Currency rounding
Currencies typically use 0, 1, 2, or 3 decimal places.
The requirement is to round cash sale invoice values to the nearest multiple of the smallest currency denomination. Rounding is required where a currency's low denomination coins have been withdrawn, but the currency’s subdivisions remain the same. If payment is tendered using non-cash methods, no rounding is required. Various rounding interval standards apply.
How Infor meets this requirement
SyteLine allows you to set up several types of amount formats, with or without decimals, for each currency on the Currency Codes form. You can specify a Cash Rounding Factor on the Tax Parameters form, which affects invoices where the billing term is set to Cash Only.
SyteLine supports VAT calculation generation on the header level, rounding the total VAT only. This calculation is applied when an area-based tax system is used. This is typical for countries where a single tax deployed, but not common for EU countries where multiple VAT rates are used. In an item-based tax system, SyteLine supports summarization by tax rate (only when the standard invoice template is used) where a summary of tax base and tax per tax rate is printed on the bottom of the invoice, only rounding the total tax per tax rate. To allow this, select the standard invoice (Standard in the Form Type field) on the Order Invoicing/Credit Memo, Consolidated Invoicing, and Print Price Adjustment Invoice forms.
No invoice template in SyteLine supports the requirement to show tax at line level.