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
Rounds the currency to the next number if the decimal is equal to or greater than 5. For example, 8.5 to 8.9 is rounded to 9.
Rounds the currency to the previous number if the decimal is less than 5. For example, 8.1 to 8.4 is rounded to 8.
Half Down
Rounds the currency to the next number if the decimal is greater than 5. For example, 8.6 to 8.9 is rounded to 9.
Rounds the currency to the previous number if the decimal is less than or equal to 5. For example, 8.1 to 8.5 is rounded to 8.
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
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
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.