Rounding of an amount

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 March 2014 Rounding of an amount , please tell under what group (Account head ) it will be recorded in Tally EPR9 .
What is treatment at the end of the year ?

Thanks in advance .

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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11 March 2014 It is also Indirect expenditure/Income, due to rounded off some times we pays excess amount than actual payment or received short amount than actual receipt in this case it is expenditure to us;as well as due to rounded off some times we pays short amount than actual payment or receives excess amount than actual receipt in this case it is Income to us.

So create a head named Rounded off rupee under either Indirect expenditure or Indirect income and give debit to this when it is expenditure to you and credit to this when it is income to you at the year end this also consider for your business profit/loss. At the end of the year based on the balance shows of this account change the group if required( means at the end of the year it has credit balance then change it group to Indirect Income if earlier it grouped under Indirect expenditure or if it has debit balance then change it group to Indirect expenditure if earlier it grouped under Indirect Income)

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