ANS-0498 · ACCOUNTING & FINANCIAL CONFIGURATION
How to Control Decimal Precision for Currencies and Exchange Rates in NetSuite?
Understand how NetSuite manages decimal precision for standard currencies and exchange rates, distinguishing between display formats and calculation precision.
Short answer
NetSuite's decimal precision for currencies is generally hard-set based on the currency itself (e.g., USD uses two decimals, JPY uses zero). While the 'Number Format' preference controls display, it doesn't override this. Exchange rates can be entered with up to 8 decimal places for calculations, though they typically round to 2 decimals on reports.
Scenario
Users often seek to modify the number of decimal places displayed or used for calculations for currencies and exchange rates within NetSuite. This is particularly relevant when dealing with currencies that have varying decimal requirements or when precise exchange rate calculations are critical, but report displays show rounded values.
Solution
NetSuite's decimal precision for standard currencies is inherently configured based on the specific currency. For example, US Dollars are typically set to two decimal places, while Japanese Yen are set to zero. This precision is hard-set within the system and cannot be directly altered by users through standard preferences.
While the 'Number Format' setting, accessible via the path below, controls the general display of numbers, it does not override the hard-set decimal precision for currencies:
Setup > Company > General Preferences > Number Format
For exchange rates, NetSuite allows users to manually enter values with up to 8 decimal places. The system utilizes this higher precision for all internal calculations. However, it is important to note that when these exchange rates are displayed on reports, they are typically rounded to 2 decimal places.
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