Rounding a numerical value means replacing it by another value that is approximately equal but has a shorter, simpler, or more explicit representation.
Rounding shall be performed by using “half-up” rounding. Half-up means that half-way values are always rounded up.
Rules to minimize the risk of differences due to rounding as illustrated in the examples are:
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All document level totals shall be rounded to two decimals for accounting.
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Rounding shall be done on the final calculation results not on any intermediate results.
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VAT category tax amount (BT-110) shall be rounded on document level and not as a summation of rounded Invoice line VAT amounts.
Meet Jadav, an experienced Marketing & Finance professional with a passion for digital transformation. With a background in accounting and technology, He specializes in e-invoicing solutions and writes insightful blogs to educate businesses on the benefits and best practices of adopting electronic invoicing. He is dedicated to simplifying complex financial processes for organizations.
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