Default Round A/c

YouTube: How to Specify the Rounding Account for Posting Round-off Amount in Sale Bill?

How to Specify the Rounding Account for Posting Round-off Amount in Sale Bill?

The Default Round Account feature in Logic ERP automatically manages small rounding differences during billing, ensuring accurate and consistent financial records.


Step-by-Step Configuration

  • Open the Sales Voucher Configuration.

  • Select the relevant Billing Series.

  • Click on “Other Setting 1”.

  • Click on the “Other Settings” button.

  • Locate the option labeled: “Default Round A/c”

  • From the dropdown list, select the appropriate ledger (e.g., Round Off).

As mentioned above, follow the given steps and select the appropriate option from the dropdown as per your requirement.
  • Click OK and save the changes.


How It Works During Billing

  • Proceed to create a Sales Bill.

  • Open the View Totals window.

  • You’ll notice:

    • The transaction amounts are shown.

    • A rounding difference (e.g., ₹0.12) is applied to finalize the payable amount.

As you can see in the picture, a round-off amount of ₹0.12 is being shown in the Round A/c.
  • This difference is automatically posted to the Round Off ledger account.


Post-Billing Ledger Impact

  • After saving the bill:

    • Go to the Round Off account ledger.

    • You’ll see that the rounding difference is posted here automatically.

As shown in the picture, the rounding difference is automatically posted to the Round A/c.
  • This ensures clean and accurate accounting entries for minor adjustments.


Benefits

  • Eliminates manual intervention for small rounding amounts.

  • Maintains accuracy in financial reporting.

  • Ensures compliance and consistency across billing operations.

Last updated