Rounding off invoice is a standard practice of a business. This will create an expense / income in profit and loss account. earlier we were using voucher class for auto round off. Now then, tally has implemented an in built feature. let’s discuss.
Create round off ledger
Accounting Info> Ledger>Create
Name: Round off.
Under : Indirect expense, this can be placed under indirect income also.
Types of ledger : Invoice rounding
Rounding method : Three options available here. Normal rounding, Downward rounding,Upward rounding. Select whichever you need.
Rounding limit: You can limit the maximum amount of rounding, this can be one rupee, 10 rupee or even 100 rupee.
Hit enter and accept the screen to create ledger.
How round off gst sales invoice?
Let’s take the following sales invoice for example.
ABC Ltd sold 10 No HP laptop @ 29999 with 18% GST.
As usual enter, party name ,sales ledger ,name of item, CGST & SGST ledger. The total shows fraction amount.
SELECT ROUND OFF ledger JUST UNDER TAX LEDGERS. The invoice automatically become rounded as per instruction given.
When you print this, you will see this in invoice also.
Hope this helps.