Release Date - May 4 2023
- Tamzin Stone
Analytics
Summary of changes:
Removed fractional cent rounding from the Journal, Cheque and Receipt entry module.
This change only impacts multi-currency ledgers.
All amounts are now rounded to the decimal places of the currency.
Removed fractional cent rounding from various system generated journal processes.
i.e. foreign currency revaluation and retained earnings journals
For foreign amount calculation the system will:
Calculate amounts with the exchange rate provided.
Round the amount to the decimal places of the currency.
Fixed rates precision being stored was changed from 8 decimals to 4 .
Although CCMF rates are calculated to 8 decimal places, only 4 decimals are ever reported.
This should help simplify manual comparisons and hopefully minimise confusion.
A migration script was used to remove any fractional cents from existing transactions.
AASI data was excluded – i.e. Vanuatu Mission
After rounding, journal balances were corrected to currency fluctuation.
Account balances were stored prior to rounding.
A journal was created in period 12 and current period for any ledgers affected to ensure account balances were the same after adjustments.
If a retained earnings journal existed for period 12 it was re-generated to close income statement accounts correctly.
Monitoring of these changes has been on-going, there has been no issues identified.