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Post by southseacompany on Oct 21, 2019 9:19:34 GMT
This topic has been discussed before, but it's still not fully clear. We've been told that Mintos internally represents balances with 16 decimal places, and only displays rounded numbers for user convenience. However, if you download an account statement, you will get an Excel sheet with the full accuracy, yet on the final line, there is an item called Rounding investment rebuy which makes an additional adjustment to the total. If the statement is already a full-precision document, why is there a further adjustment?
In my case, I'm analysing my history of about 19,000 transactions. If I round each item to two decimal places, I will be off from the final balance of all transactions in the Excel sheet by about 70 cents, which is understandable: that is literally a rounding error. But the balance in the Excel sheet is then itself off by a further 20 cents from the balance shown on the Mintos website, and that difference is eliminated by adding the Rounding investment rebuy item. This makes no sense to me. I suppose it is possible that Mintos internally uses an even higher precision, and rounds that off to 16 decimal places for the report; but it is not plausible for such small roundings to add up to 20 cents, so ultimately I have no idea why the final item is there.
I would imagine anyone who is investing through a company or is otherwise required to keep accurate records is probably perplexed by the small rounding errors that keep cropping up in Mintos statements no matter how you try to reconcile them. Has anyone figured this out?
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Post by southseacompany on Oct 21, 2019 9:31:32 GMT
After further investigation, I have found the root cause of my problem: the Excel sheet is a complete joke and should not be used for any serious accounting purposes. The accurate figures can only be extracted from the JSON structure on each statement page; they are not otherwise available for download. The Excel figures are rounded, and the rounding error compounds on each line, hence the need for a final adjustment.
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