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Jim2® Business Engine Help File

Navigation: Jim2 Functions > Accounts

Rounding Issues

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Rounding occurs, for instance, when a GST value is more than 2 decimal places, and the Transaction Journal only balances to 2 decimal places.

 

For example, a job shows an actual total of $136.2405. Jim2 takes the largest value, posting to an income account and adjusts by the difference to make the journal balance. This can then produce discrepancies between the income account and the transaction journal.

 

To overcome these discrepancies, you can use the rounding account for invoice journals. Jim2 will place all these small adjustments directly into the rounding account, ensuring that your income accounts and transaction journals now match.

 

Job Details

Line

Total Ex GST

GST

Line 1

88.00

8.00

Line 2

1.05

.0955

Totals

89.05

8.0955

                                 

Invoice details

GST

8.10

Total Invoice

89.05

Invoice Income

80.95

 

Journal Details

Income Line 1

80.00


Income Line 2

0.9545


Total

80.9545

Cannot use this value as the journal will not balance.

                 

Rounding Account for Invoice Journals                                

 

When not enabled, Income Line 1 is adjusted to 79.9955

                         

When enabled, rounding account amount is 0.0045.

Further information: