Where Apply advanced rounding rules has been selected, a check will be made on the un-rounded and rounded totals of Cost and separately of Depreciation/Amortisation of each Fixed Assets.
Where a difference occurs, the rounding amount will be allocated to an account code within Cost and separately of Depreciation/Amortisation within the same asset.
For Example (Illustration only)
Account Code |
Amount |
Rounded |
After Rounding |
Plant and Equipment |
|||
Cost B/F (4120) |
100.55 |
101 |
101 |
Additions (4121) |
10.85 |
11 |
10 |
Total |
111.40 |
112 |
111 |
Rounded Total |
111 |
112 |
111 |
ROUNDING DIFFERENCE |
(1) |
- |
You will see from the example above that the rounding difference of £1 occurs where the un-rounded total of Plant and Equipment differs to the rounded total.
The rounding difference is then allocated to the first account with a balance that affects the Cost of that asset (other than Cost B/F), in this example that is Additions.
The same rule will apply to the Cost of each asset and will also be applied to the Depreciation/Amortisation of each asset.
The following table shows the account groups (rounding will NOT be allocated to the accounts in the B/F column)
Intangible Assets |
B/F |
||||||
Goodwill: |
|||||||
Cost |
4000 |
4001 |
4006 |
||||
Amortisation |
4002 |
4003 |
4004 |
4005 |
4007 |
||
Other intangible: |
|||||||
Cost |
4010 |
4011 |
4012 |
4016 |
|||
Amortisation |
4013 |
4014 |
4015 |
||||
Development: |
|||||||
Cost |
4020 |
4021 |
4022 |
4028 |
|||
Amortisation |
4023 |
4024 |
4025 |
4026 |
4027 |
||
Intellectual property: |
|||||||
Cost |
4030 |
4031 |
4032 |
4033 |
|||
Amortisation |
4034 |
4035 |
4036 |
4037 |
4038 |
4039 |
|
Tangible Assets |
|||||||
Land and property freehold: |
|||||||
Cost |
4100 |
4101 |
4102 |
4103 |
|||
Depreciation |
4104 |
4105 |
4106 |
4107 |
|||
Land and property leasehold: |
|||||||
Cost |
4110 |
4111 |
4112 |
4113 |
|||
Depreciation |
4114 |
4115 |
4116 |
4117 |
|||
Plant and equipment: |
|||||||
Cost |
4120 |
4121 |
4122 |
4126 |
|||
Depreciation |
4123 |
4124 |
4125 |
||||
Motor vehicles: |
|||||||
Cost |
4130 |
4131 |
4132 |
4136 |
|||
Depreciation |
4133 |
4134 |
4135 |
||||
Fixtures and fittings: |
|||||||
Cost |
4140 |
4141 |
4142 |
4146 |
|||
Depreciation |
4143 |
4144 |
4145 |
||||
Computer equipment: |
|||||||
Cost |
4150 |
4151 |
4152 |
4156 |
|||
Depreciation |
4153 |
4154 |
4155 |
||||
Investment property: |
|||||||
Cost |
4160 |
4161 |
4162 |
4163 |
|||
Depreciation |
4164 |
4165 |
4166 |
4167 |
|||
Investments |
|||||||
Investments - listed: |
|||||||
Cost |
4200 |
4201 |
4202 |
4203 |
|||
Depreciation |
4204 |
4205 |
4206 |
||||
Investments - unlisted: |
|||||||
Cost |
4210 |
4211 |
4212 |
4213 |
|||
Depreciation |
4214 |
4215 |
4216 |
||||
Investments - Other: |
|||||||
Cost |
4220 |
4221 |
4222 |
4223 |
|||
Depreciation |
4224 |
4225 |
4226 |
The account code to which the rounding difference is allocated can NOT be changed.
See KB3094 - What are Advanced Rounding Rules? for more information.