About rounding accounts for financial statements

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Important reminder!

Product support for Engagement CS is ending on September 30, 2020. See Engagement CS license expiration 2020 - frequently asked questions for more information.

Licenses for Payroll CS, Trial Balance CS, and Write-Up CS permanently expired on March 1, 2017.

Some processes documented in the Help & How-To Center are no longer applicable, due to the discontinuation of Creative Solutions Accounting.

Rounding is based on the Report balance. If you use rounding when reporting on any other type of balance, your statement may not foot correctly.

How does CSA handle rounding?

  • For individual-period reporting (CP, CB, C1, C2 … C52), the debit and credit amounts are rounded separately for the period and then added together.
  • For reporting other than for an individual period (that is, for CT, CY, and so forth), the balance is rounded.

    If the rounded grand total over the year does not equal zero for all accounts, the difference goes into the rounding account. Choose File > Properties to open the Statement Properties dialog and specify the rounding account by selecting the appropriate account from the drop-down list in the Rounding account field. It is important that the rounding account be a balance sheet account (even for an income statement).

What is the troubleshooting procedure when assets do not equal liabilities and equity on the balance sheet?

  1. Verify the financial statement is in balance when rounding is turned off. In the Financial Statement Editor, choose File > Properties and select None in the Rounding option field.
  2. Because the Chart of Accounts is the source of the balances for any financial statement, it is imperative that the Chart of Accounts be in balance. From the Chart of Accounts dialog, choose Force Balance Recalculation from the Edit menu or from the F3 or right-click context menu. If the Chart of Accounts is not in balance, you must choose an account in which to add the difference.
  3. Verify that all accounts are assigned to an account group. To verify this quickly, choose Setup > Account Groups, and then choose Verify unassigned accounts from the Edit menu or from the F3 or right-click context menu. If applicable, a dialog will appear with the list of accounts that not yet assigned.
  4. Verify that the cells in the Financial Statement do not contain any additional amounts that were added at a previous time.

See also: About using decimal precision of zero in a column or cell

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