Cash Rounding in Odoo14

Cash rounding is a process used in calculation when money in the low denomination is involved in a transaction. Sometimes, transactions become impractical when the denomination is very low. This could be either due to the unavailability of the coins to transact the exact amount. In such cases, every business firm depends on cash rounding.

Video Contents
00:00 Introduction
00:46 How to configure cash rounding
01:00 How to Enable Rounding in Accounting Module
01:58 What is Round Per line
07:53 How to Modify the Tax Price
09:56 What is the Rounding Method as Half Up

For Odoo Accounting Services: https://www.cybrosys.com/odoo/industries/accounting-and-finance/

For business firms handling several transactions, everyday cash rounding should be software-assisted. This will ensure accuracy and speed in the cash rounding process.

Odoo Accounting module has a Cash Rounding feature which is benefiting many business firms. In short, we can say that cash rounding is made possible when the base unit of an account is smaller than the most reduced denomination category of the currency.

Odoo helps the user to quickly enable Cash Rounding. Go to Accounting module-- Configuration-- Settings-- Taxes-- Rounding Method. Odoo provides 2 rounding methods:

Round per Line:

This method is used if the prices are tax-included. The round per line method helps a user to calculate the sum of line subtotals as equal to the total with taxes.

Round Globally:

Here, the user can select this directly. The user can also go to the Accounting module --- Configuration --- Management --- Cash Rounding.

Click the CREATE button to create a new cash rounding

Related Videos:
Credit notes in odoo 14 https://www.youtube.com/watch?v=PpztZG-nFcQ&t=1s
Follow up on invoices in odoo 14 https://www.youtube.com/watch?v=95ywaDSSdCk
Cash rounding in odoo14 https://www.youtube.com/watch?v=9j1tBk8cx0c
Fiscal positions and tax mapping https://www.youtube.com/watch?v=JnCUsiHaB00&t=3s
How to configure journals in odoo 14 https://youtu.be/PsEYJhSczqA
How to Manage Currencies in Odoo 14? https://youtu.be/Rl23va0fjbQ
Incoterms in odoo 14 https://youtu.be/G1SApd1_ntM
Budget Management in Odoo 14 https://www.youtube.com/watch?v=83PWC9qVa8M
Assets Management (Depreciation) https://www.youtube.com/watch?v=ZfS3YokXiVc
Automatic Grouping of Accounts https://www.youtube.com/watch?v=Lz4tGDZwqQ4&t=2s
Auto Activity Scheduling for Payment Follow up https://www.youtube.com/watch?v=kmD0BKsqr2Y&t=4s
Disallowed Expenses in Accounting https://www.youtube.com/watch?v=4iwp-nERKao
How to Manage Deferred Expense https://www.youtube.com/watch?v=M5FzCeSyOvQ
Unrealized Currency Gains/Losses https://www.youtube.com/watch?v=p5BRQOObNxA&t=6s