Warning

Product support for the Creative Solutions Accounting platform ended on September 30, 2020.

Help & How-To Center content for the Creative Solutions Accounting platform may be outdated and is used at your own risk.

Choose Utilities > Create Rounding Journal Entry to create a (reclassifying) adjusting journal entry that rounds the year-to-date Chart of Accounts balances. In the Rounding dialog, specify the appropriate rounding accounts for Assets, Liabilities, Income Statement, and Retained Earnings and then click OK to initiate the creation of the rounding adjusting journal entry.

The reclassifying adjustment is reflected on reports, workpapers, and financial statements when the Report basis is selected for display.

Special information

• For a Location / Department client: The client's combining accounts are listed in the drop-down lists for the account fields in the Rounding dialog so that you can round balances by location. Each location must have an actual account in place that corresponds to the combining accounts selected in the Rounding dialog.
• For a location client: Each separate location must be in balance to ensure that rounding is accurate. If any of the locations are out of balance, the rounding journal entry may be created out of balance.
• For interim clients: The rounding journal entry must be created separately in each period for comparative balances across periods to be displayed correctly and consistently.
• In cases where more than one retained earnings account needs to be identified (for a partnership, for example), the Rounding dialog will accommodate multiple entries for that purpose.
• If a rounding journal entry has already been created for the client, choosing the Utilities > Create Rounding Journal Entry opens a prompt that displays the rounding accounts currently in use. Click Yes if you want to delete the existing rounding transactions and open the Rounding dialog to edit the accounts and recreate the rounding entry.
• If the Chart of Accounts balances are changed after the rounding journal entry has been created, whether directly in the Chart-of-Accounts or (for a GL/Trial Balance client) via the posting of previously unposted transactions or deletion of existing transactions, you should delete and recreate the rounding journal entry to ensure accurate rounding.

Fields & buttons

Asset account

Liability account

Income statement account

Retained Earnings account(s)

Combining accounts. . .

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