Round Off Invoice Amount

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Odoo 1
v 10.0 Third Party 557
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Technical name round_off_invoices
LicenseAGPL-3
Websitehttps://www.cybrosys.com

Round Off Invoice Amount

Rounding on Invoice Amount

Cybrosys Technologies

Overview

In any business, rounding of invoice amount is a necessary feature. By default, Odoo ERP doesn't support this feature. But the 'Round off Invoice Amount' app from Cybrosys allows you to round off the invoice amount to the nearest whole amount by excluding the decimal parts. This application also supports you to create separate journal entries for the rounded amounts, which can assure the amount is balanced.

Allow Round Off Feature

First, you have to download and Install the application form Odoo App Store. Then follow the below steps to enable the feature.

Accounting -->Settings -->Round Off

  •    Tick the 'Allow rounding of invoice amount' option.
  •    Don't forget to add the Round off Account/ (Journal entry corresponding to write off amount will be passed to this account)

Round Off Amounts

Goto

Accounting -->Customer Invoices -->Create

Validate the Invoice

Here, the 'Total amount' is the actual amount. 'Amount Due' is the amount after rounding off the decimal parts and it is the one customer needs to pay.

Journal Entries

Goto

Accounting -->Customer Invoices -->Invoice -->Other Info -->Journal Entry

As you can see in the picture a special journal entry is passed to balance the amount.

Round Off Details

Goto

Accounting -->Journal Items-->Search: 'Round Off'

Need Any Help?

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Odoo
Looks like the reversals are not taken into consideration
by on

On making a refund invoice the rounded off value in the 'round' off account' of the invoice to be refunded should be reversed I think, this is not happening now.

Odoo
by on

but legally you cannot round off after applying the VAT, and that round off being not subject to VAT