Base Currency - Number of Decimals

Yahoo Archive
1
We went live Oct 3 2011 and had initially set our decimals as 2 & 4 and ended up changing our minds. Once you set it they tell you can't change it but Epicor can provide a small script to allow the update to the decimals. We ran it through our system and it worked great. Very easy to apply. We decided on the 5 also.




Shelly Bonnici, CPA
Controller
Ash Stevens Inc.
734-282-3370 x 1137 (Riverview)
313-872-6400 x 1204 (Detroit)
Fax: 313-872-6841
sbonnici@...<mailto:dbeardslee@...>
www.ashstevens.com<http://www.ashstevens.com/>



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2
We're scheduled to go live in October of 2012. We have gotten feedback from our end users regarding the number of decimals for price and cost. Their preference is to only use two decimals. We are a distributor, not a manufacturer, so it's not as vital for us to have a number of decimal places.

Is there anyone else that is using only 2 decimal places? Have you seen any rounding issues in your financials or anywhere else? I'm hesitant to limit us to two but I don't have any concrete reasons. Any advice?

Jewels
3
If it is for reports/forms that are sent to your customers, you can edit the Crystal Report to have the value round up to two decimal places, but keep it to what you have set in Vantage.


--- In vantage@yahoogroups.com, "Julie Gibbs" <onlyjewelsx2@...> wrote:
>
> We're scheduled to go live in October of 2012. We have gotten feedback from our end users regarding the number of decimals for price and cost. Their preference is to only use two decimals. We are a distributor, not a manufacturer, so it's not as vital for us to have a number of decimal places.
>
> Is there anyone else that is using only 2 decimal places? Have you seen any rounding issues in your financials or anywhere else? I'm hesitant to limit us to two but I don't have any concrete reasons. Any advice?
>
> Jewels
>
4
I would recommend you set the base currency number of decimals for Costs to 5. We are currently having rounding problems in PO Receipting, because unfortunately the costs in the base currency are being rounded to 2 decimal places and the receipt amount (in the transaction currency) is being recalculated using this rounded figure.
This is being fixed in the 701 release apparently. Nevertheless there is no reason not to store costs to 5 d.p. and it will prevent this problem.


--- In vantage@yahoogroups.com, "Julie Gibbs" <onlyjewelsx2@...> wrote:
>
> We're scheduled to go live in October of 2012. We have gotten feedback from our end users regarding the number of decimals for price and cost. Their preference is to only use two decimals. We are a distributor, not a manufacturer, so it's not as vital for us to have a number of decimal places.
>
> Is there anyone else that is using only 2 decimal places? Have you seen any rounding issues in your financials or anywhere else? I'm hesitant to limit us to two but I don't have any concrete reasons. Any advice?
>
> Jewels
>