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Rounding Gain/Loss Account

  • 18 February 2024
  • 1 reply
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Still new to Acumatica, so there are some features that I am now looking into that I feel may benefit our business.

With our old accounting software, we used to manually round invoices, but they always went to our default AR/Sales accounts. I think that the Invoice Rounding feature in Acumatica would help us roll out this practice for all invoices. However, I am running into an issue with setting it up…

I’ve enabled the feature under CS100000 and I’ve set the AR preferences to “Nearest” and “1.00.” We will not utilize the AP rounding so I’ve kept that at currency precision. However, when I do this in AR Preferences, it says: “To use this rounding rule, you should specify Rounding Limit on General Ledger Preferences (GL.10.20.00) form.”

Problem is, nothing on the GL Preferences form says anything related to this. Looking into it further, I am also not able to specify a Round Gain or Loss account, which I would particularly be interested in for tracking the revenue from this practice. Am I missing something here? Is there another feature that I need to enable?

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Best answer by Laura02 18 February 2024, 17:24

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Hello @osutherin ,

I did a quick test in demo.

I saw the same warning in AR Preferences suggesting a related setting in GL Preferences… setting in GL Preferences doesn’t exist.

I was able to complete a rounded invoice in AR and the difference posted to the Rounding Gain/Loss account specified in Currencies screen for US Dollars.

Invoice with $0.23 rounding difference
Currencies → Rounding Gain/Loss Accounts
Correctly posted rounding difference

HTH.

Laura

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