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Rounding Unit Costs is Mayhem...

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Posted on by Tricon916 18
BC newb, trying to understand what we need to do to unify the rounding precision across all forms and reports. We're having an issue where fields will sometimes round up or down at their own will. It throws our reports off and makes life hell for our billing team.
 
Take a look at line items 1 and 3. They are the same item, different unit cost/ unit amounts. Some are rounded up some are rounded down. Absolutely no idea why or how we fix this. To make matters worse, when I run the Inventory Valuation report, line item 3 will show as 1.42, even further rounding up? Help Obi wan Kenobi, you're my only hope!

//
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Reports and Business Intelligence
  • Suggested answer
    KasparsSemjonovs Profile Picture
    KasparsSemjonovs 3,222 Super User on at
    Rounding Unit Costs is Mayhem...
    We don't want everything to be 2 decimals places, we need the 5 places for internal costs / reporting, but 2 decimals for external things like invoices.
    That is how system is setup up by default. So if You haven't changed anything, it should be like that.
     
    regarding Your last comment:
    "our item that cost us $1,417.50 is being rounded up to $1,418. If I sell 250,000 of those my costs are way off. "
     
    here You are wrong. If You bought 1000 items, for $1417,50, then even if the system would show Your unit cost for 1 item 1,418  and You would think that once you sell all 1000 items the costs would have a difference of $0,50  but actually the difference would be 0. System does adjust the unit costs - so that the outgoing items are always with the same cost as incoming items. 

    Even if after few weeks you get additional costs for delivery for these items, You can add it and system will re-calculate all the already sold item unit costs.
  • Tricon916 Profile Picture
    Tricon916 18 on at
    Rounding Unit Costs is Mayhem...
    We don't want everything to be 2 decimals places, we need the 5 places for internal costs / reporting, but 2 decimals for external things like invoices.

    We sell items that are sometimes listed as per thousand, or EACH. So an item that is $2,375 per thousand, would have a cost of $2.375 EACH. You can see how this would effect our reports because in the example above our item that cost us $1,417.50 is being rounded up to $1,418. If I sell 250,000 of those my costs are way off. 
  • Suggested answer
    KasparsSemjonovs Profile Picture
    KasparsSemjonovs 3,222 Super User on at
    Rounding Unit Costs is Mayhem...
    Not sure if You want all to be rounded to 2 digits after decimal point?
    Then in General Ledger Setup edit the field Unit-Amount Rounding precision = 0,01 and Unit-Amount Decimal Places = 2:2  (it will affect the field Unit Amount in Item Journal).  And as previously suggested it is also possible to provide the needed rounding for Invoice and VAT amounts. Usually these are by default 2:2. Last place to look is in case the transaction is in Currency - then in the Currency list, for each currency You can also set up how amounts in each currency are rounded and how many decimals are displayed after decimal point.

    But in Journal lines - system is somehow built in to auto-correct roundings... for example if you have two entries for the same quantity for amount1.415   - then one will be rounded to 1.42 and the other one will be rounded to 1.41  = therefore the total quantity value is the one You entered 1.415

     
  • Tricon916 Profile Picture
    Tricon916 18 on at
    Rounding Unit Costs is Mayhem...
    Mine is similar, although I'm not using VAT, but looks the same to me? Other than the Inv. Rounding Precision?

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    YUN ZHU Profile Picture
    YUN ZHU 63,013 Super User on at
    Rounding Unit Costs is Mayhem...

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