Goodbye to 1 sen. Malaysia is not to use 1 sen anymore at 1st April 2008. The "rounding mechanism" that would be used for all over-the-counter transactions like retails industry. It means that all payment totals will be rounded up or rounded down to the nearest of five sen.
For example, if the total amount to be paid is RM63.01 or RM63.02, it would be rounded down to RM63; if the total is RM63.03 or RM63.04, it would be rounded up to RM63.05.
The table below illustrates how the rounding mechanism works.
For example, if the total amount to be paid is RM63.01 or RM63.02, it would be rounded down to RM63; if the total is RM63.03 or RM63.04, it would be rounded up to RM63.05.
The table below illustrates how the rounding mechanism works.
The above rounding mechanism will be fully implemented at 1st April 2008. Hence, some of the Dynamics AX consultants will seeking for the solution on how to handle the 1 sen scenarios. In this article, I will try to give you a short answer and explain on the solution.
From my point of view, firstly we have to re-configure the setting in exchange rate for RMY currency.
The screenshot below illustrates the setting in exchange rates form.
The following is probably over simplistic but to me there are the reason behind the setting.
After finished the above setting, you may get the following result once create the transaction.
System will automatically round-up the RM63.03 amount to RM63.05.
System will automatically round-up the RM63.03 amount to RM63.05.
2 comments:
Hi Princess,
Are your sure the changes apply to most of the ERP transactions / entries / records?
The rounding is just for Over-the-Counter Payments:
Source:
http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=1531
The "rounding mechanism" that would be used for all over-the-counter transactions like retails industry.
At the end of the day, it is still depends on the business owner whether wants to keep track those transaction in ERP or not.
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