How do you round off Paisa balance in Sundry Debtors at the time of closing the books of accounts?
Please follow the steps below to round off Paisa balance in Sundry Debtors at the time of closing the books of accounts
Under chart of accounts >> Income a head called Round off is available-
Post invoices(Select income account "Round off") where advance has to be rounded off
Post Credit Note(Put Comment "Round off) where outstanding has to be rounded off
Note :-This is only a suggestion.For Audit related Accounting clarifications, please consult your auditor.
Related Articles
I would like to close and freeze my books of accounts, how can that be done on ADDA?
Please refer the steps below to close and freeze my books of accounts Step 1:- Go to General Ledger –>> Trial Balance –>> Perform Year End —>> Mark “Status” as Done –>> After selecting all activity, click on “Save Changes”. (NOTE:- You can check here ...How do I view the Unit-Closing Balance as an auditor?
Log in to ADDA -->> Admin Dashboard -->> General Ledger -->> Reports -->> 11. Unit - Closing BalanceHow to generate Trial Balance?
Please follow the below steps to generate Trial Balance: Step 1: Login to ADDA -->> Admin -->> General Ledger -->> Trial Balance Step 2: Select the date range for which Trial Balance required. Step 3: Select the type of Trial Balance you require. ...How to upload the opening balance of the bank?
Please follow the below steps to update the opening balance of the bank: Step 1: Login to ADDA -->> Update the bank name from General ledger -->> Chart of Accounts -->>Assets. You will have to pass the journal entry to post the bank opening balance ...How to Round off the Invoice Amount to 2 Decimal Places?
To Round off the Invoice amount to two decimal places, kindly follow the below steps: Step 1: Login to ADDA >> Admin>> Income Tracker>> Setup Step 2: By default, you will be on the 'Auto Invoicing' Tab, as shown in the below screenshot. Step 3: Check ...