diff --git a/webnotes/utils/__init__.py b/webnotes/utils/__init__.py
index d6d637674b..a53ffeaf27 100644
--- a/webnotes/utils/__init__.py
+++ b/webnotes/utils/__init__.py
@@ -407,39 +407,76 @@ def parse_val(v):
 	return v
 	
 # ==============================================================================
-
-def fmt_money(amount, decimal_fmt="%02.d"):
+# 
+# def fmt_money(amount, decimal_fmt="%02.d"):
+# 	"""
+# 	Convert to string with commas for thousands, millions etc
+# 	"""
+# 	currency_format = webnotes.conn.get_value('Control Panel', None, 'currency_format') \
+# 		or 'Millions'
+# 	comma_frequency = (currency_format == "Millions") and 3 or 2
+# 	minus = flt(amount) < 0 and "-" or ""
+# 
+# 	# get whole and fraction parts
+# 	str_amount = cstr(amount)
+# 	if "." in str_amount:
+# 		amount_whole = abs(cint(str_amount.split(".")[0]))
+# 		amount_fraction = cint(str_amount.split(".")[1])
+# 	else:
+# 		amount_whole = abs(cint(str_amount))
+# 		amount_fraction = 0
+# 	
+# 	# reverse the whole part, so that it is easy to append commas
+# 	whole_reversed = cstr(amount_whole)[::-1]
+# 	whole_with_comma = whole_reversed[:3]
+# 	if len(whole_reversed) > 3:
+# 		remaining_str = whole_reversed[3:]
+# 		for i in xrange(len(remaining_str)):
+# 			# insert a comma after the specified frequency of digits
+# 			if i%comma_frequency==0:
+# 				whole_with_comma += ","
+# 			whole_with_comma += remaining_str[i]
+# 	# reverse the whole part again to get the original number back!
+# 	whole_with_comma = whole_with_comma[::-1]
+# 	webnotes.msgprint(decimal_fmt)
+# 	webnotes.msgprint(("%s%s."+decimal_fmt) % (minus, whole_with_comma, amount_fraction))
+# 	return ("%s%s."+decimal_fmt) % (minus, whole_with_comma, amount_fraction)
+	
+
+def fmt_money(amount, precision=2):
 	"""
 	Convert to string with commas for thousands, millions etc
 	"""
-	currency_format = webnotes.conn.get_value('Control Panel', None, 'currency_format') \
-		or 'Millions'
-	comma_frequency = (currency_format == "Millions") and 3 or 2
-	minus = flt(amount) < 0 and "-" or ""
+	curr = webnotes.conn.get_value('Control Panel', None, 'currency_format') or 'Millions'
+	amount = '%.*f' % (precision, flt(amount))
+	val = 2
+	if curr == 'Millions': val = 3
 
-	# get whole and fraction parts
-	str_amount = cstr(amount)
-	if "." in str_amount:
-		amount_whole = abs(cint(str_amount.split(".")[0]))
-		amount_fraction = cint(str_amount.split(".")[1])
-	else:
-		amount_whole = abs(cint(str_amount))
-		amount_fraction = 0
-	
-	# reverse the whole part, so that it is easy to append commas
-	whole_reversed = cstr(amount_whole)[::-1]
-	whole_with_comma = whole_reversed[:3]
-	if len(whole_reversed) > 3:
-		remaining_str = whole_reversed[3:]
-		for i in xrange(len(remaining_str)):
-			# insert a comma after the specified frequency of digits
-			if i%comma_frequency==0:
-				whole_with_comma += ","
-			whole_with_comma += remaining_str[i]
-	# reverse the whole part again to get the original number back!
-	whole_with_comma = whole_with_comma[::-1]
-
-	return ("%s%s."+decimal_fmt) % (minus, whole_with_comma, amount_fraction)
+	if amount.find('.') == -1:	temp = '00'
+	else: temp = amount.split('.')[1]
+
+	l = []
+	minus = ''
+	if flt(amount) < 0: minus = '-'
+
+	amount = ''.join(amount.split(','))
+	amount = cstr(abs(flt(amount))).split('.')[0]
+	
+	# main logic	
+	if len(amount) > 3:
+		nn = amount[len(amount)-3:]
+		l.append(nn)
+		amount = amount[0:len(amount)-3]
+		while len(amount) > val:
+			nn = amount[len(amount)-val:]
+			l.insert(0,nn)
+			amount = amount[0:len(amount)-val]
+	
+	if len(amount) > 0:	l.insert(0,amount)
+
+	amount = ','.join(l)+'.'+temp
+	amount = minus + amount
+	return amount
 
 #
 # convet currency to words