Cash Rounding in Odoo14
5Cash rounding is a process used in calculation when money in the low denomination is involved in a transaction. Sometimes, transactions become impractical when the denomination is very low. This could be either due to the unavailability of the coins to transact the exact amount. In such cases, every business firm depends on cash rounding.
Video Contents
00:00 Introduction
00:46 How to configure cash rounding
01:00 How to Enable Rounding in Accounting Module
01:58 What is Round Per line
07:53 How to Modify the Tax Price
09:56 What is the Rounding Method as Half Up
For Odoo Accounting Services: https://www.cybrosys.com/odoo/industries/accounting-and-finance/
For business firms handling several transactions, everyday cash rounding should be software-assisted. This will ensure accuracy and speed in the cash rounding process.
Odoo Accounting module has a Cash Rounding feature which is benefiting many business firms. In short, we can say that cash rounding is made possible when the base unit of an account is smaller than the most reduced denomination category of the currency.
Odoo helps the user to quickly enable Cash Rounding. Go to Accounting module-- Configuration-- Settings-- Taxes-- Rounding Method. Odoo provides 2 rounding methods:
Round per Line:
This method is used if the prices are tax-included. The round per line method helps a user to calculate the sum of line subtotals as equal to the total with taxes.
Round Globally:
Here, the user can select this directly. The user can also go to the Accounting module --- Configuration --- Management --- Cash Rounding.
Click the CREATE button to create a new cash rounding
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