DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Dealing with customers who don't pay exact amounts


#1

I have a problem with rounding figures. When I receive payments from my customers, they usually round the two decimal places and issue a cheque.

Thus I have a problem of showing a balance due in my unpaid customer statements report.

Since 0.30 is very very very meagre in India and has literally no value, can there be an option of ignoring this like ignore payments due less than .90 in the options?


#3

One possibility is to create an income account called “over/under” and assign these over or under payments to it like a change jar at the cash register where customers leave or take small change when making cash payments. Thus no balance due problems.


#4

If some customers are known to round down to whole numbers, then don’t issue them with fractional invoices. I mean they have to account for these discrepancies in their accounting system as well.

What you could do is to create new Rounding expense expense account in your Chart of accounts.

Then when you have 3 invoices with outstanding balances which you want to settle to Rounding expense account, simply record this transaction as a journal entry:

However, I must say I also like your suggestion of just being able to tick some option in Settings so Manager would make these entries automatically for you when it detects outstanding balance less than 1.