Topic: round off
my amount in direct invoice in purchase/sale is say 27999.97. i want to make it round to 28000.00
what setting i have to make in company setup as i have tried whatever i
could understand.
Re: round off
There is no additional rounding done in FA. Amount is calculated just from rcice and quantity taking in to account optional discounts and shipment costs.
Janusz
Re: round off
There is a work around for doing this in FA. However I am not sure your local legislation allows this. Please check for yourself.
Create an Item Tax Type, call it Tax Free or so. Let it be tax éxempt for all taxes.
Create a service item, Name it f.i. Rounding. Put the newly created Item Tax Type on this service item.
When you are doing the invoice and see that the total needs rounding, enter a Rounding item. If the total was 27999.97 and you want 28000.00 then enter a price of 0.03. Remember that FA allows negative amounts for service items, so it should also be possible to round downwards to 27999.00 by entering a price of -0.97.
While the Rounding service item is tax exempt the total will now end up correctly.
In most countries I guess these small amounts will be accepted for non tax.
/Joe
Re: round off
Hi Joe,
I totally agree with your work around. and I would add that this Item (From the Items definition stage) can be linked to an income account. of which will increase or decrease the income based on its total (as per this account accounting nature).
However, what is the possibility of making "Round Off" field in the Invoice itself (similar to concept of shipping). and this "Round Off" is excluded from the VAT by default also similar to "shipping". Also the GL Account of this round-off can to be set form the Setup?