Define Accounts for Rounding Differece

[Former Member]

Hi Guru's,

Can someone tell me what is the use of "Define Accounts for Rounding Difference"

When i tried to read the help note it says document not found.

Transaction code - OB00

FA->AP/AR->Business Transactions->Outgoing Payments->Outgoing payment global setting->Define Accounts for Rounding difference.

Actually I have a scenario:-

Liability for 550.70 and 550.40 - booked through FB 60

When I make the payment I dont want to cut the cheque for .70 and .40 I wanted this to be rounded off to 551(550.70) and 550(550.40) respectively

Is the function said above is used for this purpose ?

How can I pass(rounding off) the entry in f-53 while doing payment ?

Please help me.

Points will defnitely assigned if useful.

Thanks

Deepak

[Former Member]

Hi deepak,

With certain transactions, the system generates automatic postings. These include:

Input and output tax postings

Exchange rate differences

Cash discount gains and losses

Each automatic posting is shown as a separate line item. In the document overview, therefore, the automatically generated line items are displayed in addition to the manually entered items. For each automatic posting, you must define the G/L account to which the system is to post and the rules according to which the system generates the posting. For example, you can differentiate the tax posting according to tax codes. The system will then post to a different G/L account for each tax code.

You can manually add to automatic postings. If you want to do this, you must select the Supplement auto. postings field in the master record of the account to which the system posts automatically. The field status group in the G/L account master record determines the fields that the system offers for supplementary account assignment.

If you post an incoming payment, the system posts any bank charges automatically to a bank charges account. You can then add the cost centers in the automatically generated line item, for example.

Example- When clearing foreign currency documents in which the foreign currency

and the local currency are national currencies, any differences that

occur are not exchange rate differences, but rather rounding

differences.

One account must be defined in the chart of accounts to which the

rounding difference amounts are posted.

Hope I had been able o help you. Please assign points and let me know if you need anything in specific.

Rgds

manish

[Former Member]

Hai Deepak,

To answer your scenario, OB00 cannot be used for rounding off difference in case of vendor. In such cases you need to use tcode OBXL.

In <b>OBXL</b>, if you do not state any reason code and state an account no, then such account number will be used for rounding off difference.

This would definitely solve the issue.

All the best.

<b>Assign points if useful.</b>

[Former Member]

Dear Smruthi,

Thanks for your reply.

Can you tell me how dow I proceed with entry in F-53.

I have a liability booked through FB60 - for 550.20.

Thanks

Deepak

[Former Member]

Hai Deepak,

Assuming that you have set up the over/under payment account as per tcode OBXL, you can process the open item as follows:

1. Enter the document date, company code, currency in header info.

2. Enter bank account ( G/L Account for bank), amount which now would be 550 under "Bank data" tab.

3. Enter vendor account in tab "Open item selection" with field "Account".

4. Press process open item.

5. You will get a list of documents, now double click on the amount 550.20 in the listing under "Standard" tab.

6. You will observe that the amount would have turned blue and the value reflected under " Assigned" field appearing in the bottom.

7. Press post or Ctrl + S. the document would be generated.

The entry passed would be as follows:

Dr. Vendor

Cr. Bank A/c.

Cr. Over/under payments.

Hope this satisfies your requirement.

<b>Do assign points if it is useful.</b>

Regards,

Smruti.

[Former Member]

Hi Deepak,

Accounts for Rounding Difference is nothing but small difference accounts. For example foreign exchange difference we used to adjust with one or more accounts according to the client requirments.

One account :

Loss and Gain on Foreign exchage account. - here all the exchange rate is taken into this account whether it is loss or gain to the company. End of the year the closing balance has been adjusted in the P & L account. This account has to be create in P & L account area only.

The same concept is applied for Small difference account for domestic operations.

If you have any further clarifications please let me know.

Warm Regards,

Sivakumar Sathiyamoorthy

[Former Member]

Dear Shiv,

Thanks for your response.

I know what you are talking about regarding the exchange gain loss and procedure.

But my doubt on the specific matter(as per my requirment) is not matching with your reply.

Please help me if you know.

Thanks

Deepak