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Cash Rounding in Odoo 14 Community Edition

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Cash rounding is a process used in calculation when money in the low denomination is involved in a transaction.

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Cash Rounding in Odoo 14 Community Edition

  1. 1. www.cybrosys.com Cash Rounding in Odoo 14 Community Edition
  2. 2. INTRODUCTION ❖ Cash rounding is a process used in calculation when money in the low denomination is involved in a transaction. ❖ When transactions become impractical when the denomination is very low. In such cases, every business firm depends on cash rounding.
  3. 3. ❖ To enable Cash Rounding go to Invoicing > Configuration > Settings, activate Cash Rounding.
  4. 4. ❖ Now you can see a new menu Cash Rounding has been added to Invoicing > Configuration. Initially it will be empty Click on create button.
  5. 5. ❖ Here we need to give information about the rounding like name, rounding precision, Rounding Strategy, Rounding Method, etc. Will explain the different Rounding Strategy, Methods in coming pages.
  6. 6. ❖ Case 1 : When Rounding Strategy is Modify tax Amount, the rounding will be added to the tax amount.
  7. 7. ❖ Now when creating an invoice we can see the untaxed amount is $800.40 and the tax should be $120.06 but it is rounded to next possible upper value(because the Rounding Method is set as UP).
  8. 8. ❖ Case 2.1 : When Rounding Strategy is Add a Rounding Line, a new order line will be added and the rounding will be added to it. And the Rounding Method is UP.
  9. 9. ❖ Now when creating an invoice we can see the amount is $800.40 and the tax is $120.06 and the rounding amount is added to a new line since the Rounding Method is UP the amount is increased next upper number possible.
  10. 10. ❖ Case 2.2 : When Rounding Strategy is Add a Rounding Line, a new order line will be added and the rounding will be added to it. And the Rounding Method is DOWN.
  11. 11. ❖ Now when creating an invoice we can see the amount is $800.40 and the tax is $120.06 and the rounding amount is added to a new line since the Rounding Method is DOWN the amount is decreased with a -ve value to next lower number possible.
  12. 12. ❖ Case 2.3 : When Rounding Strategy is Add a Rounding Line, a new order line will be added and the rounding will be added to it. And the Rounding Method is HALF-UP.
  13. 13. ❖ Now when creating an invoice we can see the amount is $800.40 and the tax is $120.06 and the rounding amount is added to a new line since the Rounding Method is HALF-UP the amount is decreased to next lower number possible because in HALF-UP if the precision value is less than half(5) amount is decreased to next lower number possible.
  14. 14. ❖ Now if the precision value is greater than half(value 5) amount is increased to next upper number possible. So here the amount is $800.50 and the tax is $120.08 and the rounding amount is added to a new line and increased the amount. This is how the Cash Rounding works.
  15. 15. For More Details Check our company website for related blogs and Odoo book. Odoo for Beginners - Odoo V14 Check our YouTube channel for functional and technical videos in Odoo. Cash Rounding in Odoo 14 Community Edition
  16. 16. Thank You

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