Finance Division

# 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

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