2.5.4 Rounding Details
For more information on the fields, refer the Field Description table given below:
Table 2-7 Exchange Rate Type - Field Description
Field | Description |
---|---|
Rounding Option for Calculation Currency | You need to specify the rounding option to be used for conversion of the amount
to calculation currency. It could either be Currency Default or
Specific.
Currency Default indicates that the rounding details should be taken from the rounding parameters defined in Currency Maintenance. Specific indicates that the rounding parameter should be defined/picked up from the Tax Rule. |
Rounding Method for Calculation Currency | You need to specify the rounding method to be used for conversion of the amount
to calculation currency. This field would be enabled only if the
calculation currency rounding option is ‘Specific’. Select one of the
following options:
Truncate indicates that the amount should be truncated to the number of decimals specified for the currency. Round Up indicates that the amount should be rounded up based on the number of decimals and the nearest rounding unit for the currency. Round Down indicates that the amount should be rounded down based on the number of decimals and the nearest rounding unit. Round Near indicates that the amount will rounded either up or down to the specified number of decimal places and units, depending on whether the next decimal place exceeds or is less than 5. |
Decimals for Rounding Tax Currency | This field is enabled only if the Calculation Currency Rounding Option is
selected as ‘Specific’.
You need to specify the decimal up to which the rounding/truncation needs to be done. The rounding decimals defined here should be less that or equal to the decimals defined in Currency Maintenance. |
Units for Rounding Tax Currency | This field is enabled only if the Calculation Currency Rounding Option is selected as ‘Specific’. You need to specify the unit up to which the amount should be rounded. The unit defined here should be a multiple of the unit defined in Currency Maintenance. |
Rounding Option for Tax Currency | You need to specify the rounding option for conversion of the amount to tax
currency. It could either be Currency Default or Specific.
Currency Default indicates that the rounding details would be taken from the rounding parameters defined in Currency Maintenance. Specific indicates that the rounding parameter would be defined/picked up from the Tax Rule. |
Rounding Method for Tax Currency | This field is enabled only if the Calculation Currency Rounding Option is
selected as ‘Specific’. You need to specify the rounding method to be
used for the defining the tax amount. The available methods are:
Round Down indicates that the amount is rounded down based on the number of decimals and the nearest rounding unit. Round Near indicates that the amount will rounded either up or down to the specified number of decimal places and units, depending on whether the next decimal place exceeds or is less than 5. |
Decimals for Rounding Tax Currency | This field is enabled only if the Calculation Currency Rounding Option is
selected as ‘Specific’.
You need to specify the decimal up to which the rounding/truncation needs to be done. The rounding decimals defined here should be less that or equal to the decimals defined in Currency Maintenance. |
Units for Rounding Tax Currency | This field is enabled only if the Calculation Currency Rounding Option is selected as ‘Specific’. You need to specify the unit up to which the amount should be rounded. The unit defined here should be a multiple of the unit defined in Currency Maintenance. |
Parent topic: Tax Rules