How to clear rounding differences on the Balance Sheet

If the trial balance is posted in pounds and pence or dollars and cents, there will potentially be small rounding differences that occur within the Accounts.

To clear these rounding differences, you will need to set a rounding tolerance in the Wizard. For guidance on setting the rounding tolerance please click here.

Once the rounding tolerance has been set, the rounding difference on the Balance Sheet can be cleared.

1. Select the row that you wish to clear all or some of the rounding to and click the Rounding icon beneath the Table tab to round to the selected row.

2. The Apply Rounding dialog will open. Use the dropdown menu to select the amount of the difference to clear to the row and click OK to apply.

3. The applied rounding is indicated by a blue dot to the right of row.

4. After applying the rounding difference on the Balance Sheet, the difference will also need to be applied to the relevant note via the same method.

5. To remove rounding on the Balance Sheet, you will first need to remove the rounding on the note it has been applied to (in this case, the Debtors note).

Select the row the rounding has been applied to and click the Remove rounding icon beneath the Table tab.

6. Repeat this on the Balance Sheet row the rounding has been applied to.

Please note: If the rounding remains on the Balance Sheet after following the above steps, you may need to use the Remove and replace function. For further guidance, click here.