eTrack uses standard rounding where 1-4 is rounded down and 5-9 is rounded up.
Rounding is applied at the line item level – charge$ is calculated on the hours for a plan/support item/staff member/date.
Hours and Charge
Time is booked in hours and restricted to a maximum of 2 decimal places.
For instance, you can book 0.1 hrs (6 mins) or 0.17 hrs (approx. 10 mins) or 0.25 hrs (15 mins) or 0.83 hrs (approx. 50 mins) etc
Note that Units (expenses) are converted to the equivalent amount of hours.
Charge $ is calculated as Hours x Rate and the product is rounded.
For instance, 0.25 hrs @ $100.14 = $25.035 = $25.04 (rounded up) and 0.1 hrs @ $100.14 = $10.014 = $10.01 (rounded down).
Invoicing
When invoicing, eTrack collects all the billable time and expense entries within the billing period and sums the already rounded Charge $ of each entry to get the Invoice Total $.
Here are some example invoices produced by eTrack.
Other systems may apply rounding in a different way that sometimes produces a different total for the same invoice. The tables below demonstrate a method where the unrounded charge of the line items is summed then the total is rounded.
This total is 1 cent LESS than the eTrack total of $87.13
This total is 1 cent MORE than the eTrack total of $120.16
This total is the SAME as the eTrack total
Payments
Depending on what method a Plan Manager uses, they may derive a total that differs to the eTrack total and request the invoice be amended.
However, it isn’t possible to generate a new invoice from eTrack with a different amount because the hours and rates can’t be changed. It is only possible to Unlock the invoice then use OPEN to access the XLS and manually edit it then EMAIL it again.
It is important to note that the amount exported to Xero/MYOB is the calculated value, not the amended value so the amount paid by the Plan Manager will be slightly more or slightly less than the actual invoice total in your accounting package.
In eTrack you can use the ‘Paid Write Off’ column to record the difference. This will update the Balance Owing to $0.
Conclusion
Rounding discrepancies will occur when systems differ in their approach.
eTrack may produce invoice totals that differ to totals derived by other systems. Both results can be considered correct despite being different.
If you need assistance to demonstrate how an invoice was rounded please contact [email protected]
