Understanding Currency Rounding Methods
Conga Billing has considered the localized requirements of currency rounding and has extended its solution on the Conga Platform. This feature is useful for currencies that do not support decimal values apart from its usefulness of providing flexibility in rounding off for the currencies that support decimal values.
Billing is now providing the following special currency rounding methods:
|
Value |
Description |
|---|---|
|
Always Up |
Rounds the currency to the next higher number. For example, 8.2 is rounded to 9. |
|
Always Down |
Rounds the currency to the previous number. For example, 8.8 is rounded to 8. |
|
Half Up |
|
|
Half Down |
|
|
Half Even |
Rounded to an even number when possible. For example, a number between 8.1 to 8.5 is rounded to the even number 8. A number between 8.6 to 9.4 is rounded to 9. A number between 9.5 to 9.9 is rounded to the even number 10. |
|
None |
Rounding is done as per the Currency Decimal Places settings. |
Example
Suppose ABC company made a new purchase for 1 year, from 12-Jan-2024 to 11-Jan-2025, and wants to get billed on the 12th of every month with Bill In Advance as a billing rule.
Let us configure an order line item for a recurring product with a monthly billing frequency having asset TCV equal to JPY 100.00 for ABC company.
|
Order No. |
Order Line No. |
Product |
Price Type |
Start Date |
End Date |
Quantity |
Per Unit Price |
Net Price |
Billing Frequency |
|---|---|---|---|---|---|---|---|---|---|
|
O-001 |
1 |
Service |
Recurring |
12 Jan 2024 |
11 Jan 2025 |
1.00 |
JPY 100.00 |
JPY 100.00 |
Monthly |
The billing header uses the information from the order line item and contains the following data. Depending upon the information given for the pricing source, It will pick up the pricing information from the order line item or the asset line item. The Billing Header shows:
|
Billing Header ID |
Order No |
Order Line No |
Product |
Price Type |
Billing Frequency |
Billing Rule |
Start Date |
End Date |
Quantity |
Net Unit Price |
Selling Term |
Bill To |
Pricing Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
BH-001 |
O-001 |
1 |
Service |
Recurring |
Monthly |
Bill In Advance |
12 Jan 2024 |
11 Jan 2025 |
1.00 |
JPY 100.00 |
1.000 |
ABC Company |
OLI |
12 billing schedules are generated after billing is initiated. The following table provides a comparative value of the fee amount for different currency rounding methods.
Without Proartion:
|
Billing Schedule Record No. |
Start Date |
End Date |
Always UP |
Always Down |
Half up |
Half Down |
Half Even |
|---|---|---|---|---|---|---|---|
|
BSR-001 |
12 Jan 2024 |
11 Feb 2024 |
JPY 9 |
JPY 8 |
JPY 8 |
JPY 8 |
JPY 8 |
|
BSR-002 |
12 Feb 2024 |
11 Mar 2024 |
JPY 9 |
JPY 8 |
JPY 8 |
JPY 8 |
JPY 8 |
|
.... |
.... |
.... |
|||||
|
BSR-011 |
12 Nov 2024 |
11 Dec 2024 |
JPY 9 |
JPY 8 |
JPY 8 |
JPY 8 |
JPY 8 |
|
BSR-012 |
12 Dec 2024 |
11 Jan 2025 |
JPY 1 |
JPY 12 |
JPY 12 |
JPY 12 |
JPY 12 |
Proration = Last
|
Billing Schedule Record No. |
Start Date |
End Date |
Always UP |
Always Down |
Half up |
Half Down |
Half Even |
|---|---|---|---|---|---|---|---|
|
BSR-001 |
12 Jan 2024 |
11 Feb 2024 |
JPY 9 |
JPY 8 |
JPY 8 |
JPY 8 |
JPY 8 |
|
BSR-002 |
12 Feb 2024 |
11 Mar 2024 |
JPY 9 |
JPY 8 |
JPY 8 |
JPY 8 |
JPY 8 |
|
.... |
.... |
.... |
|||||
|
BSR-011 |
12 Nov 2024 |
11 Dec 2024 |
JPY 9 |
JPY 8 |
JPY 8 |
JPY 8 |
JPY 8 |
|
BSR-012 |
12 Dec 2024 |
11 Jan 2025 |
JPY 1 |
JPY 12 |
JPY 12 |
JPY 12 |
JPY 12 |
Proration = First
|
Billing Schedule Record No. |
Start Date |
End Date |
Always UP |
Always Down |
Half up |
Half Down |
Half Even |
|---|---|---|---|---|---|---|---|
|
BSR-001 |
12 Jan 2024 |
11 Feb 2024 |
JPY 1 |
JPY 12 |
JPY 12 |
JPY 12 |
JPY 12 |
|
BSR-002 |
12 Feb 2024 |
11 Mar 2024 |
JPY 9 |
JPY 8 |
JPY 8 |
JPY 8 |
JPY 8 |
|
.... |
.... |
.... |
|||||
|
BSR-011 |
12 Nov 2024 |
11 Dec 2024 |
JPY 9 |
JPY 8 |
JPY 8 |
JPY 8 |
JPY 8 |
|
BSR-012 |
12 Dec 2024 |
11 Jan 2025 |
JPY 9 |
JPY 8 |
JPY 8 |
JPY 8 |
JPY 8 |
