In QuickBooks we have options to enable rounding off of the sales and expense transactions to nearest rupees.

In order to enable rounding off function follow the steps below:
  1. Select the Gear icon at the top > Company Settings
  2. Click on Sales in the left pane
  3. Click on "Sales form content" section and
  4. Make sure that the "Round off final amounts for sales transactions" is ticked.
  5. Click on Save button.
  6. Now click on Expenses in the left pane
  7. Click on "Bills and expenses" section and
  8. Make sure that the " Round off final amounts for expense transactions" is ticked.
  9. Click on Save button
  10. Click on Done button to go back to the original screen
Now QuickBooks will round off the final amount to nearest rupee. If the final value of invoice  is 100.50 Rs. it will make the final amount as 100 Rs. and post .50 Rs. in the Round off expense account (as it is a loss for the business). If the final value of invoice is 100.52 Rs. it will make the final amount as 101 Rs. and post .48 Rs. in the Round off income account (as it is a gain for the business).

If you would like to change the COA for tracking round off income or expense account, follow the steps below:
  1. Select the Gear icon at the top > Company Settings
  2. Click on Advanced option in the left pane
  3. Click on Chart of Accounts section
  4. Select the accounts of your choice from the drop down against Round off income account and Round off expense account.
  5. Click Save and Done.

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