About rounding accounts for financial statements

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Help & How-To Center content for the Creative Solutions Accounting platform may be outdated and is used at your own risk.

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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