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www.cybrosys.com
Round Off Invoice Amount

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INTRODUCTION
 In any business, rounding of invoice amount is a necessary feature. By default, Odoo ERP doesn't support
this feature. But the 'Round off Invoice Amount' app from Cybrosys allows you to round off the invoice
amount to the nearest whole amount by excluding the decimal parts. This application also supports you to
create separate journal entries for the rounded amounts, which can assure the amount is balanced.

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 Before we explaining the functionality of the app, we need to know some basics of odoo
accounting. For every cash/bank transaction there is always an entry made in accounting.
Customer Invoice, Purchase Invoice, Purchase receipt, sale voucher etc. .. in all of these we are
creating a balanced journal entry.
 Odoo follows the double entry bookkeeping system. Double entry means transactions are
always recorded using two sides, debit, and credit. Debit refers to the left-hand side and credit
refers to the right-hand side of the journal entry or account. A journal entry is called
"balanced" when the sum of debit side amounts equals the sum of credit side amounts.

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 It is compulsory that every journal entry should be balanced. Here in this application, we
need to reflect this round-off amount in our accounts, for that we have to create a separate
journal entry for the same. It is for keeping the journal balanced.

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 First, download and Install the application form Odoo App Store. Then follow the below steps to enable the
feature.
 Allow Round Off Feature
In the accounting module, Go to Configuration >Settings
☑ Tick 'Allow rounding of invoice amount' option.
☑ Don't forget to add the Round off Account(Journal entry corresponding to write off amount will be
passed to this account)

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Round Off Amounts
Now Go to Accounting > Customer Invoices>Create Invoice
We can see three different terms
1. Total : It is the total amount without rounding.
2. Rounded Total : Amount after rounding
3. Round off amount : It is the amount that is deducted from the total.

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 Validate the Invoice
 Here, the 'Total amount' is the actual amount. 'Amount Due' is the amount after rounding off the
decimal parts and it is the amount the customer needs to pay.

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 Journal Entries
 In Customer Invoices, go to to page ‘Other Info’ Click on the Journal Entry.
As you can see in the picture a special journal entry is passed to balance the journal. Round off amount can
positive or negative, accordingly, we have to pass debit /credit side entries.

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 Round Off Details
 In Accounting > Adviser > Journal items, You can search ‘Round off’ to get all details of the Round of
amounts.

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Refer this link for more:
https://www.cybrosys.com/blog/how-to-round-off-invoice-amount

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Thank You !
Cybrosys Technologies Pvt. Ltd.
Neospace, Kinfra Techno Park,
Kakkancherry,
Calicut University P.O.
Calicut
Kerala, India - 673635.
Cybrosys Ltd
15, ST Antonys Road,
Forest Gate, London
England,
E79QA.
Cybrosys Technologies Pvt. Ltd.
1st Floor, Thapasya Building,
Infopark, Kakkanad,
Kochi, Kerala,
India-682030.