Procurement Policies and Procedures
Rounding for Payable Invoices
Rounding for Payable Invoices
Effective: 01/01/2011
Purpose:
Explain Rounding when Line and/or Distribution Amounts are split on an uneven amount
Policy:
When line items are split between chartfields, rounding of pennies may occur based on the prorated amounts per line/per distribution. CUBS processing adds/subtracts the difference to the last distribution of each line item in order to balance the totals (i.e. distributions may be reduced by fractions of a cent with the exception of the last distribution which may increase/or decrease by a fraction of a cent).
FYI - the rounding takes place first, then the difference is applied to the last distribution.
Example:
| Unit | Voucher | Gross Amt to Pay | Split % | Line | Distrib Line # | Calculated Amount | Rounding Amount |
| CU | 3194273 | 40.17 | 0.5 | 1 | 1 | 20.085 | 20.09 |
| CU | 3194273 | 40.17 | 0.5 | 1 | 2 | 20.085 | 20.08 |