Unit prices and fees
The unit price of customer deliveries can be recorded in Mangrove, along with any expected fees due to value streams.
Our platform takes a consistent approach to rounding values across the platform in order to ensure that transaction values are rationalized across currency exchange rates as well as commission/fee percentages in our order management features.
Transaction values and fees are calculated with bankers’ rounding, or rounding half to even. Values are rounded to the nearest cent. When a value lands at the midpoint between two cents (e.g. x.5 cents), the value is rounded to the nearest rounded value such that the least-significant digit is even. For example, 23.5c becomes 24. 24.5c also becomes 24.
Learn more about bankers’ rounding.
Here’s an example to better illustrate why we do this type of rounding:
| Original | Rounding to nearest | Bankers’ rounding |
|---|---|---|
| 54.1754 | 54.18 | 54.18 |
| + 343.2050 | + 343.21 | + 343.20 |
| + 106.2038 | + 106.20 | + 106.20 |
| = 503.5842 | = 503.59 | = 503.58 |
When using the standard approach of rounding to the nearest, you round up or down to the nearest number. For amounts in the middle (ending in 5), it rounds up. This results in a bias towards a higher amount. Bankers’ rounding is closer to the actual amount.