Pricing Precision

Pricing Precision

Pricing Precision



Pricing precision refers to the number of decimal places used in the price of a financial instrument, product, or service. It determines the smallest unit of change in the price, affecting how prices are quoted and traded. For example, a pricing precision of two decimal places means prices are quoted to the nearest cent.

With Pricing Precision, each item in your inventory can be priced using up to four (4) decimal places. Calculations on orders and invoices use all of the specified decimal places on the line item when calculating line totals.


Setting Up Pricing Precision


Please note that once a higher precision has been used, it may not be lowered. For example, if increasing the precision from 2 to 3, you will not be able to return to 2 at a later point in time. 

Step 1 : General Settings
  1. Navigate to Admin Panel → General Settings.
  2. Look for Price and Cost field Decimals.
  3. Change the number of decimal places to the maximum you will need to use. Changes made are auto saved by the system.

Changing the Price and Cost field Decimal on General Settings


Step 2: Setup the Items

  1. Navigate to Inventory → Items.
  2. Select an item to use pricing precision.
  3. Click the Setup tab and choose the number of decimal places.
  4. Click Save.

Repeat Step 2 for each item that will use pricing precision.


Decimal Precision on Item Card
  1. The line total is rounded after the calculation of Quantity x Price.
  2. Once the number of decimal in the precision pricing is set, it cannot be decreased after entering transactions.

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