IRIS Keytime - AP - Rounding Accounts

kas-0038

IRIS Keytime - AP - Rounding Accounts

30th January 2021

IRIS Keytime, IRIS Keytime Accounts Production

Change the rounding account codes in Accounts Production

Rounding Figures in the Accounts 

Figures are presented in the accounts rounded to the nearest £ although the transactions and balances may have been captured un-rounded.  The system handles rounding and automatically balances the accounts by placing any rounding difference by default in account 1463 General Travel Expenses for rounding in the P&L and 5400 Trade Creditors for rounding in the balance sheet.  You will not find a transaction in these accounts; the system merely uses the accounts to balance the profit and loss and balance sheet. 

You can amend the rounding accounts if you find an odd £1 appearing in the accounts, perhaps to an account that has a balance where it wouldn’t be noticeable.  To amend the rounding account, click the Options menu, select Configure, click Rounding Account, select the account to be used as the rounding account.