Friday Feature - Making Cents in Your Budget
Sometimes cents matter. Each district or organization needs to make that determination. Do they include cents in the budget account totals or not? (Now, of course, budget items include cents, because that information comes from salaries and expenditures and rounding at that low level could skew the total for the account.)
Do you want your budget account amounts to round? Actually, the question is two-fold. If you do want to round, how do you want to round? Escape Online gives you three options.
Let's use the example of an account with budget items that total $57.31:
- No rounding - Allow pennies at the budget account total: $57.31
- Round up - No pennies. Round to the next nearest dollar: $58
- Standard rounding - No pennies. Round to the nearest dollar: $57
Plus, if you choose one of the rounding options, your budget reports will show the rounded figure without the cents!
Now that makes sense!
NOTE: Changing the rounding in the middle of budget development should be done with care and consideration, especially if you copy from previously created models.