In any business, cash rounding is a necessary feature. By default, Odoo ERP doesn’t support this feature and Cybrosys had created an app ‘Round off Invoice Amount’ to support cash rounding in Odoo 10. It allows you to round off the invoice amount to the nearest whole amount by excluding the decimal parts. This application also supports you to create separate journal entries for the rounded amounts, which can assure the amount is balanced. You can read the detailed blog about the app from https://home.mycbms.com/how-to-round-off-invoice-amount.
Odoo 11 has released with special consideration to every small need of the user and it provides cash rounding feature by default. This ‘Cash Rounding’ feature allows the seller to round off the price of any order while the payment is made.
Odoo 11 uses two strategies for cash rounding:
1. Add a line on the invoice for the rounding
2. Add the rounding in the tax amount
Configuration
First, you have to activate the feature. For this, go to Accounting > Configuration > Settings and activate the Cash Rounding.
You can see a menu under the Accounting Configuration to manage cash roundings in Accounting
Create Cash Rounding
Configuration > Management > Cash roundings > Create
You can choose any of the two rounding strategies available:
1. Add a rounding line: If rounding is necessary, Odoo will add a line on your customer invoice to take this rounding into account. You also have to define the account in which the rounded amount will go.
2. Modify tax amount: Odoo will add the rounding to the highest tax.
Apply roundings
Once your roundings are created, you can apply them to customer invoices. On the customer invoices, there will be a new field ‘Cash Rounding Method‘, you can choose one of the previously created rounding methods.
This is how ‘Rounding off Cash’ is done in Odoo 11. Hope the blog was helpful to you.