Re: Chart of Accounts

> If you want to take a particular system out to extra digits, it's
> probably good to record the rounding error as a separate component of
> the transaction (that is, if you want everything to balance out
> perfectly).
>
>
I think you have two different problems here. On the one hand you have
rounding errors which are material when aggregated on the other hand
most sales transactions (for example) will come to a dollar and cents
figure. If you have two accounts with different precision then I think
from an accounting perspective you need to say something like this when
posting between the two:

DR   My 2 Decimal Precision Account              2.00
DR   Accumulated Rounding (4 Decimal)          0.0010
    CR                Original 4 Decimal Account                     2.0010

Then at period end you can including your rounding account and
everything will balance.


Craig