Rounding off problem.

[Maf. King]

On Monday 24 Mar 2008, Abhinav wrote:

> So to rephrase my earlier question: Its not so much about Gnucash
> rounding off figures (sorry for my misleading question) as about
> re-coinciling rounding off done by others while dealing with payments.
> In fact, even we round off amounts while paying to other vendors.
>
> Would there be a way to take care of balancing such amounts?
>
> Thanks a lot for your rely...
>
> Regards, Abhinav.
>
>


Hi,

One possibility is that you have a separate split in your payments 
for "rounding errors"

So a payment for the invoice you described earlier (40k + tax 12.25% - tax 
deducted 2.091%) becomes something like:

Assets:Checking	   43961.00
Exp:TaxAtSource       938.86
Exp:TaxRounding          0.14
Assets:A/R                                 44900.00

You will have to manually adjust the invoice payment transaction, as you can 
only specify one account in the "process payment" dialog.  This should keep 
everything reconcilable, and keep your A/R reports from showing slight 
imbalances/unpaid invoices.

Tax rounding will be negative if your customer has rounded down.

Note, I'm not an accountant, and know nothing about Indian law except what you 
described, which I hope I understood correctly!

Cheers,
Maf.