diff --git a/frappe/tests/test_fmt_money.py b/frappe/tests/test_fmt_money.py
index 4fc8877d97..0c838bbd1c 100644
--- a/frappe/tests/test_fmt_money.py
+++ b/frappe/tests/test_fmt_money.py
@@ -80,8 +80,8 @@ class TestFmtMoney(unittest.TestCase):
 		self.assertEqual(fmt_money(100000.1234), "100,000.1234")
 		self.assertEqual(fmt_money(1000000.3456), "1,000,000.3456")
 		self.assertEqual(fmt_money(10000000.3344567), "10,000,000.3345")
-		self.assertEqual(fmt_money(100000000.37827268), "100,000,000.378")
-		self.assertEqual(fmt_money(1000000000.2718272637), "1,000,000,000.27")
+		self.assertEqual(fmt_money(100000000.37827268), "100,000,000.3783")
+		self.assertEqual(fmt_money(1000000000.2718272637), "1,000,000,000.2718")
 		frappe.db.set_default("currency_precision", "")
 
 if __name__=="__main__":
diff --git a/frappe/utils/data.py b/frappe/utils/data.py
index d8ca8c16ef..2f73c37ec5 100644
--- a/frappe/utils/data.py
+++ b/frappe/utils/data.py
@@ -373,8 +373,10 @@ def fmt_money(amount, precision=None, currency=None):
 	# 40,000.23000 -> 40,000.23
 
 	if decimal_str:
-		parts = str(amount).split(decimal_str)
-		decimals = parts[1] if len(parts) > 1 else ''
+		decimals_after = str(round(amount % 1, precision))
+		parts = decimals_after.split(decimal_str)
+		parts = parts[1] if len(parts) > 1 else ''
+		decimals = parts
 		if precision > 2:
 			if len(decimals) < 3:
 				if currency:
@@ -386,6 +388,7 @@ def fmt_money(amount, precision=None, currency=None):
 				precision = len(decimals)
 
 	amount = '%.*f' % (precision, round(flt(amount), precision))
+	
 	if amount.find('.') == -1:
 		decimals = ''
 	else:
@@ -413,7 +416,8 @@ def fmt_money(amount, precision=None, currency=None):
 	parts.reverse()
 
 	amount = comma_str.join(parts) + ((precision and decimal_str) and (decimal_str + decimals) or "")
-	amount = minus + amount
+	if amount != '0':
+		amount = minus + amount
 
 	if currency and frappe.defaults.get_global_default("hide_currency_symbol") != "Yes":
 		symbol = frappe.db.get_value("Currency", currency, "symbol") or currency