Many industries use an ERP solution to maintain their accounts and inventory. However, at the time of setting up account related information with different currencies, many users are clueless about setting up decimal places for multiple currencies.
While reading this blog post, you will get a clear idea about how decimal places need to be set up and how the set-up will work throughout the application.
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While setting up currency code, you get a screen as shown below. On the screen, there is decimal place option (shown in red box) for setting up decimal places for a particular currency code.
Decimal places play an important role in accounting. At the time of making transaction entries in inventory module, you will get the same number of decimal places throughout SAGE 300 ERP as you have set in the currency code for that particular currency. Kindly refer the below screenshot.
According to the above screen shot, item “A1-103/0” has the price list “USA”. But in that price list, you have set the decimal places till 4 digits after decimal. Even though you have set up different number of decimal places in item pricing or price list code, at the time of transaction, it will take on number of decimals as per the setup in currency code. Kindly refer the below screen shot.
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