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Why do Decimal Places matter?
Why do Decimal Places matter?
Cee avatar
Written by Cee
Updated over a week ago

Throughout Label Engine's accounting section, you'll see the option to set the number of decimal places you want to view. While this may seem strange as you are used to seeing money displayed in dollars and cents with two decimal places, music royalties, especially for streaming, are often paid in amounts smaller than a single cent. Also, royalties are often paid in different currencies and the conversions often lead to fractions.

Label Engine always keeps track of six decimal places for each number, however, to simplify things you can choose to display between two and six decimal places for each number by selecting it on the accounting menu page. If the number contains more than the selected number of decimal places, a + symbol will be displayed next to it. If you choose to display less than six decimal places, please be aware that totals may not always add up exactly due to the reduced values being displayed.
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When reading in royalty reports, if Label Engine encounters fractions that are more than six decimal places, the additional funds (up to eight decimal places) will be summed up and displayed as a 'Rounding Error'. This is to ensure that your statement totals always add up.

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