Cash Rounding

This video explains how to set up and use the cash rounding feature to handle small currency denominations during invoicing.

• Introduction to Cash Rounding The video introduces cash rounding as a way to adjust the total amount of an invoice to the nearest smallest currency unit, which is particularly useful for cash transactions where specific small coins may not be in use.
• Enabling the Feature A walkthrough showing how to go to the Accounting (or Invoicing) module settings. You must check the box for Cash Rounding under the Customer Invoices section and save the settings to activate the feature.
• Configuring Rounding Methods The video demonstrates navigating to Configuration > Cash Roundings to create a new rule. You click “New” to define how the rounding should behave.
• Setting Up a New Rule The narrator explains the key fields for a new rounding rule, such as:
  • Name: A descriptive name like “Round to 0.10”.
  • Rounding Precision: The decimal value to which you want to round (e.g., 0.10 or 0.05).
  • Rounding Strategy: Choosing between “Add a rounding line” (adds a separate line to the invoice) or “Modify tax amount”.
• Account Configuration Instructions on selecting the Profit Account and Loss Account. These accounts are used to record the small differences created by the rounding process.
• Choosing the Rounding Method An explanation of the three available methods:
  • UP: Always rounds to the higher value.
  • DOWN: Always rounds to the lower value.
  • HALF-UP: Rounds to the nearest value, with .5 rounding up.
• Applying Rounding to an Invoice The tutorial shows how to create a new customer invoice. Under the Other Info tab, you can select the “Cash Rounding Method” you just created.
• Verifying the Result In this video demonstrates how the “Total” amount on the invoice changes based on the rounding rule, ensuring the final bill is easy for the customer to pay with available cash.