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Rounding Policy:

 

Rounding Policy is a method used by XTRF Platform to round the rates in payables or receivables. It is a global method, therefore when you set up a given option it rounds up rates for all your partners, clients and vendors.

Below you can find the description of the three options of Rounding Policy in XTRF Platform:

  • Round first option: If this option is selected, all rates in XTRF Platform are rounded before performing multiplication per quantity

The algorithm is:

Total Amount = Quantity * Rounded Rate Value


Example:

You have task with ten words without matches and the value of the word rate is 0.095. Therefore, the rounded value of the word rate is 0.10.

Total amount = 10 * rounded to 2 decimal points ( 0.095 ) = 10 * 0.10 = 1

 

  • Round subtotals option: If this option is selected the rates are being rounded to five decimal points instead of two.

The algorithm is:

Total Amount = Quantity * Rate Value

where the total amount  with 5 decimal points is rounded to 2 decimal points.


Example:

You have task with ten words without matches and the value of the word rate is 0.09567.

Total amount = rounded to 2 decimal points ( 10 * 0.09567 ) = rounded to 2 decimal points ( 0.9567 ) = 0.96

 

  • Round last option: If this option is selected, the total amount is calculated and then the result is rounded up. The result is only rounded up if there are more than two digits.

The algorithm is:

Total Amount = Quantity * Rate Value


where the total amount is only rounded up if there are more than two digits.


Example:

You have task with ten words without matches and the value of the word rate is 0.0956.

Total amount = rounded to 2 decimal points ( 10 * 0.0956 ) = rounded to 2 decimal points ( 0.956 ) = 0.96

 

The table below presents the differences between the three Rounding Policies in details. In the example there are two types of matches:

  • No Matches where 100% of the base rate is paid
  • Repetitions where, in this case, 30% of the base rate is paid

For both types the base rate value is 0.23456 and the quantity is 100 words.

 Rate Value

Round first Option

Round subtotals OptionRound last Option
No Matches: 100% Paid0.230.234560.23456
Repetitions: 30% Paid0.070.070370.07037
 
Quantity = 100Rate Value * Quantity
Round first OptionRound subtotals OptionRound last Option
No Matches: 100% Paid2323.4623.456
Repetitions: 30% Paid77.047.037

 

Total Value:

A sum of the rate value for both types of matches, 100% and 30% paid.

Total Value
Round first OptionRound subtotals OptionRound last Option
3030.530.49
 

Weighted Quantity = Total Value / Base Rate Value

Base Rate Value = 0.23456

Weighted Quantity
Round first OptionRound subtotals OptionRound last Option
127.899130.031130

 

 

The Rounding Policy method can be set up in the Home Portal configuration. To do so, perform the following steps:

  1. Sign in to the Home Portal of XTRF Platform.
  2. Click the  icon.
  3. In the accordion menu click the General Configuration and then select the Advanced Configuration.
  4. Select the Quote/Project tab.
  5. Click the Edit button.
  6. In the General settings section select the required option from the Rounding Policy drop-down menu.

 

Your Data in Document Templates

Please note that because of your XTRF Platform custom settings the number of digits might be different in the Document Templates, which might result in false discrepancy between the templates and the financial data in the Home Portal.