Change amount of decimal places

So how do people handle inventory items that are purchased, consumed or sold in less than whole units? Two decimal places just don't cut it. Do any of the add-ons extend this to 4 decimal places? (or don't we talk about those)

I appreciate you for joining this thread, @MBOpsGuyatBAW.

QuickBooks lets you record your item qty by 4 decimal places. To to do so, you'll need to activate it in your company Preferences. Let me show you how.

1. Go to the Edit menu in your QuickBooks Desktop (QBDT) software.
2. Select Preferences.
3. From the My Preferences tab, check the box to Automatically Place Decimal Point.
4. Then click OK.

Once done, you can now enter 4 decimal in your item qty. 

However, you'll want to round off the qty for QuickBooks to accurately track it. 

Additionally, I recommend working with your accountant or visit our ProAdvisor page and look for one from there. This way, we can prevent messing up your records.

You might also want to check this link to learn more about theAccounts Payable A/P workflow. 

You can always tag me in your reply if you have other concerns or questions managing your inventory. I'll be around to help you

So I'm guessing this is not an option in the Online advanced verison.

Hi there, MBOpsGuyatBAW.

In the online version of QuickBooks, you have the option to enter more than two decimal points in the quantity and rate field. The total amount will rounded off only until 2 decimals. 

To help you manage your transactions, you can use these articles: 

• What is the difference between bills, checks, and expenses?
• Customize reports in QuickBooks Online
• Set up and track your inventory in QuickBooks Online

Let me know if you have other questions in handling your transactions. Take care!

Thanks for the links, I'm going through them now. 

Question:

Are the quantities stored in two decimal places in the back end db?

What happens to the dollars that are rounded up or down?

Marc

Hello MBOpsGuyatBAW!

Allow me to step in and share some details about decimal points and rounded amounts.

Yes, the transaction will be saved in two decimal places. When you create a transaction less than the whole unit, the system will automatically deduct it from the total quantity on hand. 

When it comes to rounding amounts, the calculation, like income, etc., will be based on the final rate. QuickBooks automatically converts the amounts to the nearest hundredths (two decimal places).

Please visit our Help page if you need more references in managing your business with QuickBooks Online. Click this link: QBO Articles.

Leave a comment again here if you need anything else. Take care!

Can you please tell me how to do this on QBOnline?

I need to change the rate to 3 decimal places in QBO, can you please tell me how?  Thanks!

Hello there, makingsigns.

Looks like you've posted twice in this forum. My colleague already shared the information about your concern about changing the rate to the third decimal point. Please view the complete details in this article: https://quickbooks.intuit.com/learn-support/en-us/employees-and-payroll/re-how-do-i-turn-off-roundin....

The Community is always here to assist you 24/7. With that, you can go back here and post additional concerns, and we'll help you figure them out anytime. Take care and stay safe.

So far I am not seeing how to use 3 decimal places in the rate category of an invoice. QB Online automatically rounds the number two digits, which makes the calculations off. I need this for calculating commissions, so rounding does not work. I need 3 digits and/or the rounding turned off but neither is available in QB Online. If you find an answer, I'd love to know how! Please share! 

I recognize that rounding the invoice rate to three decimals places would be a great functionality, Tonya T. I'm here to share some insights.

Since the option is unavailable, I'd recommend sending a feature request directly to our Product Development team. This helps us improve your experience and the feature of the program. 

Here's how:

1. Go to the Gear menu and then select Feedback.
2. Type in your feature request in the description box.
3. Once done, click on Next.

Also, you can track feature requests through the Customer Feedback for QuickBooks Online website.

Additionally, I've included these articles that'll help you in managing your sales transactions. This way, you're able to keep your book accurate:

• Sales and Customers
• Invoices and Payments

I'm only a post away if you need more help in completing your other tasks in QuickBooks, Tonya T. It's always my pleasure to help you out again.