[GNC] How do you record the rounding of your netpay?

[David Cousens]

If you really want to track this you could setup a contra account to your Income acct which sums into the Income account e.g.

first month:

Income                   Credit 1800.50
Asset:Taxes withheld     Debit   300.00
Income::Pay rounding     Credit    0.50
Asset:Bank               Debit  1501.00

second month:

Income                   Credit 1800.30
Asset:Taxes withheld     Debit   300.00
Income:Pay Rounding      Debit    00.30
Asset:Bank               Debit  1500.00

The balance in the Pay rounding account should hover around 0.00. and your bank account will record the correct balance
in the account at the bank.


I cannot for the life of me understand why any payroll system would be rounding to the nearest pound if they are using
direct credit of your pay. To the nearest penny yes but not the nearest pound. Seems like a hangover from when they paid
in cash and didn't want to be bothered with coins.

David Cousens

On Sat, 2024-01-27 at 08:17 +0000, Oleander via gnucash-user wrote:
> Hello everyone,
> 
> how do you record the rounding of your netpay?
> 
> After subtracting taxes from my gross pay, if the result of my net pay is a floating point number, my company rounds
> this number up to the next integer then credits the amount to my bank account. But the rounding is just a loan, the
> next month it will be charged from my gross pay along with taxes and if the result of my net pay again is a floating
> point number, it will be rounded up to the next integer and then credited to my bank account and so on.
> 
> Eg:
> 
> 1st Month
> 
> Gross Pay = €1800.50
> 
> Taxes = €300
> 
> Netpay = 1500.50 --> 1501€ (amount credited to my bank account)
> 
> 2nd Month
> 
> Gross Pay = €1800.30
> 
> Taxes = €300
> 
> 1st Month Rounding = €0.50
> 
> Netpay = 1499.80 --> 1500€ (amount credited to my bank account)
> 
> Thank you
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