Payment Withdrawals: Rounding the Carryover

TranscribeMe (relatively) recently changed the way we process the carryover amount (the third and fourth digits after the decimal place) you see in your Work History. This article will hopefully explain the new rounding system until we can update all of our documentation accordingly.

As you likely know, your Available Balance for completed files is calculated to four decimal places, e.g. $13.5692. At withdrawal, the amount previously would round down to the nearest cent, and any leftover fraction of a cent would remain in your Available Balance and apply toward your next withdrawal. So $13. 5692 would round down to $13.56, and the leftover $0.0092 would carry over to your next paycheck.

Now, however, your amount upon withdrawing will round to the nearest cent, down or up, and your available balance will reset to $0.00. This means that leftover amounts from $0.0001 to $0.0049 will round down to the nearest cent, and the remaining fraction of a cent will be subtracted from your balance and appear as Correction (rounding) in your Work History table. For example, $13.5632 rounds down to $13.56, and a -$0.0032 Correction will display in your Work History.

However, leftovers from $0.00 50 to $0.0099 will round up to the next cent, and the difference between the leftover and the nearest cent will be added to your balance as a Correction; for example, $0.0028 would be added to $13.5672 to make $13.57.

In the unlikely event that your leftover is plus or minus $0.0049 at each weekly withdrawal, the most you'd lose or gain is 25¢ for the entire year ($0.0049 x 52 = 25¢). We hope that you will rest assured, however, that the round-ups and round-downs will balance out, so there's no need to fret over a fraction of a cent every week!