Enter your idea

I would like to suggest adding functionality to better support zero-decimal currencies (such as JPY, KRW, IDR) within Xero. Currently, the system assumes two decimal places for most currencies, which can lead to rounding issues and inaccuracies for currencies that do not use decimals.

Key points to consider:

Currency Settings: Allow users to define certain currencies as zero-decimal so that calculations and display formats automatically adjust.
Tax and Rounding Logic: Ensure compliance with local tax regulations by applying correct rounding rules for zero-decimal currencies.
Reporting and API: Update reports and API outputs to handle zero-decimal currencies consistently, avoiding integration errors.

This enhancement would greatly improve accuracy for businesses operating in regions where zero-decimal currencies are standard.
Thank you for considering this request. Please let me know if further details are needed.

Countries and Currencies Without Subdivisions (Zero-Decimal Currencies)
In modern finance, these are often referred to as "Zero-decimal currencies". In these countries, the currency is not divided into smaller units like cents or pence for daily transactions, either due to historical design or low currency value.
(This refers to zero-decimal currency as defined in the ISO 4217 standard.)

1. Major Economies (Asia) Japan (JPY - Japanese Yen): While "Sen" (1/100) and "Rin" (1/1000) exist in legal history, they were removed from circulation in 1953. The Yen is treated as a whole unit. South Korea (KRW - South Korean Won): There are no fractional units used in daily life or banking; the "Jeon" (1/100) is obsolete. Vietnam (VND - Vietnamese D'ong): Due to its high face value, there are no smaller units. The smallest physical note in common use is 100 or 200 D'ong. Taiwan (TWD - New Taiwan Dollar): While "Jiao" (1/10) and "Fen" (1/100) technically exist in law, the smallest unit in circulation is 1 NTD.
2. South America & Oceania Chile (CLP - Chilean Peso): Transactions are rounded to the nearest peso, and centavos are not used in practice. Paraguay (PYG - Paraguayan Guarani): Centimos were discontinued due to inflation. Vanuatu (VUV - Vanuatu Vatu): The Vatu has no subdivisions.
3. Europe & Africa Iceland (ISK - Icelandic Króna): The "Eyrir" (1/100) was abolished in 2002. Hungary (HUF - Hungarian Forint): Small coins like 1 and 2 Forint were withdrawn, and no decimal units are used in standard pricing. Rwanda (RWF - Rwandan Franc): No fractional units are used. Djibouti (DJF - Djiboutian Franc): No subdivisions. Guinea (GNF - Guinean Franc): No subdivisions.

Best Regards,
Thank you.