How does the currency rounding limit work? The format is kind of confusing. Can anyone explain the format for this field and what it does?
Answer
currency rounding limit in currencies form
Best answer by Laura03
There is a typo in this help article, which may be what makes it so confusing.
The limit is meant to keep the amount gained or lost by rounding low. We may want to round currency differences to nearest “penny” in the US (.01), and therefore our rounding limit might be .01… meaning the most the system can round up or down to reach the next penny is our Rounding Limit in this case.
If we are rounding to the nearest Dollar, 1.0 is the Rounding Precision and $.50 should be an adequate rounding limit to go up or down to the nearest dollar.
Rounding Limits mentioned in Rounding Setup.
+19There is a typo in this help article, which may be what makes it so confusing.
The limit is meant to keep the amount gained or lost by rounding low. We may want to round currency differences to nearest “penny” in the US (.01), and therefore our rounding limit might be .01… meaning the most the system can round up or down to reach the next penny is our Rounding Limit in this case.
If we are rounding to the nearest Dollar, 1.0 is the Rounding Precision and $.50 should be an adequate rounding limit to go up or down to the nearest dollar.
~ Laura Barber, WM Synergy
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