All financial numbers, like those in P&L and B/S should use financial precision (set to 2). But it is instead showing 3 places decimal (as float precision is set to 3).
Could someone also explain Banker’s rounding vs commercial rounding and which one is recommended for Indian businesses?
Rounding Method: Specifies rounding method to be used everywhere. The default rounding method is Banker’s Rounding which rounds 0.5 to nearest even number. “Commercial Rounding” which rounds 0.5 to next number away from zero, e.g. 1.5 becomes 2.0 and -1.5 becomes -2.0 when rounded.
Please help yourself with documentation as following;