This article will delve into resolving an error “Error in unit of amount in currency XX. Must be rounded to 1.00.”
Missing configurations in the below suggested steps are some of the identified common reasons behind this currency errors.
Configurations:
Step 1: Most common issue is due to decimal values during excel uploads.
Go to Excel you are trying to upload > Truncate the excel with 2 digits after decimal point.
Example: We are trying to upload one of the journal line with amount 43.67189172 and truncate this amount to 43.70 (round off), then try to upload the excel.
Most of the time, we see this error due to excel upload/Import of journals and this does not come through when we create manual journals.
Below are few of other configurations which are the reason behind this error. "Amount is specified too detailed in relation to the rounding of the currency" which actually starts saying 'Error in unit of amount....'
Step 2: Check General ledger parameters:
Navigate to General Ledger > Ledger setup > General ledger parameters > Under Ledger tab > Check if ‘Maximum penny difference’, ‘Maximum penny-rounding in the reporting currency’ was set.
Step 3: Check Accounts for Automatic transactions:
Navigate to General Ledger > Posting setup > Accounts for automatic transactions > Check if ‘Penny difference in account currency’ and ‘Penny difference in reporting currency’ accounts were mapped.
Step 4: Check Currencies:
Navigate to General ledger > Currencies > Currencies > Rounding rules fast tab > Check if any rounding rule is set as shown below. If a value 1.00 is entered in one of those fields. If so, change it to 0.00 to disable the rounding rule.
Step 5: Check Sales tax code rounding:
If you are using Sales tax codes in a journal line, then navigate to Tax > Indirect tax > Sales tax > Sales tax codes > Calculation fast tab > Sales tax rounding rule.
That’s all for this blog post. Keep Exploring!!
THANK YOU!
