal Ledger, such as an Invoice or Purchase Invoice), several figures in that record will be subject to the rounding process. When you then mark the record as OK and save, causing a Nominal Ledger Transaction to be created automatically, any amounts lost or gained from the rounding process will be posted to the Round Off Gain or Round Off Loss Accounts specified in the Account Usage S/L setting. These Accounts will be used in Transactions generated from all Sub System records (e.g. in Transactions generated from both Sales and Purchase Invoices).

There are two settings that control rounding: this one, and the Round Off setting, both located in the System module. When you enter a Sub System record, rounding rules will be taken from the row in the Currency Round Off setting for the Currency/Payment Term/Register combination. If there is no row in the Currency Round Off setting for that combination, rounding rules will be taken from the Round Off setting. The Currency Round Off setting only affects rounding for VAT, row sums and totals.

To open the Currency Round Off setting, first ensure you are in the System module. Then, if you are using Windows or Mac OS X, click the [Settings] button in the Navigation Centre or use the Ctrl-S/⌘-S keyboard shortcut and then double-click 'Currency Round Off' in the resulting list. If you are using iOS or Android, select 'Settings' from the Tools menu (with 'wrench' icon) and tap 'Currency Round Off' in the 'Settings' list. The 'Currency Round Off: Inspect' window appears. Fill in the fields as described below the illustration and then click the [Save] button (Windows/Mac OS X) or tap √ (iOS/Android) in the Button Bar to save the changes. To close the window without saving changes, click the close box (Windows/Mac OS X) or tap < (iOS/Android).

Flip A

Currency
Paste Special    Currency register, System module
The Currency for which you wish to enter rounding rules. This can be your home Currency if you need it to have different rounding rules to those set in the Round Off setting.

Term/Mode
Paste Special    Payment Terms and Payment Modes
You can enter a separate row in this setting for each Currency/Payment Term/Register combination (i.e. you can choose different rounding rules for each combination). Specify the Payment Term part of the combination in this field. Leave this field empty if you need it to apply to every Payment Term.

If you enter a row for a particular Currency/Payment Term/Register combination, you can also enter a second row for the same Currency and Register in which the Payment Term is empty. This second row will be used for all records that do not have the Payment Term specified in the first row. If you do not enter the second row, the rounding rules for records that do not have the Payment Term specified in the first row will be taken from the Round Off setting.

If the Register is "POS Invoices", you should enter a Payment Mode (i.e. a payment method) in this field, as Payment Terms are not used in POS Invoices. If the Register is "Bar Tabs", leave this field empty.

Register
Paste Special    Choices of possible entries
Use 'Paste Special' to specify the register in which the rounding rules are to be used. Choose "All" if you want to apply the same rounding rules to every register (i.e. do not leave this field empty).

Total
Specify here the number of decimal places that you need to be used when calculating the figures shown in the TOTAL field below all matrices. Example values are:
2
Rounds to two decimal places.

1
Rounds to one decimal place.

0
Rounds to the nearest whole number.

-1
Rounds to the nearest 10.

-2
Rounds to the nearest 100.

The maximum number of decimal places is seven, and the number of decimals should not be more than the Default number of decimals specified in the Round Off setting.

Step
Paste Special    Choices of possible entries
Choose an option from the Step pop-up to specify the rounding increment that is to be used when rounding the TOTAL figure, as follows:
no step
A rounding increment of 1 will be used. For example, if you are rounding to two decimal places, values after rounding will follow the sequence 0.00, 0.01, 0.02, 0.03 and so on. 0.023 will be rounded to 0.02 using this option.

5
A rounding increment of 5 will be used. For example, if you are rounding to two decimal places, values after rounding will follow the sequence 0.00, 0.05, 0.10, 0.15 and so on. 0.023 will be rounded to 0.00 using this option.

2.5
A rounding increment of 2.5 will be used. For example, if you are rounding to two decimal places, values after rounding will follow the sequence 0.00, 0.025, 0.05, 0.075 and so on. 0.023 will be rounded to 0.025 using this option. Note that this option will sometimes result in one extra decimal place than specified being used.

Mode
Paste Special    Choices of possible entries
Choose an option from the Mode pop-up to specify how 0.5 will be rounded when rounding the TOTAL figure. The options are:
half up
0.5 will be rounded up to 1.0 when rounding to zero decimal places.

half down
0.5 will be rounded down to 0.0 when rounding to zero decimal places.

to even
0.5 will be rounded to the nearest even whole number. For example, when rounding to zero decimal places, 1.5 will be rounded to 2, 2.5 will be rounded to 2, 3.5 will be rounded to 4.

to odd
0.5 will be rounded to the nearest odd whole number. For example, when rounding to zero decimal places, 1.5 will be rounded to 1, 2.5 will be rounded to 3, 3.5 will be rounded to 3.

truncate
Rounding will be carried out by removing decimals. For example, 1.999 will be rounded to 1.99 (when rounding to two decimal places), to 1.9 (one decimal place) or to 1 (zero decimal places).

Direction
Paste Special    Choices of possible entries
The Direction will only be used if the Mode is "half up" or "half down". It specifies what "up" and "down" mean for negative numbers.
up is always positive
If the Mode is "half up", -1.5 will be rounded up to -1, +1.5 will be rounded up to 2.

If the Mode is "half down", -1.5 will be rounded down to -2, +1.5 will be rounded down to 1.

up is away from zero
If the Mode is "half up", -1.5 will be rounded up to -2, +1.5 will be rounded up to 2.

If the Mode is "half down", -1.5 will be rounded down to -1, +1.5 will be rounded down to 1.

This option will ensure a negative record will completely cancel a positive one.

Flip B

Row Sum, Step, Mode, Direction
Specify here the number of decimal places and rounding rules that you need to be used when calculating the figures shown in the Sum field (Qty * Unit Price) in all matrices and consequently in the Subtotal below matrices as well.

Flip C

VAT, Step, Mode, Direction
Specify here the number of decimal places and rounding rules that you need to be used in the VAT calculation in each matrix row (but note that the figures shown in the VAT field below all matrices will be rounded using the Calculated Values rounding rules specified in the Round Off setting).

Note that the Row Sum will be rounded as determined on flip B before the VAT calculation is carried out.
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Currencies and Exchange Rates in Standard ERP:

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