IRS mileage rates often need more than 2 decimal places. Please consider offering format options in reports to allow for this.

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IRS mileage rates can change yearly.  We need to show the full rate to some clients so they know they are being billed for the current rate.  Only showing 2 decimal places doesn't allow us to show the full rate.
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Jerry

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Posted 1 year ago

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Aashnee Kamboj, Community Moderator

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Hi Jerry,

Thank you for bringing this up.

You need the decimal precision in Expense sheet or reports?
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Lisa

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This is an issue shows up in reports and invoicing. The expense sheet allows you to enter more than 2 decimal places. It allows you to enter $0.535, but when you pull a report or bill on an invoice it rounds it up to $0.54. This throws off the total on the invoice. 
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Karen Chao, Product Manager

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Hi Lisa,

We understand the decimal precision is a problem. We are currently working on some other product features but hope to be able address this in the near future. Not sure on timing yet. 

Best, Karen
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Hunt, Brenda

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Yes this is needed for both expenses and for invoicing!  For expenses, it rounds up to an amount higher than what the IRS allows for mileage reimbursement without making it taxable income.  This adds up for employees with a lot of mileage and also increases the expense for the employer.

The final number, of course, can be rounded, but the decimal the mileage is multiplied by should use 3 places.  1000 miles x .535=$535, not $540.
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JJ

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We agree this needs to be fixed since we cannot use the current max IRS mileage reimbursement amount since it rounds to an value that exceeds the IRS limit.
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Zane, Brittany

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Please consider moving this issue to a higher priority.  Currently, companies like us have been over-invoicing their clients due to the invoices rounding the expense amount up prior to calculation.  In an export from the expense sheet, it keeps the 3 (or 4) decimal places, causing discrepancies between what is invoiced to the client and the expense details.  I would assume this is a fairly easy fix, just changing the value field in the invoice to 4 decimal places and proceed with the calculation as such.  Then the expense total/invoice total can be limited to two decimal places.  Since the expense sheet allows for more than 2 decimal places, it does not make sense to limit the invoice to 2 prior to calculation.
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Townend, Richard

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On a related matter - we are seeing different rounding behavior in different reports (based off different expense templates). We are still on Gen2.

Our scenario is a user who had 2 mileage expense items on same day, with same description.  On our reimbursement report (based on Expense Detail template) it appears to be rounding each item and then adding, while the report we use for invoicing (based on Expense Billing template) is adding and then rounding. As a result, they reports are off by 1c for the same expense. While trivial, it is causing us all sorts of reconciliation issues.

For example, at $0.545/mile, and with entries for 55 and 75 miles on the same day, one report says $70.85 and the other says $70.86. Because both have same description, I can't force them to be reported separately (AFAIK).

From what I can see, in both cases the IRS rate is being used without rounding. The rounding is happening either on the total mileage expense for the day, or per entry.

Is this something others have seen? Or (better) does anyone know how to fix this? I am currently looking to see if I can rework our re-imbursement report to use the Expense Billing template.

Thanks,

Richard T