Results 1 to 2 of 2

Thread: Rounding Difference - Supplier Accounts

  1. #1
    New Member
    Join Date
    Nov 2018
    Location
    South Africa
    Posts
    4
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Question Rounding Difference - Supplier Accounts

    Hi there

    What is the correct way (Step by step) to "clear" rounding differences on supplier accounts in Pastel with journal entries?

    I have rounding differences of +R0,01 and -R0,05 etc.

    Thank you in advance

  2. #2
    Silver Member
    Join Date
    Aug 2018
    Location
    Johannesburg
    Posts
    241
    Thanks
    0
    Thanked 33 Times in 29 Posts
    Hi Monique

    I am assuming you are running Pastel Partner/Express - the steps in Evolution are different.

    First check if you have both +ve and -ve amounts to the same supplier. Go to Process, Match Open Items, Select the supplier and the period you want to match the items in. Click the plus next to the unallocated amount. You can then click eg +2c and select and invoice to add it to by clicking on the invoice number. You can then match a -2c against the same invoice to clear it. Clear all your unallocated amounts and save the entries.

    Then go to Process journals, select Supplier journal and input the date, period and amount (DR or CR). Either create a rounding GL account, or use discount received as the contra account. If you are not asked to match the transactions on completing the line, once you post the batch, go back to match open item and allocate the remaining cents against the outstanding invoices.

    If you have suppliers where you constantly have rounding issues, change their input method to inclusive of VAT - then your invoice totals will balance. You can also use a GL code on their invoice, eg discount/rounding and put in a -2c at time of input.

    Hope this helps.

Similar Threads

  1. Replies: 8
    Last Post: 10-Feb-21, 10:02 AM
  2. Pastel Partner V17 Accounts Receivables O/I Difference
    By Lewissangare in forum Accounting Forum
    Replies: 3
    Last Post: 17-Oct-17, 12:59 PM
  3. Replies: 2
    Last Post: 09-Oct-15, 07:51 AM
  4. Replies: 1
    Last Post: 12-Mar-14, 11:42 AM
  5. Replies: 2
    Last Post: 26-Feb-14, 10:35 AM

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •