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Article ID: 3098
Last updated: 13 Aug, 2020
Where Apply advanced rounding rules has been selected, a separate rounding account is allocated for BOTH Profit and Loss Account and Balance Sheet rounding differences. Any difference found within account codes 0000 – 3999 will be allocated to the Profit and Loss Account rounding account (default rounding account is 3390). Any difference found within account codes 4000-9999 will be allocated to the Balance Sheet rounding account (default account code is 5200). For Example (Illustration only):
Change rounding account If there is no balance in account 3390 (Sundry Expenses) or 5200 (Trade Creditors) you may not wish for the Trial Balance (and resulting accounts) to allocate £2 to these accounts. To net the rounding difference off with another amount, select an alternative rounding account under Rounding Differences at the bottom of the Posting screen. See KB3094 - What are Advanced Rounding Rules? for more information.
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