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Ice Ledger

Quantities, Prices and Rounding



 

Here is a short explanation of how the system deals with quantities, prices, exchange rates and tax in calculations.

StepDetails
aThe number of decimal places for both quantities and prices may be defined in system configurations.

bItem unit prices are entered as decimal value in accordance with step a, above.

cAn item unit price may be entered either in base or in foreign currency, again in accordance with step a, above. The currency exchange rate is then applied, to calculate the 'other' currency value. The newly calculated unit price is also NOT rounded.

dThe unit price in base currency is multiplied with the item order quantity (which may be a decimal value with multiple decimal places) to calculate the item net line total.

eItem discount may be entered either as a percentage or an amount. If latter, then it is converted to a percentage without any rounding and the percentage discount amount applied in the step below.

fThe line total net (d) is multiplied with the percentage discount (e) to calculate the discounted line net total - no rounding.

gThe discounted line total (f) is multiplied by the tax rate to calculate the line tax amount - no rounding.

hThe discounted line net total amount (f) is rounded to 2 decimal places to give the line total.

iThe line tax amount (g) is also rounded to 2 decimal places to give the line tax amount.

jValues d, f, h and i, above are multiplied by the exchange rate to calculate the foreign currency equivalents - no rounding.


 

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