Proposal for modifying gnucash to use exact quantities
Robert Graham Merkel
Fri, 4 Aug 2000 11:16:49 +1000 (EST)
Ben Stanley writes:
> In Australia, we currently have a curious system. The smallest unit of
> currency is 1 cent (AU$ 0.01), which is what bank accounts are kept in.
> However, the smallest coin is 5 cents. All cash transactions are rounded
> to the nearest 5 cents.
> Thus, the denominator for your fractionalised representation must be able
> to cope with 1/100 for bank accounts, but 1/20 for cash accounts of the
> same currency, and be able to convert between them...
What I'd probably do, if you needed to account for this, is create a
"rounding errors" expense account. If needs be, we can probably
automate this process (certainly, if/when we add POS capabilities to
gnucash, we'll need it for Australia).
However, I would think that *most* of the time, just putting in the
amount that you actually pay would be satisfactory.