Round Off Invoice Amount
Rounding on Invoice Amount
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
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.
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
Accounting -->Journal Items-->Search: 'Round Off'
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Looks like the reversals are not taken into consideration
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.
but legally you cannot round off after applying the VAT, and that round off being not subject to VAT