Do you avoid using too many decimal places?
Updated by Brady Stroud [SSW] 1 year ago. See history
Numbers without decimal places offer a simpler and clearer way to present information. Embrace the principle of "less is more" by rounding off values and leaving out zero cents in money values. This way you can make numbers easier to understand and avoid users getting lost in excessive precision. This approach promotes convenience, efficiency, and better communication, allowing users to focus on the main points without overwhelming detail or unnecessary complexity.
You should generally only include decimal places (especially more than 1) for accountants that will be used for reconciliations.
Hi Dave,
The increase in price from AUD $45,750.00 + GST to AUD $<mark>51,110.00</mark> + GST is approved by Bob
❌ Figure: Bad example - Having 0 cents is not necessary
Hi Dave,
The increase in price from AUD $45,750 + GST to AUD $<mark>51,110</mark> + GST is approved by Bob
✅ Figure: Good example - Ditch the 0 cents and have a clear number
Note: The examples above are following the rule on changing from "x" to "y".
Including decimal places is unnecessary when numbers are meant to provide a general indication. The purpose of such reports is to efficiently convey easily understandable overall information. Therefore, it is advisable to prioritize simplicity and focus on presenting a comprehensive overview without delving into intricate decimal numbers.
✅ Figure: Good example - Having $350.1k would not be useful information. $350k is sufficient